To stay on top of your contractual rights and obligations, it’s best practice for commercial agreements to be in writing. A specialist lawyer can help your business to draft contracts that are clear and commercial, effectively allocate risk and anticipate common sources of disputes to minimise the likelihood of litigation.

At LegalVision, we draft a wide range of contracts for our clients, including:

  • shareholders agreements;
  • franchise agreements;
  • sale of business agreements;
  • confidentiality agreements;
  • joint venture and partnership agreements;
  • loan agreements;
  • service and consultancy agreements;
  • employment and subcontractor agreements;
  • distribution and supply agreements; and
  • licence agreements.

As well as drafting commercial agreements, LegalVision can also help review and negotiate contracts for your business. Our team also assists clients to resolve contractual disputes.

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5 Things You Need to Know About Drafting Commercial Contracts

  • 1Businesses create contracts in lots of ways, including by email or even on a phone call. As a business owner, you need to know what you’ve agreed with other parties. For this reason, it’s best practice for businesses to put their contracts in writing — a process known as “contract drafting”. Contract drafting is one of the main tasks that lawyers perform for businesses.
  • 2A good business lawyer will generally work with a base contract (or “precedent”) that has been created for a particular category of commercial agreements. The lawyer will then adapt the contract to address the specific requirements of the client and its business. This approach gives you a high-quality document at a reasonable cost.
  • 3It’s important to choose a lawyer who has experience drafting the type of contract you need. Working with a specialist should mean that the quality of the contract is higher and the cost of producing the document is reduced. If possible, choose a lawyer who will draft your contract for a fixed fee. This arrangement will incentivise the lawyer to work efficiently.
  • 4Remember that contract drafting doesn’t need to be overly complicated and contain lots of jargon and complex language. Your lawyer should create a straightforward contract that can be understood by all parties.
  • 5Once your contract has been drafted, it’s likely that the other party will want to negotiate the terms of the agreement. A specialist contract lawyer will also be able to assist you with negotiations.