Forsyth County and the surrounding areas of Northern Georgia are home for many successful small to mid-sized businesses.
The area is also a fertile ground for developing new businesses that, when all goes well, will eventually serve to profit the owners and their employees alike.
Setting up a business and maintaining it takes a lot of work, including a lot of work developing a proper legal strategy and paying attention to details at certain key points in a business’ life.
For instance, businesses live and die based on their contracts. Contracts affect every aspect of a business’s life. They determine how business investors relate to each other. They also determine how the business will treat its employees.
Contracts cover how a business deals with its creditors, including lenders, outside investors, landlords and suppliers. They also will spell out in some way rights and obligations concerning the business’ customers.
Smaller and mid-sized businesses do have to be mindful of their budgets, which means they may have to prioritize which contracts get a full legal review from an experienced business law attorney.
That being said, any contract a business enters can have long-term financial and other consequences. A good rule of thumb for a business is that they should pay attention to the details of all contracts which they are entering.
If they have any hesitation about the possible consequences of a contract, they should speak to an attorney.
What are examples of key contracts that should have legal review?
There are also some critical contracts which businesses should as a rule examine more carefully:
- Any contract involving the buying, selling or leasing of commercial real estate
- Agreements between partners, shareholders, etc.
- Non-competition and severance agreements with executives and other key personnel
This list is not meant to be comprehensive, but negotiating and drafting these and similar agreements usually touch on important financial and other considerations.
