Who Should Review a Contract?

In our business and personal lives, we are exchanging contracts all the time. For employment, for homes, for sales, and even for issues like power of attorney.

It’s vital that you have a lawyer who understands and specialises in contract law and commercial agreements.

Why? To ensure everything has been drawn up correctly, and to ensure you’re getting the best deal possible.

Commercial lawyers have experience in reviewing and negotiating commercial contracts, helping businesses to protect their interests.

A contract lawyer can also help businesses ensure their contracts – for employees or other matters – are legally binding. Contract lawyers can help with:

• •   sales contracts, 
  •   supplier contracts, 
  •   non-disclosure agreements, 
  •   partnership agreements, 
  •   employment agreements, and 
  •   joint venture agreements.

There are also intellectual property lawyers, who focus on protecting a business’s intellectual property, such as patents, trademarks, and copyrights. They can also help businesses with contract reviews, to make sure their intellectual property is protected.

There are several reasons why you need a lawyer to review a contract.

1. 1.     A lawyer can tell you the legal risks and issues associated with the contract:

While a contract might seem straightforward at a quick glance, a good lawyer will be able to identify any legal risks and issues. Lawyers are trained to interpret the law and its implications for you and your business.

1. 2.     You can understand what the contract means for your business’ future:

Beyond just advising you of any risks, a lawyer can also help you understand what a contract means for your business going forward. For example, some contracts might automatically terminate on a certain date, and other contracts might continue indefinitely.

1. 3.  A contract review ensures you are getting a good deal:

When you’re having a contract reviewed, it can involve more than just the lawyer telling you what the contract means for your business. A good commercial lawyer can also advise you of any key opportunities that could arise from the contract.

Quite simply, the advice and experience offered by a commercial or contract law specialist can be invaluable.

At GLG Legal, we have trained experts to help advise you in every aspect of commercial law and contracts. Phone our office on: (07) 3161 9555 or email: info@glglegal.com.au to make an appointment.