| It is not uncommon for businesses to use their attorneys as negotiators these days and that can have many advantages, from saving money to avoiding potential pitfalls. Thats especially true regarding contracts: A lawyer could review it and make sure its to your advantage.
A business owner may think attorney use for contract drafting or review is an unnecessary expense but the contract (may be) unclear of responsibilities, duties and prohibitions of one of the sides, payment provisions, deadlines a contract can be one-sided to the advantage of one party or the other, said Ed Wolfe, an attorney who practices business law and a principal with Ed Wolfe Law Offices PLLC.
Attorneys serving as negotiators is about getting the best deal for your client and being the clients advocate, whether its a complex or noncomplex transaction, he said. I may tell my client, this is a bad deal and here is why.
A bad deal could mean things like the assets being tied up for too long, unfavorable financial provisions, or matters involving employees. Some clients choose to have their legal counsel draft the contract, others only ask for review. Its also the attorneys job to look for potential landmines.
The important part is that the client ultimately makes the decisions; the attorney is only making recommendations. The client instructs the attorney as to what he or she wants done, no matter what the issue is, Wolfe said.
An attorney can help negotiate all sorts of matters, from sale transactions and copyright issues to union contracts. The key is to find a lawyer experienced in the specific field. |