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Invest in a business contract lawyer

A business contract lawyer specialises in business contracts, including commercial leases, goods and services contracts and deeds. A business contract lawyer can prepare, negotiate and review contracts for businesses.

Contract law is a complex area of law. Because business contracts govern the relationship between a business and suppliers, business partners and customers, it is essential to get them right. By investing in a business contract lawyer, businesses can reduce risk, get the right advice and have greater certainty.

In this article, you’ll hear from a business contract lawyer about the benefits of investing in a business contract lawyer. You’ll also learn what kinds of contracts a lawyer can help businesses with.

business contract lawyer

Prosper Law is an commercial law firm. We provide legal advice to a business contract lawyer across Australia. Would you like a fixed-fee, no-obligation quote from a commercial lawyer? Contact us at onlinelawyer@prosperlaw.com.au or phone 1300 003 077.

What types of business contracts can a business contract lawyer help with?

A business contract lawyer can help with the following types of contracts:

  • employment contract
  • partnership agreement
  • joint venture agreement
  • intellectual property licence
  • non-disclosure agreement
  • exclusivity agreement
  • Deeds of novation
  • Deeds of settlement
  • IT goods and services agreement
  • software licence

Partnership agreements

A partnership agreement, also known as Articles of Partnership, is a contract between two or more persons who intend to carry out business together as partners.

There are three types of partnership structures in Australia:

  • General partnership
  • Limited Partnership
  • Joint venture

The partnership agreement outlines the terms and conditions of the partnership, including the nature of the business, the duties and responsibilities of each partner, the method of sharing profits and losses, governance and the allocation of decision-making authority, and the procedure for admitting new partners or dissolving the partnership. The agreement may also include provisions for dispute resolution, such as mediation or arbitration.

A business contract lawyer can prepare a partnership agreement.

Joint Venture Agreement

A joint venture agreement is a contract between two or more businesses or individuals that have come together to create another business venture.

The Agreement outlines the terms and conditions of a specific business venture they will undertake together, including but not limited to the duties, responsibilities, and obligations of each party from one another, the ownership structure of the venture, the method of sharing profits and losses, governance and the allocation of decision-making authority, ownership of intellectual property, the dispute resolution process, and the procedure for leave or termination of the venture. It may also contain a Deadlock and Interest clause.

Employment contracts

An employment contract is an agreement between an employer and an employee. The contract sets out the terms and conditions of the employment and working relationship of the parties. The terms and conditions set in the employment contract shall be legally binding between them. The parties may have their employment contract verbally or in writing, however, it is still best if in writing.

An employment contract must contain the minimum legal entitlements of an employee as provided in the National Employment Standards (NES) and awards, enterprise agreements, or other registered agreements that may apply. Further, an employment contract should also include the following:

  • identification of the parties
  • a clear and detailed description of the job duties and responsibilities
  • terms of employment
  • remuneration which specifies the employee’s salary, wages, allowances, and any benefits provided by the employer
  • the employee’s required number of hours to work
  • leave entitlements
  • the employee’s work location
  • terms of terminating the contract
  • the specific law that will govern the contract

Supply of goods and services contracts

A supply of goods and services contract is an agreement by which a seller promises to supply the buyer with all the specified goods or services that a buyer needs over a certain period.

assorted purses on shelves in shop

A goods and/or services agreement outlines the terms and conditions of the transaction. Other clauses typically include terms of payment, delivery, warranties or guarantees related to the goods or services being sold, the responsibilities and obligations of both the seller and the buyer, the description of the goods or services, the price, and delivery conditions.

Lease agreements

A lease agreement or also known as Rental Agreement is a contract between a landlord and a tenant for the purpose of using the landlord’s property for a certain period of time in exchange for a sum of money. The agreement is important in establishing the parties obligation and expectations of each other.

The agreement outlines the terms and conditions of the tenancy of a property including but not limited to the rights and obligations of both the parties from one another. The Agreement also outlines the terms of the rental agreement, including the rental amount, the length of the lease, and the conditions under which the lease can be terminated. Further, the agreement may also include provisions for the maintenance and repair of the property, the payment of utilities, and the responsibilities of the landlord and the tenant with respect to security deposits.

Confidentiality Agreements or Non-Disclosure Agreements (NDA)

A confidentiality agreement or non-disclosure agreement (NDA) is kind of contract used by a party to prevent the counterparty from misusing its confidential information or from working directly with the disclosing party’s business contacts that might cause any damage to the disclosing party.

NDAs are commonly used in business and employment relationships, as well as in mergers and acquisitions, to protect sensitive or proprietary information from being disclosed to unauthorized third parties. They are also used to protect trade secrets, intellectual property, and other sensitive information that may be valuable to the disclosing party.

An NDA is a contract that outlines the terms and conditions for the sharing of confidential information. It restricts the receiving party from disclosing or using confidential information for any purpose other than that specified in the agreement. The Agreement should also include but not be limited to the definition of confidential information, the obligations of the receiving party with respect to the confidential information, the duration of the NDA, the conditions under which the NDA can be terminated, and the provisions for dispute resolution.

Shareholder agreements

A shareholder agreement outlines the terms and conditions that govern the shareholders’ relationship to the corporation and to one another.

The agreement includes but is not limited to the arrangement of ownership and governance of the corporation and specifies the rights and obligations of each shareholder, the distribution of profits and losses, the method of making decisions regarding the management and direction of the corporation, and the procedure for buying and selling shares.

Drafting and negotiating business contracts

It is critical that contracts are drafted so that they are clear and enforceable. The reason why this is important is that if a contract (or a term) is uncertain, it may be unenforceable. A contract term may be too uncertain to be enforceable if, for example, it is not possible for a third party to determine what bargain the parties agreed to.

focused man working with female colleague in office

This is where investing in a business contract lawyer will pay off. Lawyers are trained in the art of negotiation. They can help a business to identify things that the business is not willing or able to compromise on. And they can assist in proposing alternative positions that address both parties’ concerns but get the deal done.

Without a business contract lawyer, businesses may make mistakes. This might include drafting contract terms that do not reflect the agreement that has been reached. For instance, if a term of a business contract is unenforceable, unclear or contradicts a different term in the contract.

Enforcing business contracts

A business contract lawyer can also help businesses to enforce a contract. If the other party is not fulfilling their contractual obligations, it is important to be proactive. If a business lets the other party willingly breach the contract, this may alter the legal rights of the business.

Here are some examples of common disputes that arise in contract enforcement and how to resolve them:

  • Non-payment: A contract may require a notice to be given before termination. Alternatively, dispute avenues may include small claims, adjudication, a letter of demand or a statutory demand
  • Whether there is a contract in the first place: If a party disputes whether a contract is binding, this may require going to court. A business contract lawyer may recommend corresponding with the other party first to try and convince them the contract is binding
  • Whether a term is enforceable: The first step will be corresponding with the other party, then potentially making an application to court

How can Prosper Law help?

Prosper Law is a fixed-fee law firm. We provide legal advice to businesses for an upfront, fixed price. We help businesses across Australia.

If you need a business contract lawyer that will work with you to review, negotiate and prepare your contracts, contact us today for a no-obligation, fixed fee quote.

PROSPER LAW – Australia’s Online Law Firm

P: 1300 003 077

E: enquiry@prosperlaw.com.au

W: www.prosperlaw.com.au

Like this article? Check out:

What legal documents do you need for your small business?

The Ultimate Legal Guide to Starting a Business in Australia

5 Things That Should Be Included In A Partnership Agreement

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