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As a business owner, you already understand the value of solid business contracts to protect your rights and those of the other parties involved in transactions. However, poorly written contracts often can lead to disputes and possible business litigation.
Contract disputes cause businesses to lose precious time and money. If the dispute revolves around employment contracts, it could damage your business’s standing in the community.
For these reasons, regardless of whether you have a contract dispute or simply need to negotiate a business agreement, you must have an experienced contract lawyer to assist you with your legal needs.
Venerable Law of Tampa Bay has extensive experience helping clients deal with all contract-related practice area issues and would be honored to help you resolve your issues.
Contact our law firm and ask to schedule a free initial consultation so that we may evaluate your case and determine what legal strategies may be available.
What are the Various Types of Business Contracts?
Although there are many business contracts that business owners may deal with, several are more common than others. It is important to remember that an agreement must exist between two or more parties to be considered a contract.
There are three categories that business owners should be aware of which include:
General Business Contracts
General business contracts have to deal with the issues related to running the business. Some standard general business contracts include partnership agreements, lease or property agreements, and non-disclosure agreements designed to prevent third parties from revealing confidential information about the company.
Sales-Related Contracts
Sales-related contracts deal with any purchases or sales the business makes daily. Some examples include security agreements or purchase orders, which are legally binding and obligate owners to buy predetermined goods.
Employment Contracts
As the name suggests, employment contracts relate to issues pertaining to employees who perform services for the business. Some standard contracts include general employment and non-compete agreements. General employment contracts outline the terms and conditions pertaining to hiring employees, along with their salaries, benefits, and possible reasons for termination. Non-compete agreements establish when employees may not engage in work that competes with the company after an employee leaves their employment.
For more detailed information about the different types of contracts used in business settings, contact Venerable Law to schedule a meeting with our experienced contracts lawyer.
What is Breach of Contract?
Florida law stipulates that a breach of contract occurs when one party to a contract fails to meet their contractual obligations. If two parties have a valid business contract and one of the parties does not live up to their contractual obligations, the other party may be entitled to file a breach of contract claim.
In a business context, some examples of a breach of contract include:
- Failure to deliver expected goods or services.
- Failure to complete the job.
- Failure to make a payment.
- Performance was below the agreed standards between the two parties.
However, to successfully win a breach of contract claim, specific legal elements must exist, which include:
- There was a valid contract between the two parties.
- The terms of the contract were breached.
- The breach of contract resulted in one party suffering damages.
Suppose you believe that another party you do business with breached their contract. In that case, you must speak with an experienced business attorney who can thoroughly review your case and determine if legal action is appropriate.
What Legal Services Does a Business Contract Attorney Provide to Clients?
Business contract attorneys can evaluate, negotiate, or draft legally binding agreements that meet their client’s needs and are in accordance with state law. Contract attorneys will ensure that contracts are in writing, avoid ambiguity, and minimize liability.
Anyone considering entering into a written contract should consult a contract lawyer to understand their role, rights, and responsibilities clearly. An essential part of entering into a contract is understanding all the terms and conditions associated with the agreement to ensure there are no hidden clauses that could result in problems for either party.
If you are considering a start-up company, a contract lawyer can create essential agreements such as operating agreements, perform tasks such as obtaining an employer identification number (EIN),) and act as your registered agent who will receive all official state and federal communications for your business.
Finally, suppose a business is forced to deal with a breach of contract. In that case, a contract lawyer can help your business take legal action and, if necessary, take the matter to court to rectify the situation.
Venerable Law of Tampa, Florida, has an experienced legal team with comprehensive experience helping clients with all aspects of contract law. Contact our contract lawyers today to learn more about the legal services we provide to clients.
Why Should I Choose Your Business Contract Lawyer Tampa Bay?
Suppose you are considering a new business enterprise with another person or need help with business contracts. In that contract case, hiring experienced attorneys to assist you with your legal needs is always in your best interests.
Well-written business contracts are legally binding and should serve as a guide to the continuous development of your business structure. Whether you are a small business or a corporation, Venerable Law has the experience and skills necessary to obtain favorable results for your organization.
Often, other business lawyers treat clients like a number and only focus on profits. Instead, our legal team centers our practice on helping businesses save money and avoid potential business litigation or contract litigation by crafting custom-tailored legal documents that protect them and spell out the other party’s expectations in simple terms.
For these reasons, before signing contracts, you must consult with an experienced business contract lawyer who works to safeguard your interests.
Contact Venerable Law at our Tampa, Florida office by calling 813-680-4530 and ask to schedule a free, no-obligation consultation to learn what legal strategies may be available.
Types of Business Contract Our Attorneys Can Help With
In the Tampa Bay area, businesses frequently use a variety of general business contracts to ensure smooth operations, compliance with laws, and clear terms with clients, suppliers, and partners. Here are examples of common general business contracts used in Tampa Bay that our contracts lawyer can help with:
- Sales Agreements:
- Contracts outlining the terms and conditions of the sale of goods or services, including pricing, delivery, and warranties.
- Service Contracts:
- Agreements between service providers and clients detailing the scope of services, payment terms, timelines, and confidentiality clauses.
- Employment Contracts:
- Contracts between employers and employees specifying job responsibilities, compensation, benefits, and terms of employment.
- Non-Disclosure Agreements (NDAs):
- Agreements ensuring that sensitive information shared between parties remains confidential and is not disclosed to third parties.
- Partnership Agreements:
- Contracts between business partners outlining the roles, responsibilities, profit-sharing, and procedures for resolving disputes.
- Operating Agreements:
- Documents for LLCs detailing the management structure, member roles, and operational guidelines of the company.
- Lease Agreements:
- Contracts between landlords and tenants for the rental of commercial property, specifying terms such as rent, lease duration, and maintenance responsibilities.
- Franchise Agreements:
- Contracts between franchisors and franchisees detailing the terms of the franchise relationship, including fees, territories, and operational guidelines.
- Supplier Contracts:
- Agreements with suppliers outlining the terms for the supply of goods or materials, including pricing, delivery schedules, and quality standards.
- Consulting Agreements:
- Contracts with consultants specifying the scope of work, payment terms, and confidentiality requirements.
- Licensing Agreements:
- Contracts allowing one party to use another party’s intellectual property, such as trademarks or patents, under specified conditions.
- Independent Contractor Agreements:
- Contracts between businesses and independent contractors detailing the services to be performed, payment terms, and the nature of the working relationship.
- Distribution Agreements:
- Contracts between manufacturers and distributors outlining the terms for distributing products, including territories, pricing, and responsibilities.
- Joint Venture Agreements:
- Contracts between two or more parties collaborating on a specific project or business venture, detailing contributions, responsibilities, and profit-sharing.
- Purchase Orders:
- Documents used by businesses to order goods or services from suppliers, specifying the quantity, price, and delivery terms.
- Shareholder Agreements:
- Contracts between shareholders of a corporation outlining the management of the company, shareholder rights, and procedures for handling disputes.
- Agency Agreements:
- Contracts establishing a relationship where one party (the agent) acts on behalf of another party (the principal) in business transactions.
- Subcontractor Agreements:
- Contracts between a primary contractor and subcontractors detailing the work to be performed, payment terms, and compliance requirements.
- Asset Purchase Agreements:
- Contracts for the purchase of a company’s assets, specifying the terms and conditions of the sale.
- Client Agreements:
- Contracts between businesses and their clients outlining the terms of service, payment schedules, and deliverables.
These general business contracts help Tampa Bay businesses protect their interests, clarify expectations, and ensure legal compliance in their operations.