Forming a contract creates responsibilities, conditions, manners, time limit, monetary issues that has to be satisfied in order to protect yourself from any kind of trouble when contract dispute arises. Therefore we provide our clients with excellent contract drafting.
We start the process of drafting as soon as agreement comes into writing. We prepare legal documentation after understanding our clients business and the deal that has been negotiated. The terms will be drafted when both parties agrees with the contract on all terms.
Further we see the concerns of our clients, challenges the client faces after signing the contract. We consider the interest and rights of the clients. For us the intention of the client is the main aspect. We make sure that all the elements are present in the contract so that in case of any dispute the court will find that there is valid contract that can be enforced.
Very often many individuals draft contract without meeting the necessary binding requirements to create an actual enforceable contract, unfortunately they will have to face weird consequences.
Ingredients of Good Agreements
Business contracts legally bind two or more people and the business processes that they need to specifically understand based on what is written in the contract. All the terms and conditions will be laid out and both parties must be able to agree to a unanimous decision so following all that has been decided upon the formation of the contract will be clear.
A contract is a voluntary legal promise or agreement between two or more persons, parties and organizations to carry out actions and things mutually. It is a document to emphasize each party’s duties, rights and obligations. We all daily make contracts in general and business lives to complete various actions.
Contracts can be verbal (spoken), written or a combination of both. Some types of contract such as those for buying or selling real estate or finance agreements must be in writing.
Written contracts may consist of a standard form agreement or a letter confirming the agreement. Written contracts may consist of a standard form agreement or a letter confirming the agreement. It is advisable (where possible) to make sure your business arrangements are in writing, to avoid problems when trying to prove a contract existed.
ENTERING INTO A CONTRACT
Contracts can be complex. It is important that you fully understand the terms of a contract before signing anything. You are advised to seek legal and professional advice first. Managing your contracts and business relationships is very important.
A Business Contract also makes it easier to get paid by laying out specific terms around when the project is complete, what must be delivered, and when payment is due. Our Business Contract can be used by the buyer or seller of a product or service, offering or receiving a service, you can use the Business Contract to specify dates of performance, the scope of work, and payment terms.
COMMERCIAL CONTRACTS AND AGREEMENTS
A commercial contract is a legally binding agreement between two or more parties which obligates them to do or not do certain things. Whether by a formal written agreement or through an informal understanding, most businesses use commercial contracts to ensure that the terms of their business deals are clearly described and understood.
In general, a contract is a legally binding agreement. It serves not only to bind the parties but also provides recourse if one party does not hold up its end of the bargain and the other party has resulting damages.
A business agreement is a concession between two or more parties who come into a common understanding about a business related issue or topic. Most business agreements have that element of a confidentiality agreement since the agreement must be known by the business parties involved in that closed-door meeting.
Assignment Agreement
An Assignment Agreement, sometimes called a Contract Assignment, allows you to assign your contractual rights and responsibilities to another party. For example, if you’re a contractor who needs help completing a job, you can assign tasks and entitlements to a subcontractor, as long as the original contract doesn’t forbid the assignment of these rights and duties. In your Assignment Agreement, you should include information like: the name of the person handing over contractual duties (called “the assignor”); the recipient of the contractual rights and obligations (called “the assignee”); the other party to the original contract (called “the obligor”); the name of the contract and its expiration date; whether the original contract requires the obligor’s consent prior to assigning rights; when the obligor’s consent was obtained; when the agreement will go into effect; and which state’s laws will govern the agreement.
LICENSING AGREEMENT
A licensing agreement is a contact between the owner of intellectual property and an outside party, that gives the outside party the right use the intellectual property in a capacity specified it the agreement. Intellectual property describes creations of the mind, such as inventions, designs, original creative works and trademarks. A licensing agreement can allow a small business to earn profit by allowing a larger company to use its resources to develop intellectual property.
NON-DISCLOSURE AGREEMENT
A Non-Disclosure Agreement (NDA), also sometimes referred to as a confidential disclosure agreement (CDA) or a proprietary information agreement (PIA), is a legal contract between at least two parties which outlines confidential materials or knowledge the parties wish to share with one another for certain purposes, but wish to restrict from generalized use.
In other words, it is a contract by which the parties agree not to disclose information covered by the agreement. As such, an NDA can protect non-public information of various types. NDAs can be “mutual”, meaning both parties are planning to exchange confidential information with the other, or they can be one-way, meaning that only one party will be disclosing confidential information.
MEMORANDUM OF UNDERSTANDING
A Memorandum of Understanding (MOU) is a contract between two or more parties planning to create a research or educational partnership. The MOU outlines the type of relationship that will be created, the objective for the relationship and the responsibilities of each party. The MOU is not a legally binding agreement and therefore should not address formal plans for compensation, confidentiality, or intellectual property and licensing rights.
These types of agreements are sometimes referred to as “gentlemen’s agreements” and are most usually entered into between institutions of higher education, with individuals, and can sometimes be a requirement of a grant proposal submission or grant award. The planned activity may or may not come to fruition as described in the MOU, however there is no penalty for failure.
JOINT VENTURE
A joint venture is a business enterprise undertaken by two or more persons or organizations to share the expense and (hopefully) profit of a particular business project. A joint venture is not a business organization in the sense of a proprietorship, partnership, or corporation. It is an agreement between parties for a particular purpose and usually a defined timeframe.
Most joint ventures are formed for the ultimate purpose of saving money. Joint ventures are attractive because they enable companies to share both risks and costs.
Since the joint venture is not a legal entity, it does not enter into contracts, hire employees, or have its own tax liabilities. These activities and obligations are handled through the co-venturers directly and are governed by contract law. Corporate law, partnership law, and the law of sole proprietorship do not govern joint ventures. Finally, since the venture ends at the conclusion of a specific project, there is no need to address issues of continuity of life and free transferability, unless a joint venture company has been created.
Among the most significant benefits derived from joint ventures is that parties to the venture save money and reduce their risks through capital and resource sharing. Joint ventures also give smaller companies the chance to work with larger ones to develop, manufacture, and market new products. They also give companies of all sizes the opportunity to increase sales, gain access to wider markets, and enhance technological capabilities through research and development underwritten by more than one party.