Commercial documents formally document the business arrangement between two, or more, parties.
Many business owners rely on verbal ‘gentleman’s’ agreements which are all well and good until something goes wrong … and its then too late. Protecting your business interests from the beginning of a relationship, even if it’s with a friend, family, or someone you know well, is essential. It not only gives everyone peace of mind but also makes your company appear more professional and sets the tone for ongoing business.
Formal agreements ensure that everyone knows their roles and responsibilities and what is expected of them and of the other party(ies). Agreements also ensure that, should something go wrong during a relationship, everyone knows where they stand and what the repercussions are. Should one of the parties have to engage in litigation against the other, the commercial agreement will form the basis of this litigation and will help determine the outcome.
The team at Dawson Radford will explain to you what type of agreement(s) would benefit your business, and work with you to ensure that everything you need to cover is included in your documentation. And, as your business grows, should your original agreements no longer be suitable for purpose, the team will be on hand to revise these with you and future-proof them as far as possible.