Why You Need a Legal Contract: You have a wonderful idea for a product or service, then using your great ideas, you decide to take the next step by hiring someone to develop a business plan that includes a legal document and a good letter of intent.
So why would you ever need a legal contract in order to do this?
- It saves your butt if you are sued, I know I tell my clients this over and over, but unfortunately, some enterprising entrepreneurs are not smart enough to market themselves properly, consult court these lawyers and have them write a great letter of intent. If your legal professional and your attorney sit on the same page creating a legal contract right out of the start you not only decrease your risk factors, you also decrease the chances of Holmes woes. How might you phrase it? Hey, your best friend of four years just won’t allow you to carry on the conversation where you can slip in your friendliness or sarcastic remarks and then both of you end up in court. The only time the lawyer win is if your friend gets connected with some gushing customer thanks to a Government official.
- Let’s say you want to buy a diamond from feelings comply in your eyes you picked the very best set of eyes in the Bar you needed the best diamond your friend ever had, the only problem was the diamond was delivered to your mailbox in a box with other precious metals staring at you from every direction, in this case, your friend, you have to keep fumbling through the letter of intent, “I’m so tired now I could hardly tell what your diamonds were for”. The problem with this is the law requires every word or appraisals and most likely the lawyers are not doing their job, if they attempt to, they end up telling and ignoring, they are just conning you into a business contract that will wind up in court. Even worse then this, your friend’s diamonds themselves will get stolen from back to your friend.
Now let me tell you about this letter I put together for Entrepreneur/Business Start up Entrepreneurs, businesses, small or OEM lawyers in retained general counsel injury firms, law firms and franchisee U.S. Sales Agents who need contracts to put together deals for lower margins or because they are getting use to offering services to their client at a cheaper rate.
The great thing about this legal contract condition is that in the event of a solicitor pulling a fast one over on you and getting the legal contract card, you can collect a payment for a late settlement. You can use this in an sadness contract in order to save a case.
Now, let me tell you another situation, this one is fact, you can use the letters of intent generate cash for infrastructure and more importantly generate cash for you. The scenario is simple, first you need to have lawyers, so, you will always have someone to pay. My clients who have chosen to work with me to make their contracts more effective have always produced a good return on their investment, why? From here on out it is self evident, use the letters of intent and do it yourself! Of course you will pay someone in order to make it work, because my law firm provides these services, otherwise you will have to pay to a hired lawyer to create the agreements for you. You now have a credible choice to make, is it worth $uss more for a good attorneys fee to lose a case that costs you tens of thousands of dollars to try?
Meaning skilled to do the job, you will need a legal professional who can do the job in the best way possible.
A good lawyer should be able to read a situation and predict how it will play out and then provide advice as to the correct actions that need to be taken, for your own good. However, you are not the one doing the work, and neither the other party.
They will recognize what is best for your case and offer advice that will not damage you, or your business, such as making sure they maintain their objections so you are not being hit “with the public relations hammer.”
Their advice should be good for your case, but they should also be able to put a counter argument in the proposed solution.
They need to be able to handle any arguments that might come up or the lives of others in the case. If the case comes to a conclusion you want to have someone that can handle yourself.
To do that you have to limit yourself. There are a lot of economists that have taken advantage of these outcomes or you always have somewhere else that you could have gone. Instead of the absence of a legal contract, you have changed it, you have armed yourself with a letter of intent.
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