When contract lawyers complete a contract review, the goal is to ensure that their clients benefit from the terms of the legal contract. Lawyers typically have a process they follow which can be in the form of a contract review checklist. A contract lawyer will read each line of the document to make sure the terms are fair and there are no loopholes.
Contract review also confirms the legal validity of all terms of the legal agreement and includes an in-depth analysis. If you choose to forego the recommendation to review a contract, you could find yourself locked into an agreement that you’re not happy with.
Here is more about contract review.
Completing a contract review is a vital process any time you need to make a new agreement. Making sure you follow the right steps to the contract review process is the only way to ensure that the terms and conditions of the contract are in your best interest. Since contract reviews can seem intimidating, you might be surprised that the process is simpler than you might think.
Here is a quick rundown of the contract review process:
Check out this article to learn more about the contract review process.
If you’re looking for an easy way to perform your next contract review, we have a solution for you. Coming prepared with a contract review checklist is a great way to make sure you complete all the necessary steps of the process. It also helps you stay organized, which helps save time and eliminate any careless mistakes along the way.
Here are six quick steps you can take to perform a thorough contract review, with or without the assistance of a contract review lawyer.
Meet some lawyers on our platformYou need to go through the entire contract with a fine-tooth comb, but the first step to any thorough contract review is examining key terms and clauses throughout. This is because certain portions of the contract are more important, such as:
Ensuring these terms are clear and that you are in agreement with them helps protect your interests in the agreement, which is why this step is vital to any contract review.
Contracts typically encompass an agreement for a certain, predetermined amount of time. This means that there will be rules and regulations for termination of the contract or renewal of the terms. Make sure you agree and understand these rules during your contract review.
Contracts can contain some tricky language and sometimes, that can make the terms confusing. Set some time aside to read the entire contract in full, paying attention to any confusing or misleading wording that might be included. Keep a list of these items to discuss with the other contract parties and don’t be afraid to request revisions – that’s what the contract review process is all about.
What happens if a contract party doesn’t hold up their end of the bargain? Contract default regulations answer this question. Review the rules surrounding default occurrences. This helps to ensure that you not only understand what could happen if you fail to perform your duties, but also what legal recourse you might have if someone else does.
Timelines, deadlines, and any other important dates should be clearly stated in your contract. It’s essential that you are aware of what these dates are and that you are confident that the schedule works for you. Carefully review these dates to make sure they work with your schedule before signing anything.
You should also make sure that there is a specific procedure to follow if there are any changes in key dates or schedules. Unexpected events are bound to occur, so having that flexibility built into the contract protects all parties involved.
Whether you are using a contract template to help you draft your agreement, or you’re reviewing an agreement that someone else has drawn up, you must look for any blank spaces throughout. This could lead to an incomplete contract, which could result in a contract that is not legally sound.
Check out this webpage for a complete checklist that you can use to make your next contract review job a breeze.
A huge part of the contract review process is ensuring that all the terms needed are present to make the agreement valid. Contracts are legally binding agreements, and must include certain key aspects in order to be legally valid.
Here are the top four most important requirements every contract needs to be valid:
Learn more about the characteristics of a valid contract by checking out this article.
Contract review cost varies based on a few different factors. One of the biggest things that impacts the cost of a contract review is who completes it. If you decide to complete the checklist on your own, for example, you will incur a much smaller fee than you would hiring a contract review lawyer.
Even though doing a contract review on your own can have less of an impact on your pocketbook, it could have detrimental effects. Since professional contract lawyers are well-versed in the language that valid contracts must have, it is much easier for them to decipher whether a contract is in your best interest.
They also possess valuable knowledge about state and federal law, so it is easier for them to spot a clause or requirement that could make the entire contract void.
Contract review services are typically provided by experienced lawyers that specialize drafting and review contracts. Sometimes these lawyers are known as transactional lawyers. Their main job is to help their clients through transactions, which typically involves negotiating contracts to make sure their clients get the best deals.
If you are considering how to find a lawyer to help with contract review, we would recommend finding a lawyer with experience in your industry that has helped negotiate transactions for similar clients. You can use ContractsCounsel’s marketplace to help you find a lawyer as well.
Post a project on ContractsCounsel today to get connected with contract review lawyers who are experts in helping their clients sign favorable contracts. All lawyers are vetted by our team and reviewed by users on the platform.
ContractsCounsel is not a law firm, and this post should not be considered and does not contain legal advice. To ensure the information and advice in this post are correct, sufficient, and appropriate for your situation, please consult a licensed attorney. Also, using or accessing ContractsCounsel's site does not create an attorney-client relationship between you and ContractsCounsel.
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I have had my own law practice since 2014 and I enjoy solving my clients’ problems. That’s why I constantly stay on top of the latest developments in the law and business of startups, entertainment, art, intellectual property, and commercial enterprise. I constantly keep learning because everything I learn helps me make my client’s life better. I assist clients in all aspects of copyright, trademark, contract, trade secret, business, nonprofit, employment, mediation, art, fashion, and entertainment law. Even though I am licensed to practice law in NY, I have worked for clients all over the country and even in Europe, Africa, and Latin America. No matter the client, I always look for ways to protect their assets, artworks, businesses, and brands with strategies to help them grow. I am a fluent bilingual legal professional who can analyze complex legal and business problems and solve them creatively for the benefit of my clients. I am detail-oriented and attentive which makes me excellent at negotiating, drafting, and revising all types of agreements and deals. I advise creatives and companies on intellectual property issues, risk management, and strategic planning. My clients love what I do for them because I employ a practical, client-tailored, and results-oriented approach to their case, no matter how small.
Dynamic Attorney helping people and small business owners protect their assets. Founding Attorney at THE CYA LAW FIRM, PLLC, in Port Saint Lucie, Florida. Offering a wide range of legal services including: Living Trusts and Wills, POA and Advanced Directives, Business Formation, Contract drafting, Business Counsel, Prenuptials and Postnuptials, and more. **Licensed in Florida and fluent in English and Spanish.
I have been practicing law exclusively in the areas of business and real estate transactions since joining the profession in 2003. I began my career in the Corporate/Finance department of Sidley's Los Angeles office. I am presently a solo practitioner/freelancer, and service both business- and attorney-clients in those roles.
My name is Ryenne Shaw and I help business owners build businesses that operate as assets instead of liabilities, increase in value over time and build wealth. My areas of expertise include corporate formation and business structure, contract law, employment/labor law, business risk and compliance and intellectual property. I also serve as outside general counsel to several businesses across various industries nationally. I spent most of my early legal career assisting C.E.O.s, General Counsel, and in-house legal counsel of both large and smaller corporations in minimizing liability, protecting business assets and maximizing profits. While working with many of these entities, I realized that smaller entities are often underserved. I saw that smaller business owners weren’t receiving the same level of legal support larger corporations relied upon to grow and sustain. I knew this was a major contributor to the ceiling that most small businesses hit before they’ve even scratched the surface of their potential. And I knew at that moment that all of this lack of knowledge and support was creating a huge wealth gap. After over ten years of legal experience, I started my law firm to provide the legal support small to mid-sized business owners and entrepreneurs need to grow and protect their brands, businesses, and assets. I have a passion for helping small to mid-sized businesses and startups grow into wealth-building assets by leveraging the same legal strategies large corporations have used for years to create real wealth. I enjoy connecting with my clients, learning about their visions and identifying ways to protect and maximize the reach, value and impact of their businesses. I am a strong legal writer with extensive litigation experience, including both federal and state (and administratively), which brings another element to every contract I prepare and the overall counsel and value I provide. Some of my recent projects include: - Negotiating & Drafting Commercial Lease Agreements - Drafting Trademark Licensing Agreements - Drafting Ambassador and Influencer Agreements - Drafting Collaboration Agreements - Drafting Service Agreements for service-providers, coaches and consultants - Drafting Master Service Agreements and SOWs - Drafting Terms of Service and Privacy Policies - Preparing policies and procedures for businesses in highly regulated industries - Drafting Employee Handbooks, Standard Operations and Procedures (SOPs) manuals, employment agreements - Creating Employer-employee infrastructure to ensure business compliance with employment and labor laws - Drafting Independent Contractor Agreements and Non-Disclosure/Non-Competition/Non-Solicitation Agreements - Conducting Federal Trademark Searches and filing trademark applications - Preparing Trademark Opinion Letters after conducting appropriate legal research - Drafting Letters of Opinion for Small Business Loans - Drafting and Responding to Cease and Desist Letters I service clients throughout the United States across a broad range of industries.