Using DIY Legal Templates for Business Can Be Disastrous
A quick search for online legal templates yields thousands of results that offer simple and easy-to-use tools. All you need to do is to fill in the blanks and you are good to go. Unfortunately, it is not that simple. Using those do-it-yourself (DIY) legal templates could spell disaster for your business.
At Engel Professional Association, our business law attorney in Minneapolis, Minnesota, can help you draft contracts so that they are customized to your particular goals and needs. We understand that contracts are an essential part of any business, regardless of the company’s type and size. From our office in Minneapolis, we serve entrepreneurs and business owners across Minnesota, including St. Paul, Woodbury, Maple Grove, Mankato, and St. Cloud.
Why Establishing Enforceable
Contracts Is Important
Many business owners are trying to save money and cut costs as much as possible when starting a business. Unfortunately, not many of them realize that establishing enforceable contracts is of great importance and substantially impacts the success of their business.
Business owners with no legal background often cannot ensure that their contracts are enforceable when using DIY legal templates from the internet. Instead, it may be worth the expense to hire a skilled business law attorney to help you draft a contract that is enforceable and free of potential loopholes.
In fact, using online templates to prepare a contract can sometimes cost more than hiring an attorney to help you draft an agreement from scratch. That is because fixing the inaccuracies and mistakes in a business contract can be quite costly, not to mention that a poorly-written contract could expose you and your business to a number of legal and financial risks.
Online Templates vs. Business Attorney
Below are some of the reasons to hire a business attorney to help you draft a contract instead of relying on online templates:
An attorney will make your contract legally binding. The biggest problem with using templates downloaded from the internet is their enforceability. An experienced business attorney understands the necessary elements to create a legally-binding and enforceable agreement.
An attorney can help you avoid pitfalls and loopholes. Unfortunately, online templates may leave loopholes that the other party to a contract could exploit. An attorney will help you avoid potential loopholes and pitfalls when drafting or reviewing a contract to protect your company’s rights and interests in the long run.
An attorney can help you understand what you sign before you sign anything. When you sign a contract, it becomes a legally-binding document. That is why it is critical to understand the terms of the contract and your obligations under it before you sign it.
An attorney will prepare a customized contract for your business. DIY legal templates offer “one-size-fits-all” solutions that may not suit your business. That is why you need a customized contract to meet your specific goals, needs, and circumstances.
An attorney can help you negotiate better terms. Your attorney can advocate for your best interests during the negotiation phase to secure favorable terms.
An attorney will keep an eye on legislation changes. The law is constantly changing. Online templates may not take those changes into account. An attorney, on the other hand, keeps up with new laws or regulations and can ensure that your contract is enforceable and up-to-date.
If you are considering hiring a business law attorney to help you write or review a contract or agreement for your business, contact Engel Professional Association. We provide a wide range of legal services to businesses in Minneapolis and across Minnesota.
Get Trusted Legal Support Today
Creating a business contract may seem simple on the surface, which is why many people mistakenly believe they can use DIY legal templates instead of hiring an attorney. However, online templates can have potentially damaging effects on your business. If you need help drafting or reviewing a contract, get trusted legal advice from our attorney at Engel Professional Association. Schedule a case review now.