Enriching Life Through Innovative Ideas SM

How can I prevent contract disputes from occurring?

If you’re a business owner in California, the prospect of contract disputes can be daunting. Binding agreements are an essential part of doing business no matter the type of goods or services you provide, and avoiding disputes can save both time and money (while also ensuring your business is able to thrive). Inc.com offers the following advice in this case, which will ensure any agreements you enter into are valid and legally binding.

Perform Due Diligence

While it may seem ridiculous, some people will misrepresent themselves when signing a contract. This will render the contract invalid, which could result in you losing a significant amount of money or even jeopardizing your business. Due diligence is key in this case, as the investigation will allow you to verify that the signee is who they say they are.

Have Clear Information on Costs

Money is a major source of contract disputes. Providing clear information on costs is one way to combat this, as there will be less risk of other the party finding fault with the requested expense. Creating a budget should be the first step to determining costs; make sure you include any variables such as few charges or other overlooked expenses.

Get the Contract Notarized

Having a contract notarized will serve two distinct purposes. First, the person signing the contract is far more likely to read the document if it’s been notarized. Additionally, the person will be unable to claim that he or she didn’t actually sign the document (since an ID must be presented upon signing). That way you can rest assured that your agreement is enforceable, which will be crucial in the event you end up in court.

FindLaw Network

What Our Clients Say

Starting a new business can be a bit scary. Aside from worries of failure, there’s also the hassle of making sure all legal paperwork are properly filed. I reached out to Mr. Wang (Tommy) because of his excellent reviews and reputation and I am so glad I did. He was thorough and meticulous in answering all of my concerns and took time to find out special laws and policies regarding the kind of business I am starting. I could focus on the daily practical side of starting my new office without worry because I felt Tommy was reliable and took my case seriously. My business is opened and it’s all been a smooth start because of Tommy’s help. I have plans to start another business venture in the next few years and I already know I’ll be coming back to Wang IP Law.

The Shindig W.

I came to Tommy for help reviewing a licensing agreement I had secured with a well-known manufacturer. Tommy made sure I understood all the details in the contract and he negotiated with the company to improve my side of the deal. I mentioned to Tommy at my first consultation that we were looking to expand throughout the US and were investing a lot of money to make a big entrance into the market. I did not think I would have my store open so soon but Tommy also has connections with the local area and realtors to help me secure the location for my first store in the Los Angeles area. Tommy works a lot with the local businesses and he understands how to transition from the Asian market to US market. Within 8 months my store was open for business and fully operating. I must recommend Tommy to any business owners looking for help with contracts and improving their side of the deal. Tommy has the knowledge and experience to make sure there is a smooth process to open for business here, and make sure that your company is set up for success.

LI H.

I think Tommy and his team by far considered the best people to work with in my 16 business years. Beside quick responses to all my inquiries, they also done things right and providing very professional solutions. I’m highly recommending Tommy and his firm to all business owners.

Calvin C.

I have been working on my Utility Patent for almost 4 years. I have hired and fired two very reputable IP firms because with all their expertise and reputation for being some of the top firms in IP Law, I felt a lack of connection and care in my product, time and financial investment. Then I found Tommy and his team. Tommy does not waste time. He and his team are professional and extremely thorough. After 4 years, I finally found a legal team that I felt spent the time to really understand the components of my utility patent. Tommy also very mindful of cost and how and where my money would be better spent. I really feel I am in great hands with Tommy and his team. They have been patient with my revisions. And most importantly, they made me feel that they fully understood the importance this patent is to me. It has been a great and comforting pleasure working with Tommy.

G.L.

Read All