Business Contract Review

Clients Rate Lawyers on our Platform 4.9/5 Stars
based on 3,322 reviews

Jump to Section

Need help with a Business Contract?

Post Project Now

Post Your Project (It's Free)

Get Bids to Compare

 Hire Your Lawyer

What Is a Business Contract Review?

A business contract review is a thorough examination of a business agreement between two or more parties prior to signature. Reviewing the contract ensures that its terms are clear, fair, and statements are accurate.

Reviewing a contract before moving forward helps prevent issues that could lead to future disputes. When both parties agree upon the terms and conditions of the draft, they can move forward to signatures and have a sound executed contract.

Here is an article with the legal definition of a contract.

What Is the Business Contract Review Process?

Like all contracts, the business contract review process looks closely at the terms and conditions, warranties, and statements within the document. The person reviewing the document goes through the draft of the agreement line by line.

A lawyer reviews a contract to determine whether it’s both legally enforceable and fair to everyone involved. They pay close attention to wording, terms, and structure of the document. They also check whether all the necessary provisions are included, so the final contract will hold up in a court of law.

The purpose of the contract review process is to ensure that the document follows all legal requirements and protects the interests of both parties fairly. Whether it is a lease agreement or employment contract, every business agreement must be equal and fair to the signees.

Here is an article with ContractsCounsel’s guide to the contract review process.

What Do Lawyers Look for When Reviewing a Business Contract?

Lawyers are trained to review contracts and determine their accuracy, fairness, and legal enforceability. They ensure that there is a clear legal agreement presented, and that the terms of the agreement do not violate any laws or another person’s rights.

They also check that the document uses appropriate terminology and structure based on its purpose. For example, a 1099 independent contractor agreement will have different necessary components than a partnership agreement.

A professional business contract review from a lawyer can prevent oversights and legal errors; it can also provide you with greater protection based on the attorney's recommendations.

Before they assess the details, a lawyer will make sure a business contract contains its most essential components. Key elements of business contracts include:

  • Offer. The document must clearly express what is being offered or exchanged.
  • Acceptance. Both parties express agreement to the terms listed within the contract.
  • Consideration. The price of the contract (or transaction it details).
  • Mutual obligations. All parties have equal interest and investment in the contract.
  • Legality. A statement that ensures the contract becomes void if one or more parties fail to fulfill their obligations.
  • Lawful material. The document does not break any laws, regulations, or policies.
  • Capacity. Each party affirms their review and understanding of the contract, and they are all legally competent to enter a contractual relationship.

Specific components a lawyer will look for include:

  • Terms and conditions. These provisions outline the obligations of both parties, the terms of the contract, and conditions that must be fulfilled in order for it to be legally valid.
  • Warranties. Warranties are protections for buyers that guarantee their product or service is not defective. It also offers a repair or replacement under certain conditions, and within a certain period of time.
  • Indemnification. An indemnity clause protects a party from litigation by requiring the other to pay for legal fees if they sue them.
  • Termination agreement. Termination clauses reserve either party’s right to end the contract prematurely or break it according to certain terms.
  • Dispute resolution. Dispute resolution clauses and a dispute resolution agreement outline the steps parties agree to take to avoid litigation and minimize potential damages.

The lawyer will also closely examine the language of the document. Without the appropriate structure and phrasing, contracts can easily be disputed in court, and lengthy legal battles can result in damages to both parties.

The best way to protect yourself or your business is to ensure that your agreements all have the strongest wording, clearest terms, and protections in place.

Here is an article with what to look for in a business contract.

Meet some lawyers on our platform

Albert M.

8 projects on CC
View Profile

Briana C.

51 projects on CC
View Profile

Michael M.

87 projects on CC
View Profile

Jane C.

93 projects on CC
View Profile

How Long Does It Take to Review a Business Contract?

A business contract review can take anywhere from a few hours to over a month. The duration of the review process depends on the length and complexity of the agreement. For most contracts, you should be able to have a professional lawyer fully review your document within a week’s time.

Reviewing the business agreement on your own can take longer, as you need to not only review it for accuracy but also ensure it aligns with relevant laws and regulations. The additional research process can add hours of work to your review process.

One way that you can reduce the review process time is by using a contract sample from a reliable legal resource. Contracts that have been successfully written and executed can illustrate the language, form, and elements to look for in your own.

Here is an article with dozens of free contract samples on ContractsCounsel website.

Who Should Review a Business Contract?

The best person to review a business contract is a business lawyer, also known as a corporate lawyer. These legal professionals specialize in all elements of business law, so they know exactly what to look for in a contract.

In addition to professional legal review, business contracts should also be carefully discussed by all the involved parties. These are the people who will be directly influenced by the document, so they need to be fully aware of what is in the contract and agree to its terms and conditions.

A thorough examination will ensure that every party’s interests are considered, and the final document supports a mutual desired outcome.

Here is an article about who should review a business contract and what to look for.

How Much Does It Cost to Review a Business Contract?

Based on ContractsCounsel’s marketplace data, the average cost of a contract review is $608. A typical business contract review cost will likely be between $300 to $650. The more in-depth a contract is, the more it will cost to fully review.

You will also have to consider the cost of a business lawyer’s services; most business attorneys charge between $150 to $750 an hour.

Here is an article with a step-by-step guide on how to review a contract.

Common Types of Business Contracts

  • Business formation agreements. These documents establish the structure of a business, such as an LLC, partnership, or corporation. It can be a single-party business or multi-party agreement.
  • Customer agreements. A customer agreement governs business transactions between a buyer and seller/provider. They include terms and conditions, as well as a termination agreement to protect each party’s interests.
  • Employment agreements. Anemployment agreement outlines the nature of a person’s role within an organization, and includes all the details of their employment arrangement, including expectations, obligations, and benefits packages.
  • General business contracts. There are many types of business agreements that you may use, including a bill of sale, service agreement, and indemnity agreement. These documents have unique structures, but their purpose is to establish a professional relationship between two or more parties and outline the scope of their agreement.

Learn more about the different types of business agreements.

Post a project in ContractsCounsel’s marketplace to receive flat fee bids from lawyers for your projects. All lawyers have been vetted by our team and peer-reviewed by our customers for you to explore before hiring.

How ContractsCounsel Works
Hiring a lawyer on ContractsCounsel is easy, transparent and affordable.
1. Post a Free Project
Complete our 4-step process to provide info on what you need done.
2. Get Bids to Review
Receive flat-fee bids from lawyers in our marketplace to compare.
3. Start Your Project
Securely pay to start working with the lawyer you select.

Meet some of our Lawyers

Neilson B. on ContractsCounsel
View Neilson
Member Since:
March 26, 2022

Neilson B.

Managing Attorney
Free Consultation
Get Free Proposal
Charlotte, NC
3 Yrs Experience
Licensed in MO, NC
Shepard Broad School of Law

Let us discuss your plans.

Patrycja S. on ContractsCounsel
View Patrycja
Member Since:
March 28, 2022

Patrycja S.

Free Consultation
Get Free Proposal
Cleveland, OH, United States
2 Yrs Experience
Licensed in OH
Cleveland Marshall College of Law

Freelance attorney helping others beat overflow work by assisting with legal research, legal drafting, discovery, litigation support and client relations.

Jerry L. on ContractsCounsel
View Jerry
Member Since:
May 16, 2022

Jerry L.

Free Consultation
Get Free Proposal
Kingsport, Tennessee
5 Yrs Experience
Licensed in TN
University of Tennessee

Jerry provides legal advice to business owners regarding contracts, business law, labor & employment, wills and estates, and real estate.

Orly B. on ContractsCounsel
View Orly
Member Since:
April 21, 2022

Orly B.

Free Consultation
Get Free Proposal
New York (virtual)
7 Yrs Experience
Licensed in NY
Tel Aviv University

Orly Boger has worked in the high tech industry and in a leading law firm before launching her law firm. Orly focuses on startup companies and technology transactions. She structures and negotiates software and technology license agreements, strategic partnerships, cloud-based/SaaS agreements, internet related transactions, OEM agreements, supply, distribution, telecommunications. In addition, Orly has experience in serving as an in-house legal counsel for start up companies at various phases of their development, providing strategic legal advise to entrepreneurs and emerging companies with a comprehensive understanding of the business and legal issues. She has been helping companies develop a legal strategy for all aspects of their operations, from commercial transactions and partnerships, scalable SaaS or services agreements, privacy policies, employment related policies, open source licensing and much more.

Joel W. on ContractsCounsel
View Joel
Member Since:
April 7, 2022

Joel W.

Attorney at Law
Free Consultation
Get Free Proposal
Las Vegas, NV
23 Yrs Experience
Licensed in WA
Gonzaga University School of Law
Brian S. on ContractsCounsel
View Brian
Member Since:
April 16, 2022

Brian S.

Chief Legal Officer
Free Consultation
Get Free Proposal
Washington, DC
13 Yrs Experience
Licensed in DC, PA
Duquesne Law School

Corporate attorney with 13+ years of in-house counsel, people leadership and client management experience. Provides legal expertise and a business-oriented approach to problem solving and building lines of business. Consistently works under pressure, prioritizing and managing workload and simultaneous tasks to meet deadlines in a changing, fast-paced environment.

John M. on ContractsCounsel
View John
Member Since:
April 20, 2022

John M.

General Counsel
Free Consultation
Get Free Proposal
Jupiter, FL
19 Yrs Experience
Licensed in NJ, NY
Benjamin Cardozo School of Law

Seasoned professional with experience in wide variety of contract negotiation and review.

Daniel P. on ContractsCounsel
View Daniel
Member Since:
May 2, 2022

Daniel P.

Free Consultation
Get Free Proposal
New York
15 Yrs Experience
Licensed in NY
University of San Francisco School of Law

I primarily work with small businesses and the self-employed. I help my clients build sustainable businesses, navigate risk, and resolve conflicts. Most of my cases involve contract review, drafting, negotiation, and disputes; I also work on business entity formation, employment and independent contractor issues, copyright and trademark registration and infringement, and more.

Igor B. on ContractsCounsel
View Igor
Member Since:
May 4, 2022

Igor B.

Free Consultation
Get Free Proposal
Atlanta, GA
12 Yrs Experience
Licensed in GA
Georgia State University College of Law

As a corporate lawyer, I have dealt with international transactions, complex litigation and arbitration, regulatory compliance, and multijurisdictional tax planning. In March 2021, I started my firm and shifted my professional focus to working with start-ups, small businesses, entrepreneurs, and families. I help my clients structure and run their businesses and take care of their assets, including intellectual property issues and estate planning for their families. I try to bring big law quality and small firm personal attention to every client.

Cindy A. on ContractsCounsel
View Cindy
Member Since:
May 4, 2022

Cindy A.

Contracts Manager
Free Consultation
Get Free Proposal
Durham, NC
8 Yrs Experience
Licensed in NC

Attorney that has worked in both litigation and transactional fields. Motivated and personable professional. Speaks fluent Spanish and very basic Portuguese.

Michael V. on ContractsCounsel
View Michael
Member Since:
May 5, 2022

Michael V.

Corporate Counsel
Free Consultation
Get Free Proposal
7 Yrs Experience
Licensed in MO
Saint Louis University

Seven years experience reviewing and drafting corporate and transactional documents, including NDAs, LLC operating agreements, MSAs, employment agreements, etc.

Find the best lawyer for your project

Browse Lawyers Now

Want to speak to someone?

Get in touch below and we will schedule a time to connect!

Request a call