Home Q&A Forum Reviewing a business contract: cost?
Trustpilot

Contracts

Business Contract

California

Asked on Sep 21, 2023

Reviewing a business contract: cost?

I am starting a new business and need to enter into a contract with a supplier. I have been provided with a contract to review, but I am unsure of the associated costs. I am looking for legal advice on the cost of reviewing the contract and whether there are any potential pitfalls or areas of risk that I should be aware of before signing.

Answers from 1 Lawyer

Answer

Contracts

California

Answered 905 days ago

Eddy M.

ContractsCounsel verified

Business Lawyer
Licensed in California
Free Consultation
Member Since:
August 30, 2023

The cost will depend on several factors: - Length of the document - Quality of the contract (if it's poorly drafted then it will require more work to revise) - Complexity of the transaction (the more complex, the more time is needed to understand it and solve problems) - Your leverage vs. the supplier's (if you don't much leverage, then the contract will require a lighter touch as far as revisions) The best course of action is to do an initial consultation with your lawyer of choice to discuss the above. After that, the lawyer will be able to give you a sense of the cost, and make a proposal on either an hourly rate or a flat fee.

Use of the ContractsCounsel Q&A Forum does not create an attorney-client relationship between User and any Lawyer User. The Forum is not a substitute for legal advice from a lawyer but is intended to be educational and to help the user determine if legal services are necessary. The Forum, Content, and communications on the Forum do not constitute legal advice.
Meet some lawyers on our platform

Allen L.

69 projects on CC
CC verified
View Profile

Faryal A.

376 projects on CC
CC verified
View Profile

Jehan C.

6 projects on CC
CC verified
View Profile

Gregory B.

206 projects on CC
CC verified
View Profile

People Also Asked

Contracts

Business Contract

Washington

Asked on Sep 24, 2023

Business contract with non-disclosure?

I am a small business owner looking to enter into a contract with another party. I am concerned about protecting my intellectual property and proprietary information that I will be sharing with the other party. Therefore, I am looking for advice on how to draft a non-disclosure agreement that will adequately protect my interests.

5.0 (18)

Merry K.

Answered Sep 26, 2023

Creating a Non-Disclosure Agreement (NDA) is a crucial step to protect your intellectual property and proprietary information when entering into a contract with another party. Here's a step-by-step guide on how to draft an NDA that will help safeguard your interests: Understand Your Needs: Clearly identify what specific information you want to protect. This could include trade secrets, business plans, customer lists, product designs, or any other sensitive information. Consult an Attorney: It's highly recommended to consult with an attorney who specializes in intellectual property or contract law. They can provide you with tailored advice and ensure your NDA complies with applicable laws in your jurisdiction. Basic NDA Structure: Title: Start with a clear title such as "Non-Disclosure Agreement" or "Confidentiality Agreement." Parties: Identify the parties involved, including your business and the other party. Recitals or Purpose: Include a brief statement explaining the purpose of the agreement, such as why the parties are entering into it. Definition of Confidential Information: Define what constitutes confidential information. Be as specific as possible to leave no room for ambiguity. Obligations of the Receiving Party: Clearly outline the receiving party's obligations, including: The duty to keep the information confidential. The prohibition on disclosing, sharing, or using the information for any purpose other than the specified one. The requirement to use reasonable care to protect the information. Duration of Confidentiality: Specify the duration for which the information must remain confidential. This could be for a set number of years or until a specific event occurs. Exclusions from Confidential Information: Clearly list any information that is not considered confidential. This could include information that was already public, independently developed by the receiving party, or disclosed with your written consent. Consequences of Breach: Describe the consequences of a breach of the NDA, such as injunctive relief, monetary damages, or both. Jurisdiction and Governing Law: Specify the jurisdiction where disputes will be resolved and the governing law that will apply. Miscellaneous Provisions: Include any other necessary clauses, such as dispute resolution methods, severability, and the entire agreement clause (which states that the NDA constitutes the entire agreement between the parties). Execution and Signatures: Provide spaces for the signatures of both parties, along with their printed names and dates. Review and Negotiation: Allow both parties to review and negotiate the terms. Be prepared for some back-and-forth discussions before reaching a final agreement. Legal Counsel Review: Before finalizing and signing the NDA, have your attorney review it to ensure it meets your specific needs and is legally enforceable. Remember that NDA templates are widely available, but they may not fully address your unique situation. It's essential to tailor the agreement to your specific needs and consult with legal professionals to ensure it adequately protects your intellectual property and proprietary information. Additionally, you should make sure that the other party understands the terms and willingly agrees to them before proceeding with any confidential discussions or transactions.

Read 1 attorney answer>

Contracts

Business Contract

Florida

Asked on Oct 4, 2022

How to get out of a business contract?

I want to get out of a contract with our main vendor and have been reading the contract but it doesn't say much. I believe this is in the termination clause based on research, but it doesn't specifically say what I need to do. Any advice?

View Donya G.
4.9 (61)

Donya G.

Answered Oct 14, 2022

A contract generally has termination terms; that would be the way to get out. If there are no terms, then the best thing to do is negotiate with the party on an exit strategy that is agreeable to both parties. As a contracts attorney that specializes in contracts and contracts disputes, I would be happy to assist. You can connect with me on the website or through my profile page - Donya Gordon Donya

Read 1 attorney answer>

Contracts

Business Contract

North Carolina

Asked on Sep 24, 2023

Business contract with a termination fee?

I am currently in the process of starting a business and I have been presented with a contract that includes a termination fee. I am not sure what obligations I have with respect to this fee and I would like to know what kind of legal implications I may be subject to in the event of a termination. I am also interested in exploring the potential for negotiation of this fee in order to ensure that I am not overpaying for services that I may no longer need.

N'kia N.

Answered Sep 29, 2023

A termination fee is a payment that one party to a contract pays the other party for terminating the contract before it expires. The general purpose is to compensate the non-terminating party for resources used and/or opportunities missed as a result of entering into the contract that is then terminated early. A well-written termination fee clause will typically include the exact fee to be paid or, if not exact, a clear explanation of how the fee is to be calculated. Additionally, it will include a timeline for the payment(s). Unless the terms of the contract are otherwise contrary to law, the terminating party is presumed to be responsible for paying the stated sum at the stated time. While it is common for a business contract to contain a termination fee clause, a termination fee that is unreasonable under the circumstances is at risk of not being enforceable. However, disputing a termination fee clause can require a lot of the parties' time and money. Before signing a contract with a termination fee clause, all of the parties should be sure that they understand and agree with the clause. If you are considering signing a contract with a termination fee clause, you might have an attorney review it before you sign it. The attorney might even be able to assist you with negotiating changes, if needed or helpful.

Read 1 attorney answer>

Contracts

Business Contract

New York

Asked on Mar 23, 2022

Should I sign a contract if the terms and conditions don't apply to what I am buying?

I am about to sign a contract to rent a venue for my wedding ceremony (not reception). In the terms and conditions they state that I am responsible for paying $10,000 overtime per hour over the contract (which includes venue, staffing ,bar package). However I am having a ceremony only, there is no food or beverage being provided. And the only staff are 2 people to set up the room. Overall it seems the terms and conditions are more for a reception, not just a ceremony. Bottom line, should certain terms and conditions be removed from my contract if they do not apply to my ceremony?

View Donya G.
4.9 (61)

Donya G.

Answered Apr 1, 2022

Absolutely. Please do not sign a contract with terms that do not apply to you. Once signed, you would then be bound by those terms and conditions. Go back and ask them to remove the sections that do not apply to you before you sign. If you need additional assistance and wish to hire me to assist you in the review of your agreement or discuss the revisions with the venue, you can contact via Contracts Counsel. All the best. Donya Gordon

Read 1 attorney answer>

Contracts

Business Contract

Kentucky

Asked on Sep 11, 2021

Consultation about theater covid policy

We booked a local theater to put on performance. At signing of contract, there was no covid restriction. However, recently theater imposed a restriction to audiences who come to the show that they either vaccinated or show negative PCR test results within 72 hours of show. This new policy hurt our ticket sale badly. Please note, this is theater initiated policy, not from government.

View Donya G.
4.9 (61)

Donya G.

Answered Sep 24, 2021

You will need an attorney to review your agreement with the theatre in order to properly advise you based on the contract. As such, you will need to post your project on the website Here are the steps you need to take to accomplish this 1. Post the job you need to get accomplished – for example “ I am looking for an attorney to review an contract with a theatre to determine my options -------------“ 2. Once posted, attorneys on the website that are interested and qualified will respond to your posting 3. Choose an attorney/s based upon their qualifications and cover letter to have a quick call so that you can decide who you would like to hire. 4. After talking with attorneys, choose who you will decide to proceed with. Remember to discuss the cost of the project as well as how long it will take to be completed as well as when payments will be made. 5. Once you have decided who to hire, click “HIRE” and that attorney will now be hired by you. Donya Gordon, Esq.

Read 1 attorney answer>

Quick, user friendly and one of the better ways I've come across to get ahold of lawyers willing to take new clients.

View Trustpilot Review
Ask a Question
California Contracts lawyers by city

Contracts Counsel was incredibly helpful and easy to use. I submitted a project for a lawyer's help within a day I had received over 6 proposals from qualified lawyers. I submitted a bid that works best for my business and we went forward with the project.

View Trustpilot Review

I never knew how difficult it was to obtain representation or a lawyer, and ContractsCounsel was EXACTLY the type of service I was hoping for when I was in a pinch. Working with their service was efficient, effective and made me feel in control. Thank you so much and should I ever need attorney services down the road, I'll certainly be a repeat customer.

View Trustpilot Review

I got 5 bids within 24h of posting my project. I choose the person who provided the most detailed and relevant intro letter, highlighting their experience relevant to my project. I am very satisfied with the outcome and quality of the two agreements that were produced, they actually far exceed my expectations.

View Trustpilot Review

Find lawyers and attorneys by city