The Dangers of DIY Contracts

Do you consider yourself a do-it-yourselfer? After all, thanks to the unprecedented accessibility of information in the Internet Age, DIY is now all the rage. You can Google how to do just about anything you want.

But just because there is information at your fingertips, doesn’t mean you should rely on it, particularly in place of the advice of trained professionals in situations where there is a great deal at risk.

Would you invest millions in the stock market on a whim with no prior experience and without consulting with a knowledgeable financial advisor? Would you take medical actions into your own hands and try to perform a surgical operation on a friend? Then when you are building a business—upon which your livelihood and your legacy depends—why would you apply the DIY mentality to the most vital aspects of running that business?

“I’m cutting costs,” you might say. Unfortunately, the cost of insufficient or ineffective legal strategies will far outweigh the money you saved by not enlisting the services of a business attorney to help you prevent or minimize the damage from legal issues. The costs of hiring an attorney may seem inconvenient at the time, but the costs of a lawsuit could quickly prove ruinous.

Contracts in particular serve as the protective shield of your business against malicious or frivolous litigious action. And do not kid yourself, we live in an exceptionally litigious society and nearly all business owners will get sued at some point or another. In previous blogs we have discussed the vital importance of strong contracts for protecting your business. Without strong or effective contracts, you risk everything you’ve worked so hard to build.

There are numerous online services that provide templates for contractual agreements. So, why shouldn’t you just use these documents? The fact is, these documents will never be tailored directly to your business and its goals. They could include clauses that are not only ineffective, but contrary and even damaging to the contract’s intended purpose. Without a thorough and working knowledge of US contract law and business law, it is much too easy to make mistakes or utilize contract templates that do far more harm than good. To put it simply, you are rolling the dice with your company’s future.

A business attorney will take the time to know and understand your company and your business goals. He or she will be able to provide you with contracts tailored directly to your needs, that you can rest assured will both minimize your risk for potential lawsuits, and give you the legal advantage if you ever do face a lawsuit. When it comes to your company’s contracts, reject the do-it-yourself attitude, and enlist the services of a trained business attorney to ensure you are properly protected. Call Integrated General Counsel today to have us review existing contracts, or to draft new ones for your company.

Integrated General Counsel