Why DIY Business Documents are a Bad Idea
Many people take great pride in being able to tackle projects on their own. The Internet is full of websites providing instructional videos or answers to most any problem you encounter. This is true even for the creation of legally binding documents. However, before you decide to draft all of your company’s contracts without seeking legal advice, you should understand that “do-it-yourself” legal websites are very different from those telling you how to fix your garage door or change the oil on your car. There is a reason attorneys go to school for years before they can represent you – nothing can replace the knowledge and practical experience that is offered by your lawyer.
There are a wide variety of reasons who DIY legal documents for your company are a bad idea, but below are a few to consider:
- No two businesses are identical and you should have your legal documents drafted to specifically meet your unique needs. DIY documents are very general and they typically try to cover a variety of business types in one standardized document. Additionally, a DIY book or website does not ask you all of the necessary questions concerning your individual circumstances to anticipate any potential liabilities your company will face. By saving a little money now, you could unknowingly be setting your business up for significant and costly risk in the future.
- The saying that the “devil is in the details” is no more true than when dealing with commercial contracts. If you fail to include one important provision or you do not address a certain issue, it can be devastating to your business. A seasoned business attorney understands that details matter and how to prevent small but costly mistakes that lead to litigation.
- While having a written contract is essential, you must understand that it is the relationship with the other party that truly matters. Negotiating an agreement allows you to see how the other party will act in your dealings with them. If the negotiation process goes smoothly, it can be a good sign. However, if not, it may be a red flag and you must decide whether you want to proceed with the relationship or not. Having an experienced legal advisor on your side can help you vet your relationships and make the decision on whether to move forward with the transaction. This critical decision can save you thousands of dollars in many instances.
- Working with a business attorney means that you have an advisor that is familiar with your business and your goals. As issues arise, your attorney is a phone call away and ready to provide the advice and guidance you need. A DIY website does not provide this service, so you are left on your own. You might be surprised at how many disputes and problems your lawyer can solve with one simple telephone call.
If you are starting a new business, let us help you draft strong legal documents. We can ensure that you comply with all the various applicable laws, regulations and rules. The attorneys at Nielsen Law Group can help with all business formation matters. You can schedule your initial consultation by calling (480) 888-7111 or submitting a web request here.