Understanding Business Agreements

When forming a small business, it is important to have a business attorney Orange County walk you through the myriad commercial agreements you will have to set up. Any properly formed business necessitates drafting and approving a variety of formal contracts that govern different aspects of the business such as the office lease, purchase-of-goods agreements, contracts for IT or data storage, or professional service agreements. If these contracts are detailed and thorough, they will help protect your company from risk and liability. If these contracts are haphazard or worse, nonexistent, then your company may be exposed to serious liability concerns.

Business Leases

An industrial lease (such as for office space) is likely to be the most expensive obligation that a business can enter into at the beginning of its formation. Some commercial real estate owners require that business owners provide a personal guarantee of a lease from the business owner, which is a significant risk for any small businessman. Make sure you understand all the rights and responsibilities spelled out in the lease agreement so that they align with what you expect the business to need during the first year or so of its operation.

Professional Service Agreements

Professionals such as accountants, advisors, and lawyers often enter into professional service agreements in accordance with their respective professional associations, such as the state bar. They have certain ethical rules they are required to abide by when providing services and when deciding to sever a professional relationship.

Contact a Business Attorney Orange County

For help understanding the types of business agreements you might enter into, contact a business lawyer Orange County at Daily Aljian LLP.