Commercial Contracts and Corporate Disputes
It is imperative that parties have formal written contracts that clearly document each party’s legal obligations towards one and other.
Businesses deal with commercial contracts on a daily basis whether it be with customers, suppliers or distributors etc. and often assistance will be required from legal experts when negotiating high value contracts or those that are fundamental to the running of the business. The corporate and commercial team at MKB Law, often advise businesses and individuals in relation to all manner of commercial contracts including;
Franchise Agreements;
Distribution Agreements;
Agency Agreements;
Outsourcing Agreements;
Service Agreements;
Drop-shipping Agreements; and
E-Commerce.
MKB Law can help take the stress out of the process of entering into a commercial contract by helping to negotiate to key terms of the contract, drafting the contract itself, amending or changing a contract and considering any termination provisions.
Sometimes, disputes and disagreements will arise that can be disruptive to your business which can reduce productivity and reputational damage. Are commercial litigation team have extensive experience in litigation and will take a direct approach to resolve disputes as quickly and cost-effectively as possible. The team has vast experience in representing clients in proceedings such as:
Director and shareholder disputes;
Commercial landlord and tenant disputes;
Construction litigation; and
Breaches of restrictive covenants.
Why do I need a properly documented commercial contract?
When negotiating a commercial contract, it is important that all of the parties’ obligations are clearly set out. Failure to negotiate a commercial contract properly can result in significant exposure to risk and liability, an inability to enforce agreed obligations against the other party, costly and lengthy disputes and/or litigation and can result in an unknown and direct failure to comply with legal obligations such as data protection.
Does a commercial contract have to be in writing?
Whilst there is no requirement for a commercial contract to be in writing, it is strongly recommended that they are formalised in writing in order to minimise risk in terms of confusion and any potential disputes.
What standard terms should be included in a commercial contract?
It is important when entering into a commercial contract that your business’s unique needs are taken into consideration. If you choose to use an “off the shelf” commercial contract, some of the terms may be unsuitable to your business and in turn could cost your business money.
What advice should a business take when entering into a commercial contract?
The level of advice needed will very much vary dependant on the nature of the contract in question. Even contracts that are commonplace in the day to day running of your business may need reviewed by a commercial solicitor to ensure that they are still fit for purpose and to ensure that there have been no changes in legislation that mean the contract should require revision.
What happens if there is a dispute over a commercial contract?
Dealing with a dispute in a commercial contract can be frustrating and stressful. It is imperative that you understand your legal and contractual rights in order to make the best decisions for your business and an effective strategy for resolving the dispute in place.
MKB Law have an excellent commercial litigation department who can help should a conflict or dispute arise.
