Business Lawyer Services: Buying Out Contracts And Adding Investors

If your business is looking to expand or restructure during the COVID-19 pandemic, a business lawyer services firm can help you navigate the legal landmines that can expose you to risk.

Here are some of the services a business lawyer can deliver if you're considering buying out contracts and/or adding investors.

Coming to Terms

Whether you're looking to buy out a bad contract or you're looking to negotiate your employment contracts, you need to get all parties involved to come to terms. Your business lawyer can help mediate disputes, suggest compromises, nullify existing contracts, or create more favorable contracts for your business.

  • Middle Man: Convincing an employee, vendor, investor, or business partner to renegotiate an existing contract can be difficult. Your business lawyer services firm can be the middle man for all of your negotiations. You can have them by your side as you negotiate. You can also have them negotiate with other lawyers involved in the transaction. Using a business lawyer to facilitate mediation can help you avoid litigation, which will save you time and money.
  • Endings and Beginnings: Nullifying existing contracts in favor of new agreements will require legal maneuvering. Your business lawyer can help you nullify existing contracts and settle any future obligations stipulated by the contracts. For instance, if your existing contract with a vendor stipulates an exclusive purchasing agreement for 3 years, your business lawyer can help you settle this aspect of the contract with a payout or a new type of agreement.

Adding Investors

If your business is looking for an influx of capital, you might need to attract new investors to your venture. When adding new investors, you need to create contracts that protect against potential disagreements and legal entanglements.

  • Creating Boundaries: It's natural for investors to take an interest in the businesses they trust with their money. However, creating boundaries for your investors should be clear from the moment you accept a single investment dollar. For instance, your business lawyer should draw up a contract stipulating how an investor should communicate with your business, the chain of communication they should use, and when they should expect an update on the state of their investment.
  • Cashing Out: If an investor and/or business doesn't provide an escape hatch, both can feel trapped. Your business lawyer can draw up a contract that makes everything clear. If, for instance, an investor wants to cash out their stake, that process should be outlined in writing.

For further information, contact a business lawyer service