With summer coming to a close, now is the right time to check the contracts for your startup are in order before everyone comes back from holiday and we move into the last months of 2017. It’s also time to think about 2018 and what needs to be in place for the New Year.
Why review contracts?
It is surprisingly easy to fall into the trap of preparing contracts once then assuming everything is okay. That would be a mistake. Just as commercial conditions never stop changing, neither does the law. Contracts need to constantly evolve and should be reviewed regularly to reflect the changing commercial and legal landscape. And to ensure you are adequately protected in the event that something goes wrong. For example changes to the law may necessitate changes to your contracts. If you regularly enter into contracts using standard Terms & Conditions you need to make sure changes in the law are reflected in your terms. Two examples – data protection and Brexit, both of which we cover in the checklist below of key areas to look out for as startup businesses move towards the last quarter of 2017 and plan for 2018.
Contract Review Checklist:
Contract reviewing should be a regular practice for startups and considered an investment to ensure your terms are up to date and work most effectively for your business. It’s also an investment in ensuring that, in the event of a dispute, your risks are minimised and the issue is dealt with in the most effective manner. Don’t neglect this key foundation of your business legalities.
Richard Beckwith, Lawbite Lawbrief.
Arrange a free 15 minute consultation with an expert lawyer to discuss your business legal needs, including contract checking by clicking here.
Our legal partner Lawbite are also offering fantastic summer discounts with £15 off £99 contract reviews (providing a review with feedback for only £84 for up to 20 pages) as well as 10% off any contract drafting. To take advantage of either of these special offers you can click here and complete the online form (including ‘summer offers’ in the text when you enter your enquiry) or call 0207 148 1066 again mentioning Lawbite’s ‘summer offers’. These offers are only available until 31st August 2017.