Answer: AVVO: Lawyer needed to write contract?

AVVO Question: Do I need a lawyer to write a business contract?

I am selling my business and I have found templates online for business contracts, but should I hire someone to write it? And how much would it be? I am a sole proprietorship business and I want to make sure that all sales are final


Bickerton Answer:

It is a little hard to tell from your question. Are you looking for contracts to sell your business or are you looking to make sure your business is in good shape and has good contracts with your customers and vendors? 

Couple things. You are allowed to write all the contracts you want. The law does not say that an attorney has to do it for you. However, what you really are paying an attorney for is advice, writing skills, and analysis to make sure you have a complete understanding of the whole issue(s), good and the bad. 

For instance. When you say you want to make sure that sales are final, you have to know what final means and when you can/can't do that. Depends on what you are selling. Selling a business could have a 2 or 3 year tail on it, selling a pet rock can be final all on its own. It all depends on the law and negotiations on the sales terms (including price). 

As a metaphor: Going it alone is kinda like looking at WebMD then self diagnosing and then creating your own course of care. Might work, might not. You decide your risk tolerance. 

Selling your business is most likely the second or third biggest deal of your life. I'd be hesitant to go it alone. Some kind of advice be it from a business consultant, attorney, banker....or all of those are a good idea. 

In the end, all consultants and advisors should be worth it. Consultants can help you get a price that, after their fees, is higher than you could get on your own. Or they should. Most lawyers believe they (we) are the best at everything. You should test the waters, plenty of us lawyers around to help. Any lawyer worth their salt should give you a free 15-30 min and you should like, trust, and understand what they are saying.