Contract Law Attorneys Supporting Business Owners
Contracts are truly the cornerstone of business. The law governing the formation of contracts, enforcement of terms and resolution of disputes is complex. Even relatively simple contracts can give rise to potentially expensive and time-consuming litigation if they’re not properly negotiated and drafted.
The Indiana law firm of Dale & Eke has been protecting and advancing our clients’ rights and interests in contract matters since 1978. As skilled business law attorneys, we offer a level of attention to detail, personal service and proactive counsel in a wide range of contract law matters, including the following:
- Contract negotiations, drafting and review
- The drafting and interpretation of noncompete and nondisclosure agreements
- General employment contracts and executive compensation agreements
- Leases and other real estate contracts
- Licensing and distribution contracts
- Negotiation, mediation, arbitration and litigation of contract disputes and breach of contract actions
- The drafting, interpretation and negotiation of healthcare professional contracts and joint venture agreements
Protect Your Business With Reliable Legal Counsel In Indiana
You have worked tremendously hard to get your business to the place where it is today. A bad contract has the potential to derail all your hard work. Enlist our help to ensure that your business is protected.
Frequently Asked Questions About Business Contracts
Below, we have answered common questions that clients ask about handling contracts in Indiana.
What should I look for before signing a business contract?
Signing a business contract makes you legally liable for your responsibilities listed in the document. These could include terms that can turn into costly legal problems in the future. Before you sign, consider reviewing the following terms:
- Scope of work: Check the obligations or services of each party involved and look for vague descriptions or expectations.
- Legal entities: See whether all parties involved have provided their full legal business names and addresses.
- Pricing structure: Learn how you would receive your pay and whether it would include additional expenses or perks.
- Payment schedule: Check payment due dates, late fees, interest rates, grace periods and early payment discounts.
- Term renewal: Look for duration clauses, early exit conditions and auto-renewal options.
- Intellectual property ownership: Clarify if all the work created under the contract is your property or the other party’s.
- Risk allocation: Be wary of vague language about liability caps, responsibilities during breaches and failed performance guarantees.
- Noncompete: Determine whether the contract lists reasonable scope, duration and geographical area while clarifying that the business is protecting a legitimate interest.
- Dispute resolution: Look for mandatory escalation steps, such as negotiation, mediation or binding arbitration, before taking legal action.
If the contract is unclear, our team can help you understand its clauses and explain your options.
When should I have an attorney review a contract?
Ideally, having legal counsel is essential in every business contract. Whether you are a new or long-time business owner, contracts can be risky to navigate alone. With an experienced contract law attorney on your side, you can quickly identify significant financial, operational or legal risks.
If you are facing a deal that can potentially involve significant financial and legal risks, consider seeking an attorney’s guidance. They can identify clauses that come with severe consequences that can affect your business operations and finances. Your lawyer can also determine whether the drafted contract favors one side entirely. Additionally, if you do not fully understand a provision, they are ready to answer your questions.
At Dale & Eke, we want you to sign a business contract you follow easily. You can trust us to find possible disputes, unforeseen liabilities and enforcement issues before signing.
What can I do if a party breaches a contract?
When a party breaches the contract, review the document for terms outlining notice-to-cure periods or specific dispute resolution processes. Ensure you send a demand letter to the breaching party, providing a specific fix or payment with a reasonable response deadline. If you can settle the issue outside court, discuss the resolution in mediation or arbitration sessions. Consider litigation if the breaching party refuses to cooperate.
Under Indiana law, you can seek compensation for the direct losses that result from the contract breach. The courts may order the breaching party to perform their specific contractual obligations when the goods or subject matter are unique.
Assess Your Business Contracts With Dale & Eke Professional Corporation
As legal practice, our goal is to foster a beneficial long-term relationship with our clients. Our firm offers focused attention to your evolving legal needs and a dedication to results and communication. We invite you to contact the offices of Dale & Eke today to schedule an initial consultation with an experienced corporate law attorney for all of your legal needs for your business.
Call us in Indianapolis at 317-844-7400 or send us an email.