Wheaton Area Business Contract Lawyer

Attorneys for Contract Drafting, Negotiation, and Review in Glen Ellyn and DuPage County

Business owners regularly make agreements with other companies, clients or customers, their employees, and other people or organizations. While verbal or handshake agreements may suffice in some situations, there are others where it is necessary to establish a written contract. This will make sure all parties involved understand their rights, their obligations, and the consequences they may face if they do not honor the agreement. A skilled business law attorney can help create contracts that will be valid and enforceable, providing the protections that business owners need.

Attorney Nicolas Nelson and the lawyers of NN Legal Group have been working with clients for over 12 years to address business law concerns, as well as matters related to family law, real estate, and estate planning. We will advise you of the steps you can take to protect your interests in contractual agreements, and we will provide guidance to help you make informed decisions about what is best for your company. With our help, you can continue to operate your business successfully in the years to come.

Types of Business Contracts

A contractual agreement consists of three elements: an offer, in which one party proposes the agreement with the other party; acceptance, in which the proposal is agreed upon, usually by signing the contract; and consideration, in which something of value is exchanged. For example, a business may offer its services to another company, and the consideration will be the payment received in exchange for those services. In these cases, a contract will typically define the scope of the work to be performed, the dates when the work will be completed, and the actions that may be taken if either party does not uphold the terms of the agreement.

Businesses may use multiple different types of contracts, including:

• Partnership or shareholder agreements - During the business formation process, a company's owners, partners, or shareholders may create an agreement that defines their roles and responsibilities, including the processes followed when making major decisions and the parties' involvement in day-to-day operations and management. These agreements may also include details about how ownership shares may be sold or transferred if a partner chooses to leave the company in the future.
• Vendor or business-to-business (B2B) contracts - These contracts may address goods that will be sold and delivered by one company to another person or organization, or they may define the services that a company will provide to a client. In addition to defining the time frames and methods of payment, a contract may place certain restrictions on the parties, such as non-disclosure agreements related to a company's processes or trade secrets.
• Employment contracts - Employers may use these contracts to define the terms of employment for both employees and independent contractors. Employment contracts may address the scope of work that will be performed, the hours a person will be expected to work, and the compensation they will receive, including wages and benefits. Employment contracts may also include non-disclosure agreements that prevent a person from sharing a company's trade secrets or proprietary information, or non-compete agreements may prevent an employee from directly competing with the employer if they leave the company.
• Commercial lease agreements - A business may lease space where it will conduct operations, or a property owner may lease their property to commercial tenants. In these cases, a lease agreement should specify who will be responsible for paying expenses such as utilities and maintenance, and it may also address the types of business that can be conducted on a property and whether improvements can be made by the tenant.

Contact a Lombard Contract Law Attorney

At NN Legal Group, we can help you draft contracts and negotiate terms with other parties, ensuring that your agreements will protect your rights and meet your needs. We can also review your existing contracts to identify any issues that may need to be addressed and determine whether a new agreement may need to be negotiated. We can help you resolve contract disputes, and if necessary, we will provide you with representation in business litigation related to breach of contract claims. To learn more about how we can assist with contract law matters, contact us and set up a free consultation by calling 630-474-0925. We provide legal help to businesses in DuPage County, including Glen Ellyn, Villa Park, Carol Stream, Wheaton, Glendale Heights, Bloomingdale, Lombard, and Addison. Hablamos Español.