Contract Review vs. Drafting
Is it better to have your lawyer prepare the contract or review the other party's contract?
Many people think it would be easier and cheaper for their lawyer to review an existing contract while the other party incurs the expense of drafting.
But often that's not true. Reviewing a bad or one-sided contract that needs a lot of revisions typically takes a lot longer and costs a lot more than drafting a contract.
Most importantly, reviewing a pre-existing contract gives up a huge advantage. Your lawyer has less influence over the deal because the review is usually limited to critiquing what's already there. The terms are less malleable. The best that the reviewing attorney can do is propose revisions that are logical, fair and defensible.
Providing the first draft is a valuable perk. When doing the original drafting, your lawyer can influence to a great extent the form and content of the final document. The initial draft sets the expectations of the parties and the parameters of any future negotiation. And it's probably more cost-effective to boot.