Tanya S Osensky
Let them write the first draft? No way!
Steve owns a bakery and is worried about cash flow. He has been discussing a distribution deal with a commercial kitchen, but the discussions quickly got difficult.
He asked me if it would save money if the other side drafted the contract so that he could negotiate the terms and then have me look over the final version before signing it.
Actually, bringing a business lawyer in the early stage provides the greatest advantage. Giving the other side the first draft to review lets you be the one to set the parameters of the deal and establish a psychological anchor for future negotiations.
Steve may know what he wants to get out of the deal business-wise, but he probably doesn’t know the best way to write it. On the other hand, I know what terms matter, and how to write them to protect my client while still being fair.
Even if you hate contracts, you know that they’re important to your business. This is one of those things that are best delegated to someone with the experience and education to get it done right.