Business Contracts: Turn Any Business Contract to Your Advantage / Edition 1

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Overview

Create and Review Your Own Contracts

Minimize your legal risks and lock in profits as experienced contract attorney Laura Plimpton walks you through a fail-safe method of reviewing any contract. Learn to identify and neutralize the trick phrases that can create enormous risks for you and your business. Plimpton's expert advice can save you thousands of dollars in legal fees and may just prevent you from entering into a contract that could bankrupt your business.

Plimpton covers:

  • A 10-minute foolproof system for reviewing any business contract
  • 23 terms that bulletproof a contract
  • 6 secrets for successful contracts
  • 5 terms that can ruin a deal
  • Powerful strategies for turning any contract to your advantage

Use this arsenal of tools to protect your business by making sure every contract you sign is fair and binding.

Critical checklists and sample contracts on CD-ROM!

Sample contracts include:

  • Consulting Agreement
  • Construction Agreement
  • Service Agreement
  • Assignment and Assumption Agreement
  • Independent Contractor Agreement
  • Facility Agreement
  • Terms of Sale
  • Terms of Purchase

And critical checklists for:

  • Modifying or extending an existing contract
  • Service agreements where your company is the service provider
  • Purchase orders where your company is the seller or buyer
  • Contracts where your company is the buyer of services
  • And more!

For more than 28 years, Entrepreneur has provided the most trusted business advice available to business owners. Our legal guides continue that tradition by offering current and cost-effective legal advice so you can resolve the business and legal issues you face on a daily basis. We'll also strive to help you identify when it's in your best interest to seek the personalized advice and services of a practicing lawyer.

Laura Plimpton has 26 years of experience as a corporate lawyer, business owner and management consultant. She has reviewed or drafted more than 12,000 contracts. She has served as chief legal officer for several companies as well as worked in law firms where she litigated contract actions and advised businesses on operating with the least risk of facing litigation. Past clients include the City of Los Angeles, the Arizona Lottery and Western Airlines.

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Product Details

  • ISBN-13: 9781599180724
  • Publisher: Entrepreneur Press
  • Publication date: 2/8/2007
  • Series: Entrepreneur Magazine's Legal Guide Ser.
  • Edition description: Book & Audio CD
  • Edition number: 1
  • Pages: 320
  • Product dimensions: 7.50 (w) x 9.00 (h) x 0.85 (d)

Meet the Author

Laura Plimpton has 26 years of experience as a corporate lawyer, business owner and management consultant. She has reviewed or drafted more than 12,000 contracts. She has served as chief legal officer for several companies as well as worked in law firms where she litigated contract actions and advised businesses on operating with the least risk of facing litigation. Past clients include the City of Los Angeles, the Arizona Lottery and Western Airlines.

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Table of Contents


Introduction Exercising Personal Control over Contracts     xi
Protecting Your Deal from Alligators: What to Include in the Contract     1
Six Secrets to Save Your Shirt (and Your Profits or Career)     3
Recognizing the Hidden Contract That Can Hurt You Later     4
How a Company Name Can Be Good As Gold     6
When Signing a Contract Can Threaten Your Home and Savings     8
The Missing Business Point That Kills a Legally Perfect Contract     11
Nailing Down Three Hazardous Deal Points That Are Litigation Hot Buttons     13
Deterring Harmful and Hard-to-Detect Changes to the Contract after t's Signed     15
Bulletproof Terms for Every Contract     17
Alligator Repellant: 23 Bulletproof Terms to Prevent Attack     18
Modifying Terms So They Don't Strangle Your Company     36
Recognizing When the Term Helps Your Company, Their Company, or Both     38
Throwing Out Terms That May Hold Your Business Deal Back     39
The Quick, Simple Review System     42
A 15-Minute Strategy for Conquering a Contract     43
A Map to Where the Monster Alligators Live     44
Making a Contract Form into a Useful Agreement     46
Step-by-Step Practice with a Service Contract     47
Step-by-Step Practice with a Contract for Goods     61
Trading a Blue Alligator for a Red One: Strategies for Changing Contracts     71
Smart Ways to Modify a Contract Already in Effect     73
Adding, Deleting, Changing, but Keeping Most of the Original Contract     74
When and How to Do an Amendment     75
Restating a Contract and When It's a Wise Move     78
Winning at Getting Changes to the Contract     80
Deflecting Alligators: Strategies for Making Their Contract Good for You     81
Getting Past the "We Can't Change the Form" Argument     83
Solutions for Changes Requested to Your Contract     85
Recognizing When Change Requests Are Alligators in Disguise     86
Avoid Getting Eaten When Modifying Payment, Specification, and Termination Provisions     91
Don't Get Eaten: Essential Customer Contracts     95
Contracts to Sell Services     97
How to Use a Service Agreement to Avoid Alligators     98
Key Issues to Address in Contracts to Sell Services     99
Turning Your Proposal into a Contract     100
Review of an Independent Contractor Agreement     101
Contracts to Sell Products     122
If You're Selling Goods, State Law Writes the Contract: How to Modify It      123
The "Implied by Law" Terms of Your Contract for the Sale of Goods     124
UCC Terms of Sale for Goods     125
What Contract Prevails if Both Parties Send Purchase Orders to Each Other?     130
Bulletproofing the UCC Terms     131
Save Time, Risk life: Using the Buyer's Purchase Order for the Deal     131
White Alligators: Terms Unique to Selling Products     133
Review of a Purchase Order     134
Exterminators and Stuffed Alligators: Buying Services and Products     145
Contracts to Buy Services     147
Winning Reasons for Applying Contract Secrets to Contracts to Buy Services     148
Turning a Contract to Buy Services to Your Advantage     149
Using the Service Provider's Proposal As a Statement of Work     154
Review of an Agreement to Provide Bookkeeping and Payroll Services     155
Contracts to Buy Products     169
Even If You Don't Sign a Contract to Buy Goods, the Law Provides One     170
How to Modify the UCC to Protect Your Company from Alligators     171
What If Both Parties Send Their Purchase Orders to Each Other?     172
Defer to the Seller's Purchase Order If You Want to Lose a Limb or Two     173
Review of a Buyer's Purchase Order      173
Sample Agreements     193
Index     273
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