In my psychology class at Boise State University, our class read about a study where an elementary school had a playground an acre long with no fence around the playground. The playground abutted a busy city street. All the kids played near the school buildings and did not venture out into the playground because they were afraid of the busy street. The school erected a fence and all the kids started to use the entire playground, even up to the edge of the fence.
There is a parallel to business law contracts. A well-written business contract lets everyone know where the boundaries are, so both parties can enjoy the full advantages of the business arrangement. This can also lead to a more mutually beneficial relationship.
Since becoming a business attorney in 2001, I have drafted and reviewed a plethora of business contracts (see link for examples of drafted business law contracts). With this experience, I can give a fairly reliable cost-estimate of legal fees for reviewing, editing, or drafting a business contract. Working primarily with small to mid-tier business owners, I know this is important so you can budget for legal services.
At Levinson Law, LLC, the contracts are created from two sources: (1) templates from years of drafting; and (2) client input for the client’s specific business and legal structure, ultimately conforming to the accepted legal principles of business contracts.