Fall Review

Fall is upon us. For business owners, this is a good time to review your contracts with vendors, partners, personnel, customers, and the like. Do you have any unwritten agreements that should be firmed up and committed to writing? Do you have any contracts, such as leases or service agreements, that are due for expiration or renewal? Do you have any long-term agreements that should be terminated or renegotiated? Many business litigations that I have been involved in could have been avoided if the business owners had been more active about documenting and protecting their contractual interests on an ongoing basis. You should consider this process routine, just like taking inventory or finalizing your books. Do this on an annual basis and you may save yourself some money, or even a big headache.