Contract Negotiations: Why Using Your Own Contract Is A Must

While it might seem like a minor point in what can otherwise be more substantive contract negotiations at the outset of a business relationship, wherever possible, you should insist on using your own contract. When negotiating a business relationship, it is common for both parties to have on hand their own version of a given agreement (such as a Licensing Agreement, List Management Agreement, and Lead Purchase Agreement). It is essential that you insist on using your own contract when you are ready to memorialize any joint venture, marketing partnership, or other business opportunity. 

Your Contract, Your Terms

The reasons are simple, though significant: a properly drafted agreement by qualified legal counsel should put you at an advantage compared with your prospective business partner. In drafting a contract, your legal counsel will use the nuance of language to emphasize specific prioritized deal points. In addition, your counsel will design the contract to