As a young lawyer, I had the opportunity to listen to a District Court Judge admonishing another attorney about his argument to the Court. After a while, the judge ruled against his client telling him ”. . .there is nothing more expensive than a poorly drafted contract.” Not being a part of this case, I was left to simply await my turn to present my client’s Motion and then return to the office. However, in the years since, I had a number of opportunities to see this truism come back to haunt a number of people and companies.
For example, I have had many clients who have to ask for help “after the fact”. After the contract was drafted (or not), and after the client has a dispute with another party.
- two investors arguing over money and what had actually occurred during the construction of a multi tenant facility;
- An owner of a company whose former employee was “stealing” clients;
- A salesman who was granted a 2% interest in a company as a part of his compensation package;
In the first example, our client had neglected to get an operating agreement in place. While this did prove problematic, the ill effects did not stop there. The other investor had free reign to take advantage of our client…and did.
In the second example, we were contacted by a prospective client who complained that a former employee was taking his clients which caused a loss of income. Because there were no agreement in place, there was little that could be done except to draft an agreement with a paragraph designed to protect against such issues in the future.
In the last example, a client called and wanted to draft an agreement to protect his 2% interest in a company. While we met, we also advised him of the need to draft some risk transfer clauses such as indemnity clause and to be included in the manufacturer’s insurance policy as an Additional Insured (this addition came at no cost to him).
At Thomas M. Fountain & Associates, P.C., our goal is to not only help our clients out of these precarious situations, but to avoid them altogether. We work with each client one-on-one to draft contracts specifically tailored to their needs and protecting them from any possible loopholes which could be used against them. Taking these preparatory steps now can save your business endless time, money, and energy in the future.
Call today to set up an appointment and discuss how we can help you with your contract needs.
The law firm of Thomas M Fountain & Associates, P. C. is an AV Preeminent rated law firm located in The Woodlands, Texas which is in the greater Houston metropolitan area. Thomas M Fountain has 35 years of experience upon which the firm’s clients draw when necessary. The firm prides itself on being proactive rather than reactive.
For more information see our Website at www.HoustonTrialLaw.com or call (281) 296-6500.
*Certifications not Implied.