Can I write a contract myself, or should I hire a professional?

[Mister]

I have the opportunity to get a profit share of the agency I work with and other projects are planned.

Now to make everything official, a contract is needed.

Would u guys suggest to just write something myself or to make something bulletproof from a lawyer?

 

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[Fastanerio]

What is your experience writing contracts?

 

[Mister]

What is your experience writing contracts?

I have none, but have a basic understanding of the tax laws

 

[Fastanerio]

I have none, but have a basic understanding of the tax laws

I'd find a lawyer.

 

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[Nick Catricala]

I have the opportunity to get a profit share of the agency I work with and other projects are planned.

Now to make everything official, a contract is needed.

Would u guys suggest to just write something myself or to make something bulletproof from a lawyer?

My opinion and suggestion is simple... Start by writing one yourself... to get an idea of what you want to write .. once you are ok with it use your version as a base and then hire a lawyer who is specialized in your field of business and draw a legal contract to work for now and in case things change in the future.

 

[Johnny boy]

Just take everything you want to be enforceable and think of all of the things that can go wrong and how disputes should be settled. Then write it down and agree to it. You can include damages for breaking the contract, clauses that say anything you want within reason, etc.

If there's a dispute and you are wronged, you would go and file a suit, likely in small claims court, and you'd present the contract and evidence that supports why they broke the contract or financially affected you in some way and owe you money. Contracts do not have to have much to them, just consideration and an agreement. (You must be giving something and they must be giving something).

A lawyer is like a modern day wizard or a shaman, they have "access" to "secret knowledge" that normal people do not understand, and deal in a different world of contracts, definitions, legal theory, etc. very similar to spells and magic. They make a motion, cite a previous case, say some words that make no sense and now one party owes the other millions, or someone is in prison for 5 years.

You are not in the realm of needing legal counsel yet. Many people who do not need lawyers get them anyways because they are fearful of nothing. You can use common sense to write your contracts at this level. Hiring a lawyer for this simple of a situation would be like hiring someone to tie your shoes.

I have paid a law firm for contract writing, and it was for my franchise disclosure document and franchise agreement that we will be using for all of our franchisees. That's because state regulators will be reading it, and if they (being highly trained and vicious assholes) do not like any part of our agreements or say that I failed to follow some random statute, I'll pay damages to the state and possibly be imprisoned, EVEN if all of our franchisees are happy and we are being completely ethical. So for that reason I've hired a law firm. 15 thousand for two documents.

Any lawyer you hire for cheap will be a dumb lawyer so you should just DIY until you can afford smart ones. I've spoken to many lawyers and realized that I knew more about the law than they did most of the time.