Write an article based on this "Evaluate your contract. Identify the legal parties who will sign the contract. Check for deviations in wording. Verify that you are using the correct legal entity. Re-confirm the terms of contract and sign."
Even if the legal team of your company has prepared the contract you will be using, it's best to at least skim the document to make sure it is the contract you need and all necessary components are in place. Every contract should have: An offer. An acceptance of the offer. Sufficient and clear "consideration" as to the exchange that will occur with the acceptance of the offer. Legally, this may include a person authorized to bind a company to an agreement, a corporation, or a limited liability company (LLC). Clearly determine who will be signing the contract and whether or not that person has the legal ability to sign your contract. Errors in wording can render your contract null and void, which can lead to legal repercussions down the road. If you are dealing with a company that uses a fictional name, this information should be included along with the full legal name of the company with which you are doing business. An example of this might look like: This agreement, dated March 12, 2016, is between ACME INDUSTRIES, INC., a Michigan corporation, and JOHN SMITH CONSULTING, INC., an Ohio corporation doing business as the Consult Expert. An unaware business owner or client might not know the consequences of using a fictional business name or using an imprecise Doing Business As (DBA) company name. A sole proprietorship, as an example, is not separate from its owner in legal terms. Check and be sure that you have the correct full name for the company or legal entity you are signing a contract with. Company names and DBAs can be checked at the Secretary of State, or in the state records of the state the company was formed. Many of these searches can be done online for free, though some states may charge a small fee. Take a moment before signing to go over the terms of your contract with the signing party. Double check that the person signing is the legally correct person to enter into a contract with you. Once the terms are approved, have all necessary properties sign and date the contract.