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Winter has come and gone, so now is when we gear up for the spring and summer. Now is also a great time to give your business contracts and agreements a spring makeover.

Contracts and agreements drafted years ago for one purpose may no longer adequately address your company’s growing business needs and likely have become outdated. Further, it is now important to evaluate and update your business policies and procedures and to determine what provisions in your agreements may need to be revised to ensure their effectiveness. You also want to ensure that your agreements comply with new federal or state laws.

The following is a list of some business contracts and agreements that should be reviewed at least once each year:

Corporate/Business Governance

• Shareholder/Buy-Sell or Limited Liability Company Operating/Partnership Agreement
  • Methods or formulas for the valuation of an ownership interest
  • Governance and management
  • Restrictions on transferability of ownership interests
  • Changes in tax laws
• Client/Customer/Vendor Contracts and Agreements

Employment

• Employee Handbook
  • Sexual harassment and discrimination policy and procedure
  • Social media and computer use policies
• Employment Agreements
  • Compensation
  • Restrictive covenants
• Employee vs. Independent Contractor

Real Estate

• Commercial Lease
  • Term of lease
  • Options to renew
  • Office expansion

Successful business management involves having the necessary and appropriate legal documents to protect and sustain the viability of the business. Regular review of your business agreements and contracts serves as a catalyst for strategic planning, which helps the company be proactive in addressing upcoming issues as the business evolves.

Business Law at Stein Sperling

Stein Sperling is rooted in serving the requirements of businesses large and small with attorneys who have experience in the business sector. We build a strong connection to our clients so we can better understand their needs and goals. Throughout the life cycle of each business, Stein Sperling’s attorneys work closely with our clients as strategic partners. We help them to develop legal solutions that provide efficiency in their businesses, achieve their objectives and protect their profitability and viability.