Commercial contracts and agreements

Commercial Contract Solicitors

Jacobs Legal’s commercial solicitors specialise in the drafting, negotiation, and review of commercial contracts. These contracts may include agreements related to the sale of goods, provision of services, employment, and intellectual property.


The advice helps businesses ensure that their contracts are legally sound, protect their interests, and minimise their risk exposure. Our contract lawyers provide advice on the negotiation and drafting of contracts, helping businesses understand their legal obligations and ensure that contracts comply with relevant laws and regulations.

Commercial Contracts

Commercial contracts are usually legally binding and are formed between two or more parties where the subject is primarily commercial. Although a commercial contract is often written down, it is equally as valid when it is implied, oral or informal.


Of course, having a written agreement in place makes it easier to prove the terms of the contract. It’s therefore preferable to have a written contract, wherever possible.



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Shareholders Agreements

Does your business have a shareholders agreement in place? We can help with drafting or updating your shareholder agreement, as well as answering any questions.


Sometimes referred to as a stockholder’s agreement, a shareholders agreement describes the operation of the company and sets out in writing the obligations and rights of the shareholders. It also covers the sale of the shares in the company.


A shareholders agreement is specific to your company and supersedes the standard articles of association.


A shareholders agreement is not legally compulsory, but if there are two or more shareholders in the business, it’s strongly recommended. You won’t need to file the shareholders agreement at Companies House.


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Partnership Agreements

The importance of a Partnership Agreement cannot be overstated. If you are in business with one or more people and do not have a formal written Deed of Partnership, you will have what is known as a “Partnership at Will”.


That means that legally, you will each have an equal share in the partnership whether or not you have each contributed the same amount

financially. This might be to your detriment if you are the Senior or Managing Partner as you will be jointly liable for the debts of the business but not entitled to a share of the profits reflective of your capital input.


A formal agreement will evidence the profit shares and responsibilities of each Partner and in the event of a disagreement between you, it will be clear as to what your legal position is with respect to the other Partners in the Business

If you are buying a Business, it is an essential element of the process and will provide reassurance going forward.

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Company Formations

Do you need guidance and advice on company formation? We have all the details on incorporation and whether it could be right for your business. 


If you are ready to start your own business, one of the first things you’ll need to get organised is the formation of your company. This is a larger job than it sounds as you’ll have to consider the different types of structure available. Each of these has its own pros and cons which may alter the liability and profitability.


The primary structures for company formation are:

  • Sole trader – a single person running their own business on a self-employed basis
  • Partnership – two or more people who manage the business together and split the profits
  • Limited Company – a legal structure which removes personal liability from the owner/s of the business
  • Limited Liability Partnership (LLP) – a hybrid structure which combines a partnership and limited company, removing personal liability but treating income as personal.


The size of your business and its specific needs will help to determine which structure would be the most beneficial. 


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Terms & Conditions

Do you have a clear and transparent set of terms and conditions included in your commercial contract? Find out more about what to include and what aspects to consider.


Every business should have a set of terms and conditions (the T’s & C’s) because it provides protection for your rights, as well as limiting your liability within the permissible parameters. Your terms and conditions should be incorporated into your contract and you should provide a copy of this to your potential buyer as soon as practically possible.


This could mean including your terms and conditions in your sales literature, displaying it on your website, or adding it onto every quote you provide. Giving your customer this information before the contract is formed is key.


While commercial contracts don’t have to be in writing to be accepted as valid, it’s advisable that they are. Your terms and conditions can assist by setting out a clear agreement that can’t be misunderstood, unlike an oral agreement.


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Are you looking for commercial contract lawyers near you?


When looking for a commercial contract solicitor near you, Jacobs Legal has 20+ years experience in your industry and a 5 star rating track record of successful contract negotiation and drafting. Read the reviews and testimonials from our clients.

“Jonathan Jacobs was introduced to me by Rodericks Dental who bought my Dental Practice in September 2020. I found Jonathan had in depth knowledge regarding NHS dentistry and the process in buying and selling dental practices. The sale was delayed for nearly 5 months because of Covid. During the sale Jonathan and his team had to deal with CQC and NHS England. Jonathan’s advice to me regarding problems from the sale was excellent. I would be delighted to recommend his service to any colleagues want to sell or buy any dental practices.”

 

Michael Somerville - Formerly of the Collegiate Dental, Manchester

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