Shake on it

Entrepreneurs who risk expensive legal battles after being tempted to trust in handshakes rather than pay lawyers to draw up business contracts are set to benefit from a new 24/7 online service launched by the Forum of Private Business and Legal365.com.
 
Often, particularly in the present economic climate, struggling owner-managers seek to sidestep lawyers’ steep contract-writing fees – which can run into the thousands of pounds – but leave themselves open to expensive disputes if they do not put in place proper legal documentation in important areas such as partnership agreements, payment terms, powers of attorney and intellectual copyright.
 
The Forum, a leading not-for profit business support and lobbying organisation, has joined forces with legal specialist Legal365.com to give businesses access to a vast range of binding contracts and other documents which are updated in line with legislative changes.
 
“It’s all too common for small-business owners to agree deals without any sort of written contract,” said Forum chief executive Phil Orford. “While steep lawyers’ fees can be a costly headache, entrepreneurs should not cut corners when it comes to putting in place professional business contracts. Failing to do so can be even more damaging in the long-run – handshake agreements are just not enough.
 
“The forthcoming deregulation of legal services means there will be significantly more affordable alternative to using legal firms to gain the peace of mind that comes with drawing up proper contracts.
 
“By joining forces, the Forum of Private Business and Legal365.com are providing small-business owners with easily-accessible, cost-effective legal protection and expertise whenever they need it.”
 
Legal365.com was set up by established law firm, Last Cawthra Feather LLP, which offers legal advice to businesses and private individuals.
 
www.fpb.org/LEGAL365
0845 612 6266