Why "keep it simple" may not be.
A lot of people operating small businesses aren’t keen on wordy contracts, and prefer to “keep it simple” by minimising documents or even doing deals on a handshake. As a naturally easygoing person I have a lot of sympathy for this approach, and as a service provider I certainly don’t like to put customers off with complicated paperwork. But. There’s always a but isn’t there? The reality is that eschewing the paperwork in favour of trust and “she’ll be right” carries with it a lot of risk.
Here are some examples of the kinds of risks I’m talking about:
disagreements between two parties about what was agreed, which can lead to relationship breakdowns;
one party taking on more financial risk or liability than they should, considering what they’re getting from the deal;
a party breaching legal requirements and becoming exposed to enforcement by government agencies or legal claims by other parties.
I know it’s appealing to keep things simple, but in an increasing complex legal environment it’s not worth taking these kinds of risks.
A skilled lawyer can provide a business with the right kinds of documents. Used properly, these documents can help a business to minimise risk and maximise profit. After all, wouldn’t you prefer to just get on with your business, rather than wasting time sorting out messes?
If you’d like to hear more about how I can help you with the right documents for your business please email or call for a free one hour introductory session.