{"id":142,"date":"2019-05-14T10:17:19","date_gmt":"2019-05-14T04:47:19","guid":{"rendered":"https:\/\/aktassociates.com\/blog\/?p=142"},"modified":"2019-08-26T13:15:27","modified_gmt":"2019-08-26T07:45:27","slug":"drafting-of-legal-contracts","status":"publish","type":"post","link":"https:\/\/aktassociates.com\/blog\/drafting-of-legal-contracts\/","title":{"rendered":"Drafting of Legal Contracts"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Business relations prone to be complicated keep them straight by writing them down.<\/span><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_66_1 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >In this article, we will discuss about...<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #1e73be;color:#1e73be\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #1e73be;color:#1e73be\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/aktassociates.com\/blog\/drafting-of-legal-contracts\/#What_is_Contract\" title=\"What is Contract?\">What is Contract?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/aktassociates.com\/blog\/drafting-of-legal-contracts\/#What_is_contract_drafting\" title=\"What is contract drafting?\">What is contract drafting?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/aktassociates.com\/blog\/drafting-of-legal-contracts\/#Forms_of_Contract_also_include\" title=\"Forms of Contract also include:\">Forms of Contract also include:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/aktassociates.com\/blog\/drafting-of-legal-contracts\/#Points_to_be_included_in_a_contract\" title=\"Points to be included in a contract:\">Points to be included in a contract:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/aktassociates.com\/blog\/drafting-of-legal-contracts\/#Legal_Contract_Review\" title=\"Legal Contract Review:\">Legal Contract Review:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/aktassociates.com\/blog\/drafting-of-legal-contracts\/#Contract_Review_Services\" title=\"Contract Review Services:\u00a0\">Contract Review Services:\u00a0<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_is_Contract\"><\/span><b>What is Contract?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">In the present competitive scenario, when everyone is craving for success and trying to be better than the other. No matter how well you know the person you are dealing with, it is suggested to get the deals in writing. Here the contract comes into the picture.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-540 aligncenter\" src=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/06\/Drafting-of-Legal-Contracts.jpg\" alt=\"Drafting of Legal Contracts\" width=\"700\" height=\"400\" srcset=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/06\/Drafting-of-Legal-Contracts.jpg 700w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/06\/Drafting-of-Legal-Contracts-300x171.jpg 300w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/06\/Drafting-of-Legal-Contracts-20x11.jpg 20w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">We often hear that the other party is a friend or trusted business person or a \u201creal nice guy\u201d and mostly the things run smoothly. In other cases, it takes just one misunderstanding to cause financial, time and emotional stress in the relation. Oral contracts are also enforceable but they often come with gray room and confusion about who said what and written contracts have more persuasive value. Even performance can create a contract. But a large number of litigation cases arise because of misunderstanding and mostly amongst families and friends. A written contract makes the parties more serious about their actions.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_is_contract_drafting\"><\/span><strong>What is contract drafting?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The\u00a0contract\u00a0is an agreement in writing with a lawful object in which two or more parties enter willingly with free consent. It legally binds the parties to fulfill the terms and conditions of the contract. A\u00a0contract\u00a0clearly defines the obligations and rights of each party in every expected situation which might arise during the course of a contractual relationship. If a dispute is taken to court the process is extremely lengthy and time-consuming. It is also very expensive, but if you initially invest a little time in getting into a written contract it will help you in saving time and money in the long run.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Forms_of_Contract_also_include\"><\/span><b>Forms of Contract also include:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/aktassociates.com\/blog\/non-disclosure-agreement\/\"><span style=\"font-weight: 400;\">Non Disclosure Agreement<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Employment contract<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Service level agreement<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">End-User Agreement<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Development Agreement<\/span><\/li>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/aktassociates.com\/blog\/joint-venture-agreement-nature-draft\/\"><span style=\"font-weight: 400;\">Joint Venture Agreement<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Service Level Agreement<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Points_to_be_included_in_a_contract\"><\/span><b>Points to be included in a contract:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Defining the terms used in the contract;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Administrative provisions;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Financial provisions;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Provisions that allocate risk;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The statement of work;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Provisions relating to the dispute resolution;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The provision in case of termination;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Provisions on poaching;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">A provision on conflict of interest;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Provisions that relate to rights and ownership of work product and Intellectual property.<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Legal_Contract_Review\"><\/span><b>Legal Contract Review:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">We make special efforts during the whole lifetime of contract which starts form drafting, reviewing and support to management. We have an expert team of attorneys who have gained the trust of clients at international platform also.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Contract_Review_Services\"><\/span><b>Contract Review Services:<\/b><b>\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Contract review is the process of analyzing the clauses of contract with systematic explanation in detail.it is carried out to ensure that the condition which has been specified in the contract works in your best interests. It may be possible the original document may have contained a clause which is unfavorable or unnecessary.<\/span><\/p>\n<p><strong>Our special team review the voluminous contracts catering to different industry verticals such as:-<\/strong><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Technology<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Telecom<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Shipping and Logistics<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Insurance<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Banking<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Real Estate<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Healthcare<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Financial Services<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Restaurant<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Business relations prone to be complicated keep them straight by writing them down. What is Contract? In the present competitive &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Drafting of Legal Contracts\" class=\"read-more button\" href=\"https:\/\/aktassociates.com\/blog\/drafting-of-legal-contracts\/#more-142\">Read more<span class=\"screen-reader-text\">Drafting of Legal Contracts<\/span><\/a><\/p>\n","protected":false},"author":4,"featured_media":324,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Drafting of Legal Contracts: Documents Needed, Example | AKT Associates<\/title>\n<meta name=\"description\" content=\"Get to know what is an important contract you should prepare before starting a new business and \u00a0what are the important factors to keep in mind while drafting contract\" \/>\n<meta name=\"robots\" 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