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Attorney ProfileAnnapolis Contract Attorneys
"We felt stuck and unsure of what to do next. From the very beginning, Fox & Moghul made us feel heard, supported, and protected. Their communication was clear, their guidance was thoughtful, and it was obvious they genuinely cared about us as people not just the case."
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Lawyers Assisting With Different Types of Business Contracts in Annapolis, MD
From the maritime companies that operate in Annapolis to the consulting firms that work with the state government, businesses run on agreements that are made in writing. Each contract a company signs may involve risks. A single overlooked clause can leave an owner personally exposed, lock a company into an unfavorable lease, or make it hard to collect money that is rightfully owed.
The lawyers at Fox & Moghul work with Annapolis business owners at every stage of their lifecycles, from launching a new venture to managing a growing operation. We can draft agreements tailored to the goals of a specific business, explain the obligations that apply to clients, and assist with enforcing their rights if the other side does not meet its obligations. Our clients count on us for steady guidance, sound judgment, and representation that will prioritize their long-term success.
The Background Our Clients Rely On
Our attorneys have been honored with numerous awards that recognize our legal ability and professional conduct. We have achieved favorable outcomes for clients in a wide variety of contested business lawsuits, giving us an understanding of how contracts are interpreted when conflicts are resolved in court. In addition, members of our team regularly teach seminars for other lawyers on contracts and other business law topics. Clients can benefit from our reputation, knowledge, and experience.
Agreements to Put in Place When Starting a Business
Decisions made at the start can affect a company's ongoing operations and determine whether it will be able to survive a disagreement among its owners. Our lawyers can assist with establishing effective agreements during the business formation process, including:
Founders Agreements
When two or more people launch a company together, a founders agreement can record who contributed cash, property, or ideas, how ownership will be divided, and what each person is expected to do. It can also include vesting schedules, so a founder who leaves after a few months will not walk away with a large ownership share. Intellectual property created for the company can be assigned to the business in this agreement rather than being left with the person who created it.
Partnership Agreements
Without a written agreement, a Maryland general partnership will follow certain default rules as detailed in the Maryland Revised Uniform Partnership Act (Md. Code, Corporations and Associations § 9A-101 et seq.). Profits may be divided equally, regardless of who invested more. A partnership agreement will allow partners to set their own rules for profit sharing, decision-making, and buyouts.
LLC Operating Agreements
Limited liability companies are among the most popular business structures in Maryland. An LLC operating agreement allows members to shape most aspects of a company. A strong operating agreement will address management authority, voting rights, capital contributions, distributions, and what happens when a member dies, divorces, or wants to sell. This can also establish an LLC as a separate entity, which will provide the liability protections owners expect.
Excellence Always
Vendor and Supplier Contracts That Protect a Company
As our attorneys work with businesses to put contracts in place related to the purchase of goods and services, we will make sure the right provisions are included to guard against supply problems and unexpected costs. These may include:
- Specifications and Delivery Dates: Clear standards can provide a measurable benchmark if goods arrive late or do not meet quality requirements.
- Warranties: Maryland's commercial code allows sellers to limit or disclaim certain implied warranties if the language is written correctly, so these terms deserve close attention.
- Price Adjustments: These clauses can control how much a supplier may raise costs during the term of a contract.
- Inspection and Rejection Rights: These may allow a business to refuse nonconforming goods.
- Force Majeure: This provision will define which events, such as storms or shipping shutdowns, may excuse performance by a party.
- Insurance and Indemnity: These terms can require a vendor to cover losses caused by their own mistakes.
Contracts With the People Who Work for a Business
Employment Agreements
An employment agreement may cover compensation, job duties, bonuses, and grounds for termination. It should comply with the Maryland Wage Payment and Collection Law (Md. Code, Labor and Employment § 3-501 et seq.), which controls how and when wages must be paid. Restrictive covenants, such as non-solicitation or non-compete clauses, must be reasonable in scope and comply with state limits on which workers may be bound by them.
Severance Agreements
A severance agreement typically offers payment in exchange for a release of claims against a company. These agreements may need to use specific terms to ensure that they will be valid, including time to consider the offer. Our lawyers can make sure these agreements are enforceable and that they will protect a company against potential claims.
Independent Contractor Agreements
Calling someone a contractor does not make them one. Strict tests may be followed when determining whether a worker is truly independent or whether they should be classified as an employee. A well-written contractor agreement can reduce the risks of penalties for worker misclassification.
Other Business Contracts Our Team Handles
Our attorneys can prepare and review many other types of agreements, including:
- Licensing Agreements: These allow one party to use another's trademark, software, or technology. They should define the scope of permitted use, royalties, territory, and protection of trade secrets.
- Commercial Leases: Retail and office leases in downtown Annapolis can involve rent escalations, shared maintenance costs, build-out obligations, and personal guarantees. Negotiating these terms before signing can save significant money over the life of a lease.
- Purchase and Sale Agreements: Buying or selling a business requires clear terms on price, assets, liabilities, and representations made by each side.
- Non-Disclosure Agreements: These contracts can protect confidential information shared during negotiations or partnerships.
Business Contract FAQs
While an operating agreement may not be required for a business with one owner, a single-member operating agreement can help to show that the LLC is separate from its owner. It can also detail how other members may be added to the LLC or what may happen if the owner becomes unable to manage the business.
Yes, if both parties agree. Amendments should be in writing and signed, and the contract itself may specify how changes must be made. Our lawyers can review a business's contracts, identify terms that may need to be updated, and work to negotiate amendments or other changes.
It is important to review the notice and cure requirements in a contract before taking action to address a breach of contract. Ending an agreement without following the proper procedures could lead to a separate breach of contract claim. Our team can help clients determine how to respond in these situations.
Contact Our Annapolis, Maryland Business Contract Lawyers
The right contracts can help a company build a solid foundation for success, work smoothly with vendors and employees, and avoid potential disputes that could drain time and money. At Fox & Moghul, we provide business owners with thoughtful guidance backed by proven results as we help address issues related to contracts. Contact our Annapolis, MD contract law attorneys at 301-409-5316 today to arrange a consultation with our team.
