Do you have a boilerplate? I cringe every single time I hear it. If you own a business and you intend on being successful, you should definitely not be using a “boilerplate” contract. First, there really is no such thing – there isn’t a generic contract that can be used from one business to another because every business is different and the parties involved have varying thresholds for risk. In addition, every company is unique and has different considerations that should be taken into account. While running a business, there are many different relationships you are engaged in as well and each requires thoughtful consideration to ensure you are including the appropriate terms in your contracts. In order to best protect your business, it’s important that your contracts are tailored to your specific company and the particular relationship. The next time you’re about to ask for a boilerplate contract, stop yourself and remember that it will likely not protect your business as it should, you’re doing your company a disservice and it will cost you more in the long run to clean up. I promise, you won’t regret it.
Tricia Meyer is Founder + Managing Attorney of Meyer Law, one of the fastest growing law firms in the United States. Meyer helps entrepreneurs and technology companies from startups to large corporations with day-to-day matters and notable clients include companies that have appeared on Shark Tank to companies gracing the Inc. 500 to some of the largest companies in the world.
Tricia has been named on the Forbes Next 1000 list, is one of the Most Influential Female Lawyers in Chicago according to Crain’s Chicago Business and been recognized as a top 10 technology lawyer.
As an entrepreneur and a lawyer, Meyer has a unique perspective and has mentored thousands of startups and scaling companies at tech incubators and accelerators across the United States such as 1871, WeWork Labs and Techstars. Tricia has been featured in Inc., Crain’s, Chicago Tribune, NBC Chicago, American Express OPEN Forum, and more. Learn more at www.MeetMeyerLaw.com and follow Meyer Law’s story on Instagram @loveyourlawyer.