The “Standard” Agreement

Business transactions are best documented through the use of written agreements. However, the impression is often given that the offered agreement is a standard document, and no variations can occur. Many times this is the case. However, one cannot know if that is the case in your particular instance until attempts are made to negotiate those portions of the agreement which are most objectionable or have the greatest impact upon your ability to go forward with the transaction. A party’s willingness to negotiate is generally directly related to its perceived need to enter a particular marketplace or business alliance, competitive pressures existing in the market, and its perception of its then existing business relationships. While no assurance can be given as to the success or economic rewards of any negotiation attempts, a prudent business person should keep these facts in mind as he or she reviews all offered documents.