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Contracts are a daily part of a business owner’s life. Done correctly, a contract can benefit all parties. Done wrong and there will be trouble.

When economic times were good, many owners ignored contractual formalities and some even abandoned written agreements altogether. During the days of abundant profits, “handshake deals” became the norm.

In the current market, however, proliferating disputes and costly litigation have laid bare the perils of doing business without a well-drafted contract. So, how can companies best protect their interests through the contract negotiation and preparation process?

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