Contracts have always formed a critical part of business, and therefore of commercial litigation. In this era of commercialisation, all businesses need and intend to enter into perfect contracts, ones that are clear enough to be easily understood by a person of ordinary prudence and at the same time detailed enough so that it cannot be willfully misinterpreted. However, it requires a lot of time to draft a legally sound and detailed contract so as to incorporate the stipulations of the parties, in order to meet the object of such contract with precaution and to minimize the legal and business risk resulting from the inconsistent language. Time and resources spent during the careful drafting of Contracts / Agreements can save Corporations and Businesses from several legal issues.
The team at Khurana and Khurana is well aware of the issues that crop up during commercial relationships, and we therefore put in all of our experience and invest a lot of time and resources during the drafting stage to ensure that the business interests of our clients and typically those of all contracting parties are protected from all angles and at all stages of contract execution: pre-drafting, signing and till the contract is fully executed. Our team ensures that clauses incorporated in the Contracts/Agreements drafted are sufficiently rigid to guard against subsequent misinterpretation and still have flexibility to allow other party/parties to incorporate their requirements.
Our team ensures that the drafted Contracts/ Agreements contain suitably worded clauses about Jurisdiction & Applicable Law, Commercial Terms, Termination Clauses, IP Ownership, Confidentiality, Technology Transfer, Turnkey Transactions, Distributorship, Force Majeure, Trademark protection, Escrow etc. wherever relevant, and therefore are complete in all respects.
Contracts between business partners, such as Purchase and Sale agreements or Joint Venture agreements, often involve future consideration, contingent on events that will occur after the contract comes in force. These contracts are usually focused on the legal issues involved in the transaction and not on the financial and accounting aspects of how the future compensation will be calculated. That is not to say the formula is not stipulated in the agreement, but rather that the formulae are often complex and the terminology used is ambiguous. Our Commercial Law team, comprises of legal experts from diverse academic backgrounds like Finance, Accounting, Science & Technology among others, and are fully equipped with the skill-set to carefully review an imperfect contract and present to you a thoroughly examined version consistent with both, your business needs and the governing law and policy.