It is difficult for a developing company to “perfectly” draft, or approve, or sign a contract. Objectively, there might be no such thing as a “perfect contract”, since the agreement exists alongside every transaction, which is dynamically evolving, hus each and every contract should be made as per the background and status of the parties to the transaction, the purpose of the transaction, and the feasibility of the contract.
Corporate legal counsel, with extensive practical experience serving the same types of clients over years, are able to give more targeted and specific legal opinions on the risk management of the contract.
Drafting and Examination
A good contract is one that satisfies the commercial conditions of both parties and helps the company avoid risks at the same time. In general, the document is drafted by a sales person, or legal staff of the company, in the first place. When it is passed to the legal counsel, there is not much room for structural amendment, since the framework is set.
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Li Xiang and Zhou Le are associates at Tiantai Law Firm
Unit 2901&2915, T1 Building, Raffles CityNo.1133 Changning Road, Changning District, Shanghai 200051, China
Tel: +86 21 5237 7005
Fax: +86 21 5237 7006
E-mail:
lixiang@tiantailaw.com
zhoule@tiantailaw.com
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