IMO, you can call this term black and white. Everything will be documented and on paper when you've got some dealings to do.
And that's really the first thing to do when things go south and that's to seek legal counsel that will help you how to resolve these matters or how to counter that deal that went against your contract.
I've been into many business deals and fortunately, I didn't have to come up with this kind of situation.
If you know that you are dealing with good amount of money and a lot is at stake, a lawyer is indeed needed in your transactions. I can understand if you are only doing small business as you can manage it on your own. But if there are other stakeholders and they have vested interest in your business, it is better to have a lawyer that you can go to. You'll never know what will come up later on. You may need them even for consultancy services.
That's right.
You don't go into business dealings with involvement of a lot of money without having a lawyer. You are doing it in paper and as well as the black and white matter for these deals are real.
On the corporations type of deals, you have your hired lawyer or on call that you're always seeking counsel with it.
In a number of businesses that generate large amounts of money, personal lawyers are really needed, because fellow large-scale business people will of course be very careful with the applicable laws, which of course must be prepared if something happens that is not as desired so that it can be stated in the articles of the agreement. It is agreed that if this is not orderly it will usually be complicated in the future. Therefore, legal advisors are needed to anticipate future problems