Agreements 101

The negotiation process typically consists of five stages: preparation, opening, clarifying goals, bargaining, and agreement (or lack thereof).

A clause library is a collection of organized and categorized pre-approved clauses for inclusion in agreements such as contracts. Keeping a clause library allows you to quickly access and insert relevant clauses into new contracts and documents whenever needed, without the need to rewrite the clause completely.

Vendor contracts outline the key terms covering the exchange of goods or services in return for compensation. Explore the different types of vendor contracts, when to use them, what to look for when drafting or reviewing a vendor agreement, and what they mean for your business.

This guide covers contract redlining, how to redline a document, and some best practices to follow the next time you draft a redlined contract.

A franchise agreement is the legal contract governing an agreement between the owner of a franchise and the party they allow to operate one or more of their franchised operations.

A letter of intent (or LOI) is a document that declares one party’s preliminary commitment to agree to do business with another. The letter outlines the terms of the agreement, such as key points that need to be negotiated and steps both parties agree to take before, during, and after the transaction.