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If the transaction is for a large amount, the cost of an attorney to draft a document is relatively small compared to the cost of losing money in the transaction. However, if you have basic needs, such as requiring standard employment contracts, it obviously makes no sense to spend hundreds (possibly thousands) of dollars hiring an attorney to draft the contracts.

The standard form is immediately recognized by all parties in a transaction and the county clerks,” said Daniel Price, president and CEO of OneTitle National Guaranty Company, who deals with real-estate transactions using powers of attorney frequently. “If you presented them with anything other than the standard form…there is no guarantee that the clerk would accept and record it.

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When it comes to being an entrepreneur, there is simply no way around legal paperwork. After all, it constitutes the very framework of your business, minimizes risk and helps protect your interests. So how do you go about drafting and managing employment agreements, partnership agreements, employee handbooks and independent contractor agreements, just to name a few?

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