How to Make a Corporate Account Agreement Work for You

A lawyer is an effective investment when negotiating an agreement.

If you are a business owner or consumer you will need to sign a corporate account agreement at some point. For example, business owners may need to sign a corporate account agreement for a merchant account, a credit card or a contract to have a service performed for their company. Ensuring the agreement works for you requires effective negotiation on your part and the other parties offering the service or product. Naturally, the other party would like to have the agreement work for them as well.

Instructions

1. Write down your intended outcome for the agreement before contracts or other agreements are drafted. If you already have an idea of what you're looking for, make sure to mention it before the agreement is official.

2. Hire an attorney to look over your corporate account agreement before signing or agreeing to any clauses. Lawyers are versed in contract terminology and can point out areas where you may be compromising something that is important to you.

3. Request to make the agreement amendable. Some companies may offer you an agreement that cannot be changed under any circumstances. It is better to know this information ahead of time instead of wasting your time with terms that cannot be changed.

4. Request the most beneficial, perfect conditions you want because during negotiations you will have to compromise on some of those conditions. By aiming high at the start of the negotiation process, you will be more satisfied when you settle on the middle ground.

5. Make sure exit clauses are listed in the agreement. If you enter a long-term agreement with a corporation and you realize after a short amount of time that the relationship is not working, you may not be able to end the relationship due to the agreement. Create clauses in the document that allow you to exit if necessary. For example, in Los Angeles, many theatrical agents offer actors a 30-day to 6-month preliminary agreement so each party has time to evaluate the other to determine if the relationship is worth extending for a longer period of time.

References

• Googobits: How to negotiate contracts