Do you ink deals with B2B agreements?
The B2C Danger For B2B Deals
The last thing you want is for it to look like you’re using business-to-consumer (B2C) contracts. Because there are many laws and regulations that provide consumer protection.
This extra level of protection for consumers doesn’t apply to business-to-business deals. Courts assume there’s greater business savvy if the deal is between two companies.
On the flip side, consumer protection laws tilt the field in favor of the individual. And it’s easy for a business to lose if a consumer disputes contract terms.
Adding insult to injury, what if your agreement is B2C and violates consumer protection laws?
You may be liable for statutory damages, the consumer’s attorney fees, and court costs. And that’s not counting expenses from any related government investigation. Imagine the costs incurred when a state’s Attorney General or the FTC comes after you.
So you’ll want your B2B contracts to appear as such.
This is particularly true when the other party is an individual. Ideally, that individual will have a business entity (e.g. a single member LLC) as the contracting party. Or he does business as a sole proprietorship using a company name (e.g. “Jim’s Printing Co.”).
Where To Get Help With B2B Agreements
Do you need B2B agreements? Or have a contract that you want reviewed or revised? Schedule a phone consultation today with Business Lawyer Mike Young.