Contract Review & Negotiation
Review and negotiate contracts for businesses and individuals providing practical guidance on terms, risks, and negotiation strategies
Overview
Contract review services help businesses and individuals understand contracts and negotiate better terms - employment agreements, vendor contracts, leases, client agreements, and business contracts.
You review contracts, explain terms and risks, suggest modifications, and provide negotiation guidance.
This requires legal knowledge but structured to avoid practicing law.
Services range from $200-$2,000 per contract review depending on complexity.
Reviewing 20-50 contracts monthly generates $60,000-$180,000 annually with 75-90% margins.
Target clients include small businesses signing vendor contracts, individuals with employment offers, freelancers and consultants, startups negotiating deals, and anyone needing contract guidance.
Services include contract review and analysis, plain-language explanations, risk identification, suggested modifications, negotiation strategy guidance, and contract templates.
Success requires contract law knowledge, understanding of business contracts and terms, ability to explain legalese in plain English, maintaining line between guidance and legal advice, and building trust with business clients.
Many contract reviewers are attorneys offering unbundled services, former lawyers providing review without legal advice, business professionals with contract expertise, potentially offer contract templates and resources, and operate through online platforms or direct to businesses.
Required Skills
- Contract Law
- Business Contracts
- Risk Analysis
- Communication
- Negotiation
Pros and Cons
Pros
- Help businesses make better contract decisions
- Project-based fees for reviews
- Growing demand as contracts get complex
- Can work remotely reviewing documents
- Valuable practical service
Cons
- Must avoid unauthorized practice of law
- Liability for bad advice
- Complex contracts time-intensive
- Need extensive contract knowledge
- Explaining without providing legal advice difficult
How to Get Started
- Gain contract law and business contract knowledge
- Understand scope allowed without law license
- Develop contract review frameworks
- Create service offerings and pricing
- Market to small businesses and individuals
- Consider professional liability insurance
- Build contract template library
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