When a client contacts me to draft a custom contract for them, so much time, research, and expertise goes into drafting each agreement. Many hours are spent tailoring and fine-tuning the agreement to meet the client’s specific needs.
In comparison, attorney drafted contract templates are still industry-specific but are pre-written to allow you to easily customize yourself. All you would have to do is fill in your basic information (i.e. your name, opposite party’s name, and specific pricing information) in pre-highlighted fields that are laid out for you. The industry-specific provisions and liability clauses have been pre-drafted for you in advance. Contract templates also provide entrepreneurs with a more cost-effective option, while still getting a semi-custom and industry-specific agreement. Most attorneys charge anywhere between $200-350 per hour to draft a custom agreement.
Of course, it’s important to purchase a contract template from an attorney and not Google one. If you are not a licensed attorney, you should not draft your own agreement and should not rely on agreements that you find on Google. This is only setting yourself up for trouble and putting the business that you’ve worked so hard to build at risk. I’m always amazed when I hear of non-lawyers drafting their own contracts.
The bottom line is if you have the financial ability to hire an attorney to draft a custom contract for you, then, by all means, do so. However, if you are like most entrepreneurs looking to get a high-quality contract at a fraction of the cost, then consider purchasing an attorney-drafted contract template. It will save you so much time, effort, worry, and money.