Contracting with Vendors and Suppliers 101
Every business organization enters contracts. Start-ups in particular often need to contract with vendors or suppliers in order to commence and continue business operations. However, the unwary may fall prey to unfavorable contract terms that could be problematic, at best, debilitating, at worst, if not identified and negotiated away prior to entering the contract. This presentation will focus on various basic contract terms that start-ups should be familiar with, as well as some pitfalls to avoid when negotiating and agreeing to a contract with a vendor or supplier.
Vincent J. Magyar, Jr. is counsel in the Yardley, PA office of Hill Wallack LLP. He is licensed to practice law in Pennsylvania and New Jersey and has been in practice since 2005. He is a member of the firm’s corporate, business, financial services, public finance and municipal practice groups. Mr. Magyar regularly consults for profit and not-for-profit business organizations in a variety of corporate and commercial matters, including, but not limited to, business formation and structuring, mergers and acquisitions, dissolutions, asset sales, shareholder/member/partner agreements, commercial agreements, including vendor and software agreements, debt and equity financings and general advisory. Prior to his legal career, Mr. Magyar served as an experienced consultant with an international business consulting firm, focusing on business process improvement and software implementations.