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Finance and Contract Law Anyone?

07/17/2010 12:51 AM

Greetings All,

I know this is an engineering site, but you guys bump into finance people and I would like your opinions. Some of you know me and my 1.3Mw solar farm project, its going well enough that I've got these sales guys who say they have angel investors and the financing to finish my project. I trust them as much as I trust any salesman, but they do have an interest in making the project happen cause they are selling us the PV panels and inverters, the problem is the finders fee contract they provided is so poorly written I won't sign it. I know enough about bus. to read a good contract, but I would like to find someone that is already a specialist at these contacts, a VC, an investment banker, a lawyer. I can find them in the phone book, but I trust the opinions of the people on this site and if anyone knows of a specialist and can point me in the right direction I would be grateful.

Spacecannon

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#1

Re: Finance and Contract Law Anyone?

07/17/2010 12:16 PM

I don't know how much help this is, but, you definitely need a lawyer. I would go online and look for ratings for lawyers in your area. Meet with them face to face. Check with state bar association for complaints before hiring anyone. Ask for references, lawyers that do a good job will be more than happy to provide you with contact info for happy clients. If these people are so eager to help you, a good lawyer will be able to tell you if the contract is good, another possibility, since this is your product, is to have a lawyer draw up a contract for you. This will put you in the drivers seat and the contract will be drawn up on your terms. If your product is a good one, there will be no shortage of,"honest" people that are willing to sign on and help you move it forward. These angel investors could very well be legitimate. Get references from them also, i.e.- I appreciate your interest in my product, do you mind if I speak to some other companies/people that you have helped?

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#2

Re: Finance and Contract Law Anyone?

07/17/2010 11:35 PM

Call you local bar association and explain your circumstances. They will give you at least three names of practitioners who are very well accustomed to the level of services that you need. Meet with each of them and explain your needs / wants. (that will not cost you anything) Then select the one you are most comfortable with for you required results- it does not need to be the one you like the best but it DOES NEED to be the one you believe will represent you interests the most effectively.

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#3

Re: Finance and Contract Law Anyone?

07/18/2010 10:03 AM

Every contract that I have reviewed has been written to favor the creator of the document. There will nearly always be ambiguous language in it somewhere. IE: words have multiple meanings and statements can readily be created so as to lead one's thought process in a planed direction. I can readily make assorted statements intended to lead you into believing that I am saying what you are wanting to hear and actually saying just the opposite by using these multiple meaning words. The process is to get for me what I want out of the contract. Generally these very generalized statements have no other purpose but to tell you what you want to hear, will not be specific, and are my way of defending in a legal proceeding. Courts cannot create contract language that does not exist, however the more language that you place into such a document, the greater opportunity the court will have in determining the "INTENT" of the contract. I suggest that you remember always that the creator of a contract is responsible for it's content. If you go over board with the deception it can become the dog that bites you. Generally what will happen with contractual disputes, is the party that realizes that they are in the weakest position will offer to settle the dispute, "OUT OF COURT" and this means that you get to pay your Attorney, and expenses, and the other side pays their Attorney. Both sides lose, something and the only winners are the "dambed Lawyers". If you are foolish enough to consider arbitration to resolve, you will be sharing the cost of the arbitrator in addition to your other legal fees. If you are uncomfortable with the language in these documents, you had better find a really good Contract Lawyer. Do not agree to paying retainer fees. Simply pay for the service on a, "I only need you one time basis", "I ani't marrying your ass attitude."

TMF

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#4

Re: Finance and Contract Law Anyone?

07/18/2010 11:53 AM

Once you do get a contract be sure it contains a clause like:

"This contract supersedes any and all previous understandings and /or agreements between or amongst the undersigned parties or their representatives."

I've seen this clause left out unintentionally (or not) by the attorney.

Not a lawyer,

corelite

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#5

Re: Finance and Contract Law Anyone?

07/18/2010 2:26 PM

I think I can point you in the right direction - look up - you seem to be searching for a honest lawyer. They are easy to find, it only takes a miracle....

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#6

Re: Finance and Contract Law Anyone?

07/18/2010 3:28 PM

I've got a very qualified contract Attorney contact me at gary.t@okkorgroup.com and I'll give his #. Brad has done a lot of projects for me and he is located in So. Ca.

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#7

Re: Finance and Contract Law Anyone?

07/18/2010 7:39 PM

Greetings All,

thx for the advice, and I have to admit I've heard it all before and been there done that and references from organizations that they belong to dont work, cause they tend to recomend all their members.

The best advice I can give myself is get a reference from someone your familiar with and can trust... Im familiar with a lot of the people here and find their opinions and references valuable.

GAs to everyone anyway.

Thanks

Spacecannon

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