The law firm's highest value use is typically in preparing and negotiating commercial contracts, i.e., the company's agreements to sell (or buy) its products or services.
A breach of contract occurs when a contracting party fails to fulfil its obligations under the agreement. Typically, the other party to the contract can sue for damages or specific performance (a court order to satisfy the contractual obligation). On the other hand, contracting parties may avoid costly, time-consuming litigation by specifying that they will instead use alternative dispute resolution (typically meeting with a predetermined arbitrator).
One of the primary reasons for entering into a contract is to reduce the impact of future disagreements. The more aligned and thorough the parties are when drafting the contract in the first place, the more likely it is that they will avoid acrimonious legal battles later on.