Michael Ehrenstein, founding partner of Ehrenstein Charbonneau Calderin in Miami, Florida.

I am both stunned and grateful.

Stunned that so many leaders in the aerospace industry omit even the simplest protections available in commercial documentation of transactions; and grateful because the lack of them often yields disputes that must be litigated and, therefore, require my engagement as a trial lawyer.

To be clear, most aerospace companies know their business well. They know how to negotiate and document business terms, such as the price, quantity, quality and time for delivery of goods and the manner in which the goods are delivered. These same companies, however, often fail to include powerful and basic terms governing legal issues that frequently arise in such transactions.

In 27 years of practice as an attorney, I have litigated all manner of aerospace disputes and have garnered millions of dollars in attorney's fees fighting in court over matters that could have been avoided by the inclusion of simple language.

In the hope that you might avoid such unfortunate and unnecessary expenses, here is a short list of uncomplicated but critical terms you mightwant to consider in the documentation of such transactions.

Benjamin Franklin once famously said that an ounce of prevention is worth a pound of cure. That statement applies to aerospace transactions.

Michael Ehrenstein is a founding partner of Ehrenstein Charbonneau Calderin in Miami, Florida.

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8 Terms Aerospace Transactions Should Include - Aviation Today