The first and probably most important thing you can do when creating/signing a contract is going over it with your lawyer - the attorney probably knows a lot more about these kinds of things than you do. Next, you need to read the contract thoroughly - don't skip anything, because it is your life/money we are talking about here. So, read and understand the contract before deciding whether or not to sign it. Once you sign the contract, you are bound by it - there is no going back, so think carefully before signing it.
