A contract attorney is a lawyer who specializes in business transactions. The three major components to this type of law practice are negotiation, drafting and litigation. Negotiation is a skill and an art that not all lawyers possess. Those who do can provide an invaluable service to clients involved in business dealings with large amounts of money at stake. Drafting agreements is something virtually every contract attorney is experienced with. The rights, responsibilities, duties and promises in an agreement must be clearly spelled-out and understood by all the parties. Litigation is another special skill that not every business lawyer has. However, when arrangements do not go as planned and breaches occur, litigation lawyers play an important role.