Just as their name indicates, commercial lawyers deal with business legal matters. From the process of registration to the basic legal paperwork, every business needs a commercial lawyer to call.
Commercial lawyers are experts in not only business transactions but also legal disputes, mergers, acquisitions, employee agreements, and more. Some of these legal experts work with firms, but many are independent contractors hired by businesses to handle all of their legal needs. Every commercial lawyer has completed a law degree at an accredited institution and has successfully passed the bar exam. Only then can they be considered legal professionals and have all the right and duties of one.
Many commercial lawyers spend the bulk of their time writing up and negotiating legal documents for businesses. They write up the many contracts that a business requires whether between business and client, employer and employee, business and supplier, and much more. They sometimes appear in court to represent an organization. When it comes to business law, it is usually best to keep the client out of a courtroom. Commercial attorneys use negotiation techniques and other ways to allow their clients to never need to appear in the presence of a judge. Although business lawyers handle quite a few responsibilities, not all of them are paid well. Some only make an average of $100,000 annually.
The Responsibilities of a Commercial Attorney
Since commercial attorneys are responsible for matters pertaining to business, they often aid with business transactions and ensuring companies are complying with the law. Most of their time is spent drafting and negotiating agreements, be they nondisclosure agreements, changes in contracts, and making sure every legal document the business signs is foolproof. Legal documents can completely change a situation, particularly where other parties are concerned.
Besides managing all the legal documents that a business has to deal with, commercial lawyers also file motions in court and help businesses seek justice when someone else has wronged them. In some cases, this means pursuing an individual. Most of the time, however, it means filing a claim against another business or company that has damaged the finances or even the reputation of the company that the lawyer represents. Sometimes the business seeks financial compensation. In other cases, it is a cease and desist that they are after. Ultimately, commercial lawyers work for the good of the company that they represent.
Commercial lawyers also spend considerable amounts of time looking into law-related matters that may affect the businesses they represent. Laws and requirements are always changing and it’s important to stay up-to-date. Businesses are required to follow the letter of the law. This means they have to know what it is, to begin with. Commercial lawyers do not only do damage control but prevent legal situations before they become big issues. This may mean ensuring that contracts are foolproof and ensuring that every business registration requirement is met.
There are also times when commercial lawyers are called upon to aid with the merging of a business, dissolving of one, the launch of a new project, a negotiation of some sort, or even to help change the structure of the company. This means that the commercial lawyer has to come in contact with all sorts of people: clients, government officials, and even other lawyers. This is particularly true in matters of negotiation. These professionals can also help you if your business is approaching bankruptcy in order to minimize the damage done.
What are you waiting for?
Every business needs a commercial lawyer to have on speed dial. This ensures that they are always complying with the law and operating in a manner that is as safe for the business as possible. Not only do these legal professionals minimize damage but they help you avoid legal issues in the first place. Be smart. If you’re a business owner, look for a commercial lawyer today!