What Can A Business Lawyer Do For A Company?

Business or commercial law deals with aspects of commerce including trade, sale, rights, conduct and merchandising. The experts proficient in the law are called business lawyers and if you’ve set up a company that intends to cater to a large populace or deal with clients from out of state, hiring a business lawyer should top the list of to-dos.

Business lawyers cater to different areas of business. They may be tasked to handle most legal affairs or concern themselves with rights and conduct. It depends on you and how much you’re willing to share responsibility. What’s important is finding a good lawyer, one who’s been practicing for many years.

All businesses irrespective of size have use for at least a couple of services provided by business lawyers. Unless the management is itself made up of these professionals, having at least one as part of the core team is essential. Let’s take a look at how exactly you stand to benefit by hiring a good lawyer.

Understanding of rights and responsibilities simplified

Commerce and trade need to be conducted according to certain rules and laws. It’s a vast field like all areas of law and difficult to comprehend for a layman. What a business lawyer will do is explain the responsibilities and rights you, as the business owner, have and can exert with respect to the company, clients and customers. This gives you the knowledge of what can and can’t be done and prevents the company from being dealt with lawsuits and other undesirables.

Drawing contracts

Even if you’re running a small business that deals only with cell phones, for example, you’ll have to find vendors, negotiate, seek necessary permits, meet state guidelines and a whole lot of official to-dos. A business lawyer can show you the way and help draw up contracts that protect you, your associates, employees and the business.

Help with initial public offerings

When your business picks up speed and you’re confident that the road ahead will bring in profit you might decide to go public with an IPO. The process can be time-consuming in that there will be changes to the organization of the company. With a business lawyer, you’ll be able to see the process go smoothly and concentrate on immediate areas that need your time.

Help with disputes

There will always be disputes in a company no matter how well organized it is. If the time comes when you’re facing a lawsuit and you don’t have a good lawyer in tow you could see huge losses in attorney fees, settlements and other expenses. By hiring a lawyer at the outset to complete your core management team, dealing with disputes becomes easier and you’re less likely to lose out.

Not all business lawyers have the complete set of skills needed to help run a business smoothly. The larger your company, the more lawyers you’ll naturally need. Still, if you can find people skilled in various areas, you’ll have fewer professionals to deal with.

The lawyer or lawyers you hire should have practiced in areas relating to real estate, taxes and licenses, contracts, intellectual property rights and business organization. Hiring a lawyer who engages in drawing up wills, for example, is pointless as the field isn’t related to business. So, spend good money on good business lawyers whose priority is the protection of your business and your interests.

Corporate and Commercial Lawyer and Law Practice Areas

Other than the work responsibilities, the business including corporate and commercial sectors deal with different complex agreements, arrangements, contracts etc. Guidance is a must for a smooth and profitable running of business and legal services. This is the place where a professional corporate and commercial lawyers play a crucial role.

Leading law firms that come with experienced corporate and commercial lawyers are known to serve different participants of the business world, like the entrepreneurs, enterprises, businessmen, corporations, business organizations and various companies. The experts deal with different matters of their clients by taking into accounts the intense competitive business practices and trends.

Through this article, we will come to know more about the corporate and commercial law practices and lawyers in detail. Please go through the points discussed below.

Corporate Compliance

Every national or international business is required to follow some strict regulatory rules and regulations. A breach of such rules can result in corporate probation or may be any kind of ignominious legal actions. Professional corporate lawyers believe that these rules and regulations are essential to follow for maintaining the profitability, goodwill and popularity of any company or corporation. This is why they serve clients with corporate compliance legal services to different sectors of the economy.

Law Practice Areas

If we talk about the law practice areas, the experienced lawyers working in a law firm offer legal assistance for different commercial issues, like advices for the formation of any company, services for varied commercial and corporate contracts etc.

More about the law practices; the attorneys also serve individuals looking for legal assistance related to intellectual property matters, capital market, insurance matters, public relations, industrial relations, human resource management etc.

Research Aspects of Corporate Law

Like a personal injury lawyer and other kinds of professional attorneys, a corporate lawyer also opt for researching different aspects of law including accounting, securities law, bankruptcy, tax law, intellectual property rights and other regulations concerning business specifics. The lawyers always keep one thing in mind that a transaction is not conflicted with different kinds of law including federal, local or state laws.

Team Oriented

As compared to other kinds of trial law, the corporate law is found as team-oriented. Rather than behaving as strict competitors in the court, they work on common goals that can help clients of both. They make use of their incisive mind and skills to make things clear between the parties, both in terms of written and oral form of communication.

Thus, from the above discussions, it can be said that corporate and commercial law practice areas and lawyers come with different aspects as compared to other trial laws and lawyers.

How to Find a Commercial Law Attorney for Your Business

Good management is essential to keeping any business afloat. So is good legal advice. One person who can help you manage your company’s legal affairs is an experienced commercial law attorney. Commercial law is the term used to refer to the various statutes, regulations, and other legal requirements involved in forming, operating, and dissolving a business. Businesses are considered legal entities that must abide by various laws, including contract laws, environmental laws, employment laws, intellectual property laws, and laws governing commercial transactions, among others. Commercial law is extremely diverse and complex. To ensure that your company is complicit with the various laws affecting your business, you should consult an experienced commercial litigation attorney before start-up.

There are many lawyers to choose from, so it is best to do research to find the right person for the job. One good source of advice is other entrepreneurs who have built successful businesses. They can often refer you to commercial lawyers who helped them achieve their goals. You can also talk to other people who have experience working with lawyers. When you find a lawyer who you believe is a good fit, you should meet with him. Talk to him, ask questions. The following are important criteria to consider when choosing a lawyer for your business:

  • The lawyer you choose should have experience and expertise in commercial law. He should be able to guide you in choosing what kind of business entity to establish. He should also have experience with taxation. He should be able to create a variety of business contracts for use in all of your business dealings.
  • The lawyer should be able to defend you and the business should contract disputes arise.
  • A business lawyer should be up to date with changes to business laws and be able to give you sound advice.

A commercial law attorney can help your business in a variety of legal matters, including taxation, employment contracts, intellectual property protection and compliance with various environmental and consumer protection laws at both the state and federal level. In addition, the attorney can represent your business interests in a variety of transactions, including real estate transactions, contract disputes, product liability lawsuits, and much, much more.

To keep a business running, it takes a combination of the right people, the right ideas, and good decisions. When you choose a knowledgeable commercial attorney, you can be sure that the legal side of your business is in good hands. The Corpus Christi commercial litigation attorneys at Snapka Law Firm have the experience and resources to successfully represent your company’s interests throughout the course of your business.

Hiring A Bankruptcy Attorney To File Under Illinois Bankruptcy Laws

Filing liquidation under the Illinois bankruptcy laws is not an easy thing to do in a sense that you need to be aware of the complicated set of specific laws related to impoverishment that is applicable only in the state. This is because of the complications involved in the various bankruptcy laws in Illinois that we always suggest debtors to hire a highly qualified and experienced attorney to handle your liquidation case. When it comes to filing bankruptcy under the state laws, there are several things that you need to take into your careful consideration.

License Of The Bankruptcy Attorney

The first thing that you have to make sure is that the attorney has a valid license to handle impoverishment cases in the state. Some people have the misconception that all the bankruptcy lawyers are authorized to handle cases in all the states, which is not true. The attorney gets the license to handle such cases in a specific state only. In some places, where the boundaries of the states meet, the attorney may get the license to handle liquidation cases in more than one state. So, it is prudent to check all these things before hiring the attorney.

Attorney Fee

The bankruptcy attorney will charge you a fee, which is usually a substantial amount. Therefore, while choosing the right attorney to file insolvency on your behalf under the state laws, the first of the few things that you must ask the attorney is the amount they will charge. You must try to get into the details because sometimes, there are hidden charges that you come to know only when it is too late.

Interview The Attorney

You are planning to hire a liquidation attorney because you want someone that could defend your claim successfully in the courts. Therefore, do not hesitate in asking questions. It is important to ensure that the attorney you have chosen is the best one for your case. The attorney must be able to make things easier for you, keeping in mind that the Illinois bankruptcy laws are complicated ones and it is not possible for a common person to be aware of everything. The attorneys are the specialized persons and they know how to use the various clauses of the bankruptcy code in favor of the debtor. If you are filing bankruptcy under state liquidation laws, you will require filing out a number of free forms. You have to be very careful while filing out these forms because if the court finds some manipulation with the facts, you may end up paying out some penalties. Your attorney must help you in filing out these forms.

Five Tips for Hiring a Corporate Lawyer

It is important when hiring a corporate lawyer that you receive the right advice. You also need to make sure that you choose the right lawyer to represent your business. You need someone who you can trust, who you know will do a good job and who you feel comfortable with.

Quality

Basically when hiring a lawyer you get what you pay for. Legal advice does not come cheap, and if you want good professional advice you need to invest in a good lawyer. Do your research and contact several lawyers before you make your decision. Ask for references and do not be afraid to ask them about their background. Ask lots of questions and get them to explain the basics to you. You need to be sure that you understand procedures properly so ensure that you listen and try to learn as much as you can. Not only will you learn a lot but you will be clear on what is going on at all times.

Fees

Usually corporate lawyers charge by the hour but if you are a small business or just starting up this kind of expensive could be out of your reach. It might make more sense for you at this stage to negotiate a fixed fee. If you feel it is possible you might need advice from a corporate lawyer on a regular basis then a retainer could be something you might want to suggest. Make sure it is made clear to you what their fees include as you don’t want to get any surprises down the track.

Advice

This does seem obvious but don’t just assume the lawyer knows what it is you want. Many business owners can have a preconceived idea that corporate lawyers deal with exactly the same situations over and over. It is not often just a case of getting documents filled in. Corporate lawyers will often be involved in drafting up contracts, but they can also give you great legal and business advice in regards to negotiating positions. You will find that your lawyer will mostly give you advice, above anything.

Relationship

It is a good idea to build a long term relationship with your lawyer, this is why it is important to find that right person in the first place. For the success of your business you need someone who has been with you for a decent amount of time and understands the ins and outs of your business. A growing business will need advice often so it is worthwhile getting a long with this person.

References

It does help to ask for references. Ask around amongst your friends and family, and also contact other businesses. They might be willing to share advice on choosing a good corporate lawyer. You may find references in unlikely places, like via social networking, or do a search on the internet. Industry magazines or legal publications may be able to help you find the right corporate lawyer as well.