Business Matters: 5 Points to Consider When Looking For a Commercial Lawyer
Nov 30, 2021 03:19 PM EST
The corporate world is a jungle in itself. If you are not armed with the right tools, coupled with enough expertise, you may not be setting up your business for success. Your best bet will be having experts on board who can guide you through building a formidable business structure. And who might these be? Commercial lawyers.
Commercial lawyers, sometimes referred to as corporate lawyers, are experts in business and trade laws. They understand the legal technicalities as affected by national and local statutes when it comes to corporate regulations, including taxation matters, property zonal value, permits and city clearances, etc.,
Whether your business has just started or engaged in the industry long-term, having a commercial lawyer is an advantage to you as an owner or executive and your overall enterprise. Here are some qualifications of a commercial lawyer that you must contemplate:
Reputation is key to finding a good commercial lawyer or law firm as a whole. Commercial law itself is a broad field, and you wouldn't exactly have a general picture of your chosen lawyer's performance unless you inquired around about his achievements in the legal field. Perhaps you can start with people you trust - such as colleagues or close friends.
You may also start scanning around your area for reputable law firms that not only give you the sound advice that you need for your business but will also help you have more confidence in strengthening your business system. In Australia, Green & Associates Solicitors for example, provide the best lawyers for your commercial business needs.
Whether you are involved in tech, retail, food, or any other kind of industry, having a commercial lawyer who has a full grasp and complete understanding of your business model is both beneficial and empowering.
If you are among those entrepreneurs who desire to create a positive impact globally, your business model will always be tailored to move forward. This also entails challenging market norms by presenting products that are out of the ordinary. This transformation can be classified under "Radical Business Model Transformation."
However, having a "unique" business model would also have its challenges. A commercial lawyer will assist you in navigating the market in case of legal disputes, complaints from the competition, or your customers because of your business model.
Of course, everyone knows the vicious market, and it is a dog-eat-dog world for entrepreneurs and business executives. In the global arena where the competition is tough, it is vital to have a commercial lawyer who sits firmly with his morals and values and does not give you advice that would mean circumventing laws and regulations.
Legal counseling in the corporate world needs to uphold high ethical standards so as not to compromise the integrity of the clients. When it comes to "gray areas" wherein the application of one's understanding of business law is being tested, a competent commercial lawyer will always uphold the law.
You can say that all business deals achieve success because of excellent communication between parties. It is crucial in commercial legal counseling that the client is comfortable and at ease with his lawyer. Good commercial lawyers know how to take note of their clients' speech and disposition when dealing with challenges.
Like typical long-term relationships, trust and communication is key to a harmonious union. This would also apply to attorney-client relations. Part of the relationship is that the client is at ease with sharing his details so your commercial lawyer can best guide you in your legal concerns.
It is unavoidable to have internal disputes within the corporation or business entity, which can also happen between lawyers and their clients. One of the prominent issues that come up with attorney-client relationships is the non-transparency of legal counsel regarding fees. This is not only limited to the employment of the lawyer or the firm. It may also include judicial processes such as court docket fees or permit charges.
At the onset, do not hesitate to ask your prospective commercial lawyer upfront about his fees. This should also include laying down additional charges that you might incur throughout the attorney-client contract, such as administrative charges or filing fees with the court.
In addition, do not be immediately turned off by individual commercial lawyers or firms who have a high charging rate. Those who offer cheaper services may not be that adept with the legal processes, would not have the resources to understand your business model, or even bring legal disputes to court.
When choosing the right commercial lawyer who will represent your business, choose one who is trustworthy, reliable, and competent. Having a lawyer who pursues peace of mind for his client regarding dealings assures that you're in good hands.