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Frequently Asked Questions

What are commercial/corporate lawyers?

Commercial lawyers or corporate lawyers, are lawyers who specialise in commercial law and matters dealing with businesses and organisations. Commercial lawyers provide legal advice to businesses with their primary objectives being to ensure their commercial and corporate clients interests are protected, alongside ensuring these clients are compliant with the relevant laws and regulations. Corporate lawyers often work closely with other individuals within the commercial industry such as accountants, financial advisors and consultants, to provide legal advice to their clients. The expertise of commercial lawyers is essential in ensuring a smooth and legally compliant process of streamlining the services offered by these individuals. Corporate law is heavily regulated by the law and in response, lawyers who specialise in how the law engages with corporations are essential in ensuring their success.

What should I consider when engaging with commercial lawyers?

Knowing when to get a commercial lawyer is vital in ensuring your business is legally compliant and structured properly. Some common signs you may need a commercial lawyer includes:

• You are starting a new business: if you are forming a new company, a commercial lawyer can help with selecting the right business structure (e.g., corporation, LLC, partnership), drafting organisational documents, and ensuring compliance with state and federal regulations.

• You need assistance reviewing contracts: commercial lawyers can review and negotiate various types of business contracts, such as employment contracts, lease agreements, vendor contracts, and non-disclosure agreements (NDAs), to protect your interests.

• Uncertainty over Intellectual property: If you need to register trademarks, copyrights, or patents, or if you are facing potential infringement issues, a commercial lawyer with expertise in intellectual property law can assist you.

How can a commercial/corporate lawyer help my business structure and formation?

Commercial lawyers can assist startup owners in business structuring and formation through selecting the appropriate legal structure for the business and assess factors such as liability protection and regulatory/legislative requirements to determine what structure is most appropriate. Most startup founders are unaware of operating agreements and bylaws which commercial lawyers can draft agreements for that are legally compliant. Areas such as taxation planning and intellectual property are vital to a business’s formation. Using a commercial lawyer to guide you in these areas can make or break your business’ formation as being legally compliant and concise is integral when setting up a business.

How much do commercial/corporate lawyers charge?

The amount corporate lawyers will charge their client is reliant on a wide range of factors. These factors may include the time, experience and qualifications the employment lawyer has and is able to provide. Typically, a commercial lawyer will charge individuals by the hour, meaning the legal costs will accrue with every minute that is used by the lawyer when working and representing their client. Lawpath has a large group of lawyers who specialise in commercial law on a fixed rate basis. Dealing with larger law firms can lead to an increase of paperwork, duration and legal costs. Our legal team provides quotes from our lawyer network, granting corporations the capacity to choose from a pool of lawyers that are best suited to their legal and financial needs.

Why would I need a commercial/corporate lawyer for my startup?

Using a commercial lawyer is not exclusive to large corporations and organisations. In fact, using a commercial lawyer for your startup business is highly recommended. Commercial lawyers can assist start up businesses with legal guidance and compliance, ensuring the business structure, activities and resources are compliant with laws and regulations. Commercial lawyers can also assist in drafting and negotiating contracts such as lease agreements, employment contracts and client agreements. Startup founders often opt-out of using commercial lawyers due to their costs, Lawpath’s commercial lawyers offer startups legal advice at an affordable price. In response, commercial lawyers can grant startups a regulatory compliance and legal guidance.

What are the financial benefits of hiring a commercial/corporate lawyer?

Hiring a commercial lawyer is a proactive method in preventing future detriments occurring down the line of business operations. Corporate lawyers help identify and mitigate potential legal risks associated with business transactions and contracts, assisting corporations in addressing and rectifying these problems. A commercial lawyer will also assist in contract negotiation and partnerships, with their expertise optimising efficiency and minimising expenses when engaging in these activities. Corporate lawyers will also manage intellectual property protection for businesses who require trademarks and patents to secure and safeguard businesses’ assets. Commercial lawyers prioritise their client’s compliance with legislative and regulatory requirements which prevent corporations from facing financial determinants down the road associated with non compliance.

What is the difference between commercial lawyers and business lawyers?

The primary difference between commercial/corporate lawyers and business lawyers is partially rooted in the actual activities these lawyers undertake, but heavily differentiated by the clients they manage and engage with. Commercial lawyers will primarily work with corporations and larger scale businesses that require assistance areas such as mergers and compliance with laws that impact businesses who are incorporated or undergoing incorporation. Business lawyers manage clients on a smaller scale and engage with small businesses, assisting sole traders, partnerships and entrepreneurs wanting to build a business or startup. Whilst commercial lawyers and business lawyers will overlap in their tasks such as compliance work and intellectual property, the two differ as their tasks differ in conduct.

What skills and qualities to commercial/corporate lawyers need to possess?

Commercial lawyers must ensure they possess a wide range of skills as the laws which govern corporations is quite an intricate area of the law. Some skills these lawyers must possess include:

• Commercial Awareness
Corporate lawyers must ensure they have commercial awareness, meaning that they understand how to navigate the intricate laws and regulations that govern commercial businesses. Being aware of trends and adapting to the rise of technology is central in ensuring commercial lawyers achieve success for their clients.

• Communication
Commercial lawyers must be able to convey legal concepts and advice in a manner that is understandable to their clients. Additionally, strong negotiation skills are crucial when drafting and negotiating contracts, mergers and acquisitions, and other business deals.

• Attention to Detail
In response to the laws surrounding corporations being heavily intricate and complex, corporate lawyers must ensure they pay attention to detail.

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