What is a business lawyer?
Business lawyers complete a wide variety of legal work for businesses ranging from business setup to winding up a business. Their primary role is the creation and review of day-to-day commercial agreements which typically include business sale agreements, services agreements and intellectual property solutions. They also deal with disputes between business stakeholders and can advise business owners when looking to sell or acquire businesses.
The specific work completed by a business lawyer is transactional in nature. They are able to complete the relevant documents for the registration, financing and managing of a business. They will provide general legal advice into any aspect of a running business.
What can a business lawyer do for me?
A business lawyer should be able to advise you on every facet of your business. Ideally, they will be a lawyer that the business can work closely with to ensure transparent and affordable advice. They can draft and negotiate the day-to-day contracts the business needs. Additionally, if you have any documents or agreements needing revision, they will be able to help. Business lawyers can provide advice tailored to the needs of your business.
5 tips when hiring a business lawyer
If you are looking a engaging a business lawyer, consider these tips before consulting them:
- Research the lawyer you are looking to engage with. Consider if they are appropriate for your business size. It might be important that they are accessible to you.
- Consider what industry experience this lawyer has, will they match the needs of your business?
- Determine the relationship you want with your lawyer and search for it. Business lawyers will often do repeat work for clients and a good relationship may reduce costs and improve transparency.
- If you are looking to create an agreement it might be a good idea for you to prepare a draft, this might reduce your legal costs as your lawyer may only need to revise it.
- Determine what you want the outcome to be. If you are looking for the creation of a contract, make sure your lawyer knows what terms are important to you and your business.