What is a commercial lawyer?
Commercial lawyers focus on a variety of legal areas that surround businesses. They provide expert advice in the creation and management of company structures, advice relating to financing and banking as well as commercial dispute resolution. They also advise businesses on the commercial aspects of property transactions, employment law.
The work of a commercial lawyer is generally transactional and involves the creation and registration of relevant documents for starting, financing and managing a business. If a business is involved in a dispute, commercial lawyers will negotiate on behalf of a business and may engage with a commercial litigator if a dispute goes to court.
What can a commercial lawyer do for me?
A commercial lawyer will do all the legal work required for a business. They will be able to create or review any contract relating to the running of your business in order to make it enforceable. They can customise any documentation you require such as leasing arrangements, sale terms and conditions or employee agreements. Additionally, a commercial lawyer can review and update any of your existing legal documents.
5 tips when hiring a commercial lawyer
Engaging with a commercial lawyer can be difficult, consider these tips before consulting with a lawyer:
- Research the lawyer you are wishing to engage with. Consider the size of business they usually represent, you will want a lawyer that has an interest in succeeding in your matter.
- Consider whether the lawyer has worked in your industry before. There might be industry specific regulations a lawyer with experience will pick up on.
- Consider if you can create any documentation yourself. Having a lawyer review, instead of create an agreement, might reduce your costs.
- Determine the type of relationship you want with your lawyer. Commercial lawyers will often do repeat work for clients and a good relationship may reduce costs and improve turnaround time.
- Read the retainer your lawyer provides. It will inform you of the obligations held by both you and your lawyer, it should also clearly outline the costs involved.