When most people consider hiring a lawyer for their business, they often think in terms of a single reason. They may need the lawyer to ensure licensing compliance, adherence to trademark laws, or to receive advice on labour and customer-relation requirements.
However, the reality is that a commercial lawyer is knowledgeable of many different legal areas that surround the operation of a business. In fact, commercial lawyers offer a wide variety of services for both small and large businesses, and they can be a one-stop shop for receiving proper guidance and advice during your company's operations.
What are some of the critical services that a commercial lawyer can offer?
Advice on Contract law
Businesses are fueled by contracts. For your business to be successful, you will need to learn how to properly prepare, issue and adhere to contracts. A commercial lawyer can guide you through every step of the way as you handle contracts between clients, suppliers and customers.
Tips on how to organize your business
Organising your business in a competitive and complex commercial environment is not as easy as it sounds. A commercial lawyer can help you make critical decisions surrounding how to properly organise your business. For example, choosing between setting up your business as a corporation or a Limited Liability Company can be confusing, especially under Australian law. A commercial lawyer can iron out many of these complications.
Real estate advice
As a business, you will encounter many real estate issues, such as leasing office space and handling your retail stores and commercial warehouses. A commercial lawyer can help you negotiate competitive rates for renting and hiring physical spaces. They can also ensure that you comply with the legal requirements of the lease.
How to handle intellectual property
Over the course of running your business, you may end up accumulating intellectual property such as copyrighted products and trademarks. A commercial lawyer can guide you through the process of registering and protecting your intellectual property so you can ultimately benefit from your hard work.
Taxation and licensing
To prepare your business, you will most likely need a variety of licenses from local municipalities, state authorities and even the national government in some cases. All this licensing work can be stressful if you attempt to do it yourself.
Luckily, commercial lawyers are available to guide you through the process of applying for the required licenses for your business. They can also give you tips on how to strengthen your application so you can get the best chance of having the application approved.