Commercial lawyers offer protection for small businesses
The legal world can be a challenging landscape for any business, and one misstep could prove disastrous. Whilst large companies often possess the capital and resources necessary to protect themselves from legal issues, for smaller businesses, defending your firm from legal action may be far more challenging and have the potential for greater impacts.
A commercial lawyer can help you understand the complexities of corporate law, and avoid challenging legal problems so that your business and staff are safeguarded from liability.
A commercial lawyer will discuss your business’s legal needs and utilise their experience in the field to help you find the most suitable solutions for your organisation.
How commercial lawyers can help your business
Here are a few reasons why you should consider working with a commercial lawyer:
Assistance with contracts
When creating a contract for a new venture, there’s always a risk of making mistakes, which could lead to serious disputes. A commercial lawyer can help you understand the laws affecting your business, determine the terms and conditions of the partnership, and craft an appropriate contract.
Help with litigation
You may not always have the answers to the legal-related challenges your business experiences. Fortunately, a competent commercial lawyer can guide you in these difficult situations. With their legal expertise, you can achieve the best possible outcome for your business in circumstances that require dispute management.
Negotiation assistance
Negotiating partnerships and ventures with other businesses can be a delicate process. During this process, a commercial lawyer can advise you on the negotiation process to ensure legal compliance and protect the interests of your organisation. They will also review partnership contracts for you.
Adherence to business compliance
If your business fails to ensure regulatory compliance, you could face severe penalties. Sometimes, you might not even be aware your business is violating any laws, but commercial lawyers can help you understand regulations that affect your business and the penalties you may face for non-compliance.
Contract management training
Commercial lawyers can provide comprehensive contract management training to help you and your staff better understand laws. They will cover areas such as financial and legal obligations, identifying and reducing risks, and the various contractual obligations of your business and staff members.
Creating legal documents
As well as drafting contracts, commercial lawyers can help you draft various legal documents required by your organisation. These include privacy policies, shareholder agreements, and cease and desist letters. After the drafting process, these lawyers will review them to ensure everything is in order.
Constructive Legal Solutions is here for all your legal needs
We boast a highly-qualified team of commercial lawyers and legal consultants who can assist you to overcome numerous challenges in commercial law. We understand the myriad of difficult legal matters business owners may need to contend with and can guide you every step of the way.
Whether you’re a sole trader or the owner of a small to medium-sized business, we’ll help you understand how the law can impact your business and how you can achieve the best legal outcomes when necessary.
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Frequently asked questions
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A legal contract must contain an offer, certainty of terms, intention to create legal relationships, and legality of purpose.
In Australia, business structures include sole traders, partnerships, companies, and trusts. Each of these structures has unique legal, tax and reporting obligations, and depending on your business structure, you may be required to register a business name (if different to your own name) with the Australian Securities and Investments Commission (ASIC), obtain an ABN, and register for GST. In addition, certain types of businesses will be required to obtain permits and/or registrations in order to be able to operate, and obtain unique forms of insurance.
This is only part of the overall picture when establishing a business. Working with a commercial lawyer when starting up can help to ensure you are covered on all bases.
Directors are required to act in the best interests of the company, avoid conflicts of interest, exercise care and diligence, and ensure compliance with laws and regulations.