Commercial Lawyer

Commercial lawyers are attorneys who practice business law. Their primary duties involve drafting contracts and reviewing company agreements and mergers. Commercial lawyers might choose to work for a law firm representing many clients or be employed by a company to serve its legal interests.

Job description

Typically, commercial lawyers deal with business transaction issues. They are involved in drafting client agreements or participate in the negotiation of employment contracts and write purchase agreements. Commercial lawyers might practice law in law firms representing multiple clients. Some lawyers work as in-house attorneys in a single corporation. In contrast, others might be employed by government and international agencies where they review international business transactions or negotiate trade deals and agreements.

Duties and responsibilities

Generally, commercial lawyers are tasked with company paperwork, especially contracts and business documents. Most of their time is spent researching, writing, and editing financial reports. They also do examine national and international laws to identify rules and regulations that might arise and conflict with the law and advise accordingly. The business documents are those related to establishing or dissolving a business, business mergers, sales contracts, and establishing non-compete clauses. Other duties may include changing or restructuring the organisation’s structure where necessary. They also do corporate with other lawyers and clients to execute paperwork or close contracts and complete transactions.

Salary and remuneration

Although commercial lawyers practice in different areas of specialty, their salaries and remuneration are almost the same. Generally, lawyers are high-income earners compared to other professionals. Those lawyers who practice law in partnership tend to earn more than those who practice independently. All lawyers involved in business affairs are referred to as commercial lawyers and must possess law school degree and state licensure.

Types of commercial laws

Commercial laws are those that regulate sales and distribution of goods, business dealings, and financial transactions. It also covers consumer protection and competition.

Business law vs. commercial law

They often overlap, and it is hard to draw a distinct line between the two. Commercial law focuses on sales and distribution of goods, financial transactions, and retail operations. In contrast, business law deals with issues like business or company formation, leases, and transfer of ownership, shares, and distribution of profits, business mergers, and acquisitions.

Business law is heavily regulated and determined by state and federal statutes. States regulate business law by implementing regulations that take care of issues like employment, workplace safety, loans, and capital raising and environment protection measures. State governments can pass rules to govern certain business areas, like endorsing licensing requirements for different businesses and professions.

Things to look for when hiring a commercial lawyer

As a business entity, it is in the best interest to have a knowledgeable attorney to take care of your legal business requirements to ensure your business operates within the law. Without legal knowledge, your business risks cancellation of contracts, loss of revenue due to fines levied for non-conformity with the legal standards. A commercial attorney will help you negotiate for deals and protect your legal business rights whenever possible. While hiring an attorney, look for experienced lawyers in the field of business. With experience, you will be able to receive practical advice and legal solutions after considering similar case studies and act following the ethics and practices in the industry. Hire an attorney if your business needs one and make sure he/she has relevant qualifications and experience.

Taurus Legal are commerical lawyers in Melbourne. Give them a call to find out about their professional legal services.

What to Look For in a Solicitor

For any on who has faced legal issues either in their business or personal lives know the importance of hiring the right solicitor. Solicitors not only offer you valuable advice but also help you get out of any legal troubles you may be facing.

The first mistake which most people make is not hiring a solicitor until they start facing trouble in their business. Anyone who has even a small bit of business know how knows that legal issues spring up every now and then. Whether yours is a new start up or an already established business, proper advice from a solicitor can help make or break your business.

No matter what size your business is, you would need a consultation from a solicitor at some point. Even small businesses have to pay taxes and there are certain concerns which should be addressed immediately.

Choosing the right solicitor

So how do you go about choosing the right solicitor? It’s pretty simple. You just need to ask around. The best way is to get a list of solicitors in Gold Coast from the local law society. They have a complete list of lawyers who are licensed and are thorough professionals. On the other hand, if that doesn’t work for you, you could simply go about asking people within your business circle. They would have surely hired someone to help with legal issues.

Once you have short listed a few solicitors, it’s advisable to at least look up three of them. It’s advisable to let the, know that you are looking for a long term partnership. While most lawyers would offer a first free consultation not everyone works this way. If you go for a more experienced firm you would have to pay a small consultation fee. However the first interview is helpful because it allows you to ask all the questions you have. What’s more you would be working with these people on a long term basis.

When speaking with the solicitor make sure you take a note of the following

  • Their experience in dealing with your genre of business. This would enable them to offer you the right advice when required.
  • Each business has particular tax implications. So make sure your lawyer is aware of how your business works and what legal actions should they take to safe guard your interests
  • Explain your business goals. An attorney should have your best interest at heart. They should be willing to allow your business to grow and have a long term collaboration with you.
  • How they communicate with you. Understanding legal language is not easy. If they speak to you in a way which makes it difficult for you to understand what they are saying, you better look for someone else to help you. As a business owner you need to know as much about legal issues pertaining to your business as possible.
  • How well do you get along with them? Building a rapport initially ensures that your working partnership is a successful one.

For more information on law firms in Gold Coast, make sure you contact a professional firm that can assist in the right areas.