Although employing the services of commercial solicitors appears costly, it has the potential of saving your business considerable money. It is important that you develop a long-term relationship with your commercial solicitors so that they get to know the commercial dimensions of your business and therefore can offer tailored advice. Using law firms on an ad hoc basis prevents a quality of service, which a combined commercial and legal relationship can offer. |
When hiring a business lawyer, take a look at the entire firm. Does it have solicitors expert in all areas - you never know what needs might arise? For example if you are running a company, you will want a firm that has access to specialist company/commercial, employment and tax solicitors. By choosing a firm, which can offer you all these services, it means that your file can be opened by a business lawyer and when necessary, passed to another specialist without having to duplicate any information.
The following are some examples in which a company will need to use the services of a business lawyer; this is by no means a comprehensive list.
- Company incorporation.
- Drafting of constitutional documents.
- Drafting of important internal agreements.
- Buying, selling or renting commercial property.
- Problems with employees.
- Protection of intellectual property rights.
- Share sales.
- Tax problems.
- Litigation claims.
- Contract negotiations.
Employing a commercial solicitor can offer your business protection on many levels.
Prevention and Protection
Your Litigation solicitor should be involved during the incorporation of your company or launch of your business. In which the former, they can draft a comprehensive set of articles of association in line with the Companies Act 2006 and complete any necessary registrations with Companies House. At the same time as incorporation you may need other documents drafting such as a shareholders agreement or generic contractual terms & conditions. Your Litigation lawyer will be able to draft these documents in line with your company's articles and/or to your personal specifications. Most importantly however, is that your business's constitutional documents are legally watertight and your company remains better protected.
An experienced business solicitor can offer your company on-going protection, by drafting contracts of employment on your behalf and registering any intellectual property rights you may have.
Litigation and Protection
An experienced commercial solicitor will not only be able to offer your business commercial protection through good drafting skills. If an incident arises within your business, your solicitor will be able to offer you the professional advice you require to prevent litigation from occurring. Having a commercial relationship with your solicitor means that they will be able to act to appropriately reflect the needs of your business.
Your solicitor can also help your business solve or avoid conflict with regulators such as the HSE (Health & Safety Executive), HMRC (Revenue & Customs) and EA (Environment Agency). They can act as a go between communicating directly with the regulator on your behalf in order to answer any queries or resolve any problems. This might help deter any future challenges or litigation.
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