What is a business lawyer?
A business lawyer, also often referred to as a commercial lawyer, specialises in providing legal advice and services related to the operation, governance, and challenges faced by businesses. Their expertise generally spans a wide range of issues faced by businesses.
Business lawyers are helpful in ensuring compliance with commercial law, and in helping decisions that drive business growth.
What do business lawyers do?
A business lawyer provides the necessary legal guidance to ensure that a business operates within the bounds of the law, minimises risks, and successfully navigates legal challenges.
Their goal is to facilitate the smooth operation of a business within the bounds of the law. They act as both protectors and guides, helping businesses navigate the complex world of commercial law. Whether it’s starting a new venture, managing an existing company, or resolving disputes, a business lawyer offers valuable expertise at every step.
Key responsibilities of business lawyers
They provide counsel to businesses about their rights, responsibilities, and obligations.
A significant portion of a business lawyer’s job involves creating legal documents. This includes business contracts, employment agreements, shareholder agreements, and other essential paperwork.
Business lawyers often represent companies in negotiations, whether it’s for a new business deal, a merger, or resolving a dispute.
They ensure that a business’s operations, products, and practices comply with applicable local, state, and federal laws. This might include areas like employment standards, consumer protection, or environmental regulations.
If a business is involved in a legal dispute, a business lawyer may represent them in court. This could be for issues like breach of contract, employment disputes, or business torts.
Business lawyers can advise entrepreneurs on the type of business entity they should form and handle the necessary registration and paperwork. This includes setting up sole traders, partnerships, trusts, and companies.
Intellectual property protection
Business lawyers help companies protect their intellectual property through patents, trademarks, copyrights, and trade secrets.
Real estate transactions
A business lawyer can help review or draft employment contracts, develop company policies, and handle disputes between employers and employees.
Insolvency and bankruptcy
In situations where a business is facing financial distress, business lawyers can advise on the best course of action, whether that’s restructuring or liquidation.
Maintaining corporate records
For businesses structured as companies, lawyers ensure that the necessary corporate records are maintained and that annual filings are made.
Benefits of using a business lawyer
Using a business lawyer offers a range of benefits that can be instrumental to the success and protection of a business.
- Expert guidance: Navigating the intricate landscape of commercial law can be challenging. A business lawyer will have the experience to guide companies through various legal issues, ensuring that decisions are well-informed and aligned with the law.
- Risk mitigation: Almost every business decision comes with potential legal implications. A business lawyer helps identify and minimise risks, safeguarding the company from potential lawsuits, penalties, or reputational harm.
- Contract proficiency: Contracts form the backbone of many business transactions. A business lawyer ensures that these contracts are clear, enforceable, and protect the interests of the company. This extends to drafting, reviewing, and negotiating terms to achieve the best possible outcome.
- Regulatory compliance: Businesses operate in a regulated environment. From employment law to industry-specific guidelines, a business lawyer ensures that a company remains compliant, averting potential legal pitfalls and the associated penalties.
- Dispute resolution: Disputes, whether with partners, employees, or other stakeholders, can unfortunately happen. A business lawyer offers invaluable assistance, from mediation to court representation, ensuring that disputes are resolved efficiently and in the company’s best interests.
- Business growth and transitions: As a business expands, merges, acquires, or even sells, these transitions can be legally complex. A business lawyer ensures that these processes are seamless, safeguarding the business’s interests at every step.
- Employee relations: From hiring to contractual agreements and potential terminations, managing employee relations is a delicate process. A business lawyer ensures that these activities are carried out within the legal framework, minimising potential conflicts or disputes.
- Informed decision-making: With a business lawyer’s insights, business leaders can make strategic decisions with a comprehensive understanding of the legal implications, ensuring that actions taken are both strategic and legally sound.
- Financial savings: While engaging a lawyer comes at a cost, the potential financial savings in avoiding lawsuits, penalties, or poor contractual terms often far outweigh the initial investment.
Can a business lawyer help you?
In short, a business lawyer acts as both a shield and a compass for a business. They not only protect businesses from potential legal challenges but also steer them towards opportunities and strategies that are legally sound.
Offering both peace of mind and a strategic advantage, having a business lawyer by your side can be an invaluable asset.
Choosing a business lawyer
Your job is to dream big and take initiative. Our job is to make sure you do it risk-free.
At Marc Hardman & Associates, we have been at the forefront of commercial law, helping the Sydney business community for over four decades. We take pride in our work with local investors and entrepreneurs, believing that our role goes beyond just legal counsel; we are active contributors to the growth of our community.
We know the pressures, the aspirations, and the concerns that come with steering a business. Our mission is to alleviate these concerns, providing guidance grounded in empathy and profound legal expertise.
Our in-house team, comprised of skilled lawyers, solicitors, and solicitor conveyancers, ensures that we can offer comprehensive solutions to our clients, making us a one-stop shop for all business and commercial law needs.
While we are confident in the quality of our services, we always encourage potential clients to delve deeper. Seek referrals, contact us for an initial consultation, explore our fee structures, and check online reviews. After all, choosing a business lawyer is a significant decision, and we want you to be as confident in us as we are in our ability to help.