- What Does a Commercial Lawyer Do?
- August 6, 2016 | Author: James H. Gulseth
- Law Firm: JGPC Business & Corporate Law - Pleasanton Office
New entrepreneurs and small business owners may view commercial lawyers with some amount of suspicion and may hesitate to employ the services of such an attorney. We have heard it is a common perception that attorneys are too costly for new or small businesses and that a commercial attorney – one who is well-versed in the laws and regulations pertaining to business activities – may require too much the business’s limited store of resources to reap the benefits of using a commercial lawyer. Experienced business owners, however, know the value that a commercial lawyer can provide and will typically employ a commercial lawyer continuously to help keep their business running smoothly.
A Commercial Lawyer’s Knowledge Should Be Vast
When looking for a commercial lawyer to represent your business, it is important to employ an attorney who is experienced in helping your type of business. A small business has needs and concerns that can be different from those of a medium- or large-size business. Your commercial lawyer should be able to assist you with:
- Business formation and startup, which includes deciding what type of business entity you should create, helping you comply with, and crafting operating agreements and bylaws governing the operation of your business.
Contract drafting and breach of contract services. Not only should your commercial attorney be able to draft and review contracts necessary for the operation of your business (such as purchase agreements and capital acquisition), but your commercial lawyer should be able to advise you as to what steps to take if another party breaks its contractual agreement with you – or if you find yourself needing to get out of an unfavorable contract.
- Intellectual property protection and asset protection. This involves actively planning for unexpected occurrences such as your death or the death of a partner or director, the divorce of an owner holding a significant number of shares, and protecting the company’s tangible and intangible creations against unlawful infringement.
- Litigation services for those disputes that cannot be resolved through mediation or other forms of alternate dispute resolution. Litigation is often costly and time-consuming, which is why your commercial lawyer will often attempt to resolve disputes and claims outside of court. However, when a trial is inevitable, your commercial attorney should be able to efficiently prepare you and your business and prosecute your business’s claim (or defend your business) in a cost-effective manner.
This article was originally published on JGPC.com.