Legal missteps can create significant problems for any business, but for a small business, they can be particularly devastating. When it comes to protecting themselves when legal issues arise, small to medium sized businesses often don’t have the same resources as larger corporations.
What is a Commercial Lawyer?
As a business owner, you can’t know everything. Most business owners learn a little about a lot, while they focus on growing and supporting their business. One area in which it can be difficult to gain a deeper understanding is commercial law.
A commercial lawyer is there to help close that gap, protect you from making mistakes and help to resolve any issues that do arise. Sound legal advice helps you to make well-informed decisions about tax, employment, investments, business structure, commercial leases, contracts, shareholder agreements and more.
What Does a Commercial Lawyer Do?
A small business lawyer can help in a range of ways, from drafting contracts to offering tailored advice when issues arise. It really depends on your unique needs. Common areas in which a commercial lawyer can help include:
Business Structure Advice
Choosing the right structure for your business is essential. The benefits of separating your business legally can be many. A commercial lawyer can advise you on the best structure for your business, taking into account legal liabilities, tax benefits and more.
Draft Legal Documents
Commercial lawyers can help draft important legal documents such as partnership agreements, employment contracts, privacy policies, cease and desist letters and more.
Commercial lawyers help businesses remain in compliance with regulatory standards. This can include legal standards for business operations, employee safety and compensation or environmental impact.
Protect Property and Assets
Commercial lawyers also help businesses protect their assets and property. For example, intellectual property such as logos, domain names, trademarks and registered designs.
Commercial lawyers also keep abreast of the latest legislation and changes in law and can provide advice and guidance for how it may affect your business and its obligations.
Tips for When You Want to Hire a Lawyer
When you work with a good small business lawyer, they will be able to assist you in any litigation and provide advice on relevant legislation that impacts your business, from contractual disputes to legislative changes that impact your business at all levels of government. Before you hire a lawyer, make sure they have the appropriate local and general knowledge needed to address all potential legal issues. They should also be able to assist you with all other aspects of business law.
Legal Advice for Small Business Owners in Melbourne
For more detailed information about ‘what is a commercial lawyer’, ‘what does a commercial lawyer do’, and more, contact the team at McNab McNab & Starke. Our team of experienced small business lawyers offer tailored legal advice for small business owners:
Contact us today by calling us on 03 9670 9691 or using our online contact form.