What You Need to Know About Commercial Lawyers
Posted on: 1 March 2018
Commercial lawyers are those who specialize in matters related to opening and operating a business, and these professionals can be very important when it comes to the success of your business, and when it comes to protecting your work and your profits. If you own or manage a business and have never worked with a lawyer before, note a few key factors to consider, including when it can be necessary to consult with such a professional and how to select the right one for your legal needs.
Hire them before you're sued
Don't wait until you're actually served with papers before you hire a commercial lawyer. Contacting a lawyer as soon as you know you have a disagreement with another property owner, customer or client, partner, employee or anyone else, can help to avoid a court summon or other such costly legal measures. A lawyer can advise you on your rights and your responsibilities as a business owner, and also help to negotiate with the other party, potentially avoiding a lawsuit altogether. This can mean fewer legal fees and court costs and less risk of damage to your reputation by an unhappy client!
Commercial lawyers have specialties
Commercial lawyers often have more knowledge in certain areas of the law in which they have more experience. This might include contracts, taxes and licenses, intellectual property, real estate, liability and so on. Rather than assuming that all commercial lawyers are alike, and that all of them are qualified to handle your legal concerns, ask about their specialty. This will ensure you choose the right commercial lawyer for your needs in particular.
Billing and costs
Larger law firms may have a larger staff to pay, and may have more individuals working on certain cases. This can be an advantage to you, if you're being sued or facing the loss of your business for any reason. On the other hand, smaller firms may not have as many resources and as many members of their staff to devote to your case, so they may charge less.
There is no easy way to decide on the best firm for your needs, based on their size and cost. For a lawsuit that might cost you your business, it can be good to invest in the larger firm with more members and more time to devote to your case. For everyday matters, such as handling your taxes and composing employee contracts, a smaller firm with fewer resources but with less cost can be a good option for many business owners.
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