If you are planning on opening a business/company or you already have one, you should hire a commercial lawyer. What is a commercial lawyer and what does he or she have to do with your business?

A commercial lawyer is a type of lawyer who works in corporate, financial or dispute affairs. These are the three main areas in which you may require the help or services of a commercial lawyer if you want your company to start and grow successfully.

Corporate Affairs

When you are starting a business, you are expected to meet various requirements (the laws governing such kind of a company in that state). Failure to do this, even if not intentional, can land you with legal problems (jail time or hefty fines).

A company also needs to have rules, regulations and policies that govern it internally. They should be based on the company's services and undertakings. Without internal laws, there cannot be order and organisation in a company; such laws are also used in employee contracts (employment policies).

Commercial lawyers who work in corporations should help you come up with these laws. From their experience, they can help you cover all the aspects you might not be aware of because of your lack of experience in the new business.

Financial Affairs

Of course, the main reason you start a business is to make profits. Profits are made by getting into financial agreements with clients. There should be rules governing these transactions. For example, matters such as money-back guarantee policies, policies that goods bought cannot be returned and the payment of deposits and clearing the full amount later may require a commercial lawyer. Commercial lawyers help create such policies and ensure they are enforced.

You might also want to borrow funds from financial institutions. You need a commercial lawyer to help you understand the policies of the financial institutions and to help you pick the one that suits your company best.

Disputes

It is not uncommon to hear of a company being sued by a product user or an employee. Such cases are best handled by commercial lawyers who work in dispute resolution. The first thing such commercial lawyers do is to avoid disputes by coming up with policies that protect the company, such as policies that eliminate the occurrence of a dispute by ensuring that the policies formulated do not leave the company in a vulnerable state.  If by unavoidable circumstances your company finds itself in a dispute case, a commercial lawyer can represent you.

To learn more, contact a commercial lawyer.