Commercial law is a branch of law that is primary concerned with issues that may arise at any phase of the business life cycle. This branch of the law recognises that, like individuals, businesses too may get involved in disputes, and it is important to provide legal avenues to settle such disputes. Commercial lawyers specialise in commercial law, and they offer their services to businesses.
A commercial lawyer can handle a large spectrum of issues involving the legal aspects of the commercial world. Here is a breakdown of some of the common issues they deal with.
Under contract law, every business is legally bound to fulfil the terms and conditions of the contracts that they choose to sign. Before you can put your signature on any contract, it is important to understand the implications of the contract you are entering. Otherwise, your business could be held legally liable for any damages caused to the other party. You will need a commercial lawyer to help you decipher the stipulations of the contracts you enter into with customers, suppliers and even your employees. This way, you can have a better understanding of the full implications of the various contracts you sign so that you can get on with business.
It is not uncommon for employer-employee relationships to deteriorate. For example, some of your current or past employees may file lawsuits against your company for unfair treatment, sexual harassment, unsafe work environment and other types of workplace violations. Such issues can taint the image of your company if they are left to escalate. Using their extensive wealth of knowledge in labour laws, a commercial lawyer can help you reach an amicable settlement with your employees, and thus avoid legalities. If the issues end up in court, then you will have the right people to argue out your case.
Whether you are buying, leasing or selling commercial property, it is important to involve a lawyer at every stage of the transaction. A commercial lawyer will carefully examine all the paperwork that pertains to the purchase, lease or sale of the property and tell you if there are any red flags you should be aware of before finalising the deal. They can help you highlight any unfavourable contractual terms and also negotiate better terms so that the agreement that you sign reflects what you expected.
The problem with many businesses is that they only turn to commercial lawyers when things have escalated. By seeking legal help early, they may be able to avoid most of the issues that end up in court.Share