Why would you need the services of a business law firm? You are running your business well, things are going on smoothly, all statutory and regulatory compliance requirements have been fully met and you do not have any litigation pending against your business in any court of law. So what will be the utility of hiring a business law firm apart from wasteful expenditure, you might say. Well, be assured that business lawyers are absolutely necessary at every stage of running a firm, if not to meet current exigencies but also to ensure that something drastic does not happen in future that might force you to close shop.
These are some of the services offered by a business law firm.
- Corporate law – This is very crucial because lawyers know the intricacies of law governing seemingly simple everyday transactions but which can have far reaching implications if anything goes wrong. Large corporations also require guidance on complex issues such as mergers and acquisitions, setting up infrastructure, public issues and framing supplier agreements.
- Civil lawsuits – This is a huge area that needs to be covered and is relevant for both small businesses and large corporate houses. It addresses such issues like shareholder and partner disputes, breach of contract by purchasers or suppliers, breach in trade secrets and any internal disputes between partners or owners or directors. This can severely affect operations. Business lawyers with their specialised acumen can help quickly resolve such problems.
- Property law – Property law may vary between states and hence it is absolutely necessary that you hire experts in this field. For example, if your business is based in Victoria, Australia, you should avail services of a well known Melbourne property development firm to meet your business needs. Assistance required can be in the form of sale and purchase of company property, licence disputes, leasing of land and property and real estate litigation. This is particularly crucial when you buy property for business expansion. A business lawyer will carry out searches of title that makes sure that the property in question has clear and marketable title, thereby preventing any future disputes and litigation and helping you to create mortgage against it with a lender. One of the leading property law firms in Melbourne is PB Lawyers who have made a name for themselves in this specific field of specialisation.
- For small businesses and start-ups – The reason for making this a separate category is that there is certain uniqueness to this sector. Large firms hire experts to take care of various aspects of operations which small businesses cannot afford. Hence a major portion of compliance issues have to be attended to by business lawyers. These include issues related to staff hiring and firing, environmental matters where the company is involved and dealing with investigations by regulatory authorities for non-compliance of statutory obligations.
- Preventive measures – While all the above points deal with litigation aspects, a vital side is ensuring that none of the above complexities are allowed to crop up. This is one of the key roles played by any business lawyer. You need not hire permanently, simply taking one on board as a consultant should suffice. When all your legal intricacies are handled by expert business lawyers, you will get more time to focus on core activities of growing and developing your business.
Business lawyers work mostly behind the scenes but their contribution to any trade and commerce entity is invaluable.