Many business entrepreneurs entertain the notion that hiring a lawyer is an expensive and unnecessary thing to do when there are other aspects to look into. However, the truth according to Rowe Bristol is that commercial lawyers can help prevent expensive and time-consuming mistakes that can threaten the stability and success of your business. Smart business entrepreneurs find a lawyer that they can rely on and make them a part of their business team from the start. Having a trained lawyer on your side to tackle legal issues can prevent them from snowballing into bigger troubles down the line.
A trusted business lawyer can provide valuable guidance and assistance in several different ways:
- Advising you on the type of structure that is most suitable for your requirement
- Providing guidance on the permits, licenses etc that you need to take in order to legally set up a business in Australia
- Preparing and creating standard agreements and contracts as well as specialised ones as and when the need arises
- Advice on preparing sale or purchase agreements
- Guidance regarding tax laws, employment policies and procedures
Your lawyer will also help review and negotiate contracts with third parties including property leases and loan documents. They can also provide valuable assistance in preparing non-disclosure agreements and work for hire contracts. Commercial lawyers can also help formulate agreements to protect confidential company information and advise you regarding compliance issues. If you wish to protect your business name, logo, packaging and labelling etc under trademark protection, your lawyer will be happy to prepare a correct and complete trademark protection application to the relevant authorities.
Once your business is off the ground and running, your lawyer can continue to be of use to you in several ways. Your business lawyer can negotiate fair terms for you in case of new contracts as well as review drafts of agreements prepared by other parties. This will ensure that your best interests are protected at all times. In the event of a dispute, consulting your lawyer at the earliest can help prevent you from offering more money than you should or making damaging statements. Your lawyer will evaluate the situation and make appropriate recommendations in order to settle the matter in the best manner.
Similarly, if you plan to expand your business by opening up in a new location, your lawyer will help you procure the relevant permits and licenses. Purchasing another business may raise several legal and diligence issues before the process is completed. For example, the new business may require a different tax structure. In addition, commercial lawyers can help their clients prepare for unexpected contingencies like the death of a business partner and succession planning.