There is a wide range of services that business lawyers provide for business owners. Many of these services are completely essential to establishing and running a business, so many business owners may already be familiar with the importance of business lawyers. However, people who are planning to start a business or who have recently taken over one may not know all the services that a business lawyer can provide.
If you’re a new business owner, you also may not know the best way to go about finding a lawyer that you trust for your business. Here is our advice on finding the right business lawyer for you and what they can do to help your business.
Use Free Consultations to Find a Business Lawyer
Many law firms offer free consultations for new clients. These are a good opportunity to get a feel for the lawyer and find out if you will be able to have a strong working relationship with them. This may not seem that important when looking for a business lawyer, but trusting your lawyer is incredibly important. You have to believe and know that they have your best interests in mind and that they are doing everything they can to represent you diligently.
Every law firm that offers a free consultation will have a different process for how they organise and conduct a free consultation. One example is Rose Lawyers; they offer a free 15-minute phone consultation that is booked in advance. They can explain their level of experience, the legal steps involved in their services, how they communicate with clients and answer any other question you have.
Buying or Selling a Business
The right business lawyer will be able to guide you through the whole process of buying or selling a business. The primary service that a lawyer will provide in this case will be creating the contract for the sale or purchase of the business.
However, a lawyer will also help you consider other questions, such as whether there is a lease with a suitable amount of time left on it, whether the company is being sold or just the business being conducted by the company, whether the intellectual property of the business is being sold and many other considerations. With a business lawyer looking into all the details, you’ll always know what you’re getting with a business purchase or sale.
Commercial leases are usually far more complicated than residential leases. They cover all types of premises that business is conducted in, from warehouses to offices and retail stores. Commercial leases will determine the changes you can make to the property, including things like signage.
A good business lawyer will be able to guide you through the complex legal terms in a commercial lease as well as help you negotiate the terms. This requires a knowledge of the lease itself, the legal system and the local property market.
Business Structure Advice
If you’re starting a business, getting legal advice on how to structure your business is very important. Depending on the type of business, you may want to set up as a sole trader with a business name, enter into a partnership or joint venture, or set up a company.
Each of these options has advantages and disadvantage as well as different tax implications. A business lawyer will be able to give you advice on what option would be best for your circumstances.
Owning a franchise is a great way for people who have not owned a business before to get a start. Because it’s an established brand, your new business will have a head start. But there are many things that you will need to consider before opening a franchise.
A business lawyer will help you determine whether the franchise is suitable for you, if the business is viable, confirm that the franchisor has provided all the necessary information and review the franchise agreement.
Breach of Contract
A Business lawyer will also represent you if your business is involved in a breach of contract dispute. Whether someone has not fulfilled their obligations to you or circumstances have prevented you from fulfilling your obligations, a business lawyer will represent you no matter which side of the dispute you are on.
There are many options for dispute resolution, including negotiation, mediation, VCAT and litigation. A good business lawyer will be able to advise you on the best course of action for dispute resolution.
Finding a law firm you can trust will give your business access to many invaluable services, giving you the opportunity to achieve business success.