What do Commercial Attorneys handle?
Commercial attorneys are well-versed in laws that govern business and commercial transactions. These attorneys deal with commercial issues, which are viewed as a division of civil law, comprised of both private and public law. If an individual is interested in buying or selling a business, incorporating a business entity, or dealing with the day-to-day business ventures of a company, hiring a commercial attorney may be warranted.
The complexity of today’s business world requires an individual to ensure he is attentive to and aware of all of the facets of a business transaction of any sort. Especially within a business that deals heavily with contracts, or with the manufacture and sale of consumer goods, as well as with the issue of employee relations, it is essential to retain the use of a qualified commercial attorney who can assist with being thorough in how these issues are handled.
The affairs of commercial attorneys are therefore vast, and encompass many different areas. Any time a business is facing a potential lawsuit or legal dispute with an affiliating company, employees, or with consumers, a consultation with a qualified attorney would be the likeliest course of action. Negotiating contracts with other companies who are providing goods or services would also require a commercial attorney to oversee the process and the wording of documents. Attorneys can anticipate any areas of possible contention and can forewarn their client against proceeding in an ill-conceived business venture.
Because it is impossible for a business owner to be an expert in all of these areas, it is imperative to hire a competent attorney who can handle these issues efficiently and properly, to avoid any adverse consequences of mishandling these same issues without the use of an attorney.
When should I look for an attorney?
It is advisable to procure the services of a legal firm before you are experiencing any legal problems. In fact, utilizing an attorney should assure you that legal problems will be fewer and when they occur, they will be handled by someone who is already familiar with the set up of your company and the steps you have taken to avert legal problems. Thus, they can work to defend all that you have worked so hard to establish.
If you wait to obtain counsel until a legal problem has arisen, it will likely mean that there will be a higher cost to your company as you work to resolve the issue in a court of law. Therefore, a competent attorney should be employed whenever your business is first established.
What should I look for in an attorney?
A commercial attorney often has a specialty, because of the vastness of commercial law and its many subdivisions. If hiring a private attorney who generalizes in commercial law, he may not have the particular skills and insight you need to address every type of business problem you might encounter. For example, there are many types of business law, including contracts, disputes, business incorporation, real estate, taxes and intellectual property. There are too many nuances for one attorney to have the type of expertise needed to deal with all the facets of running a business.
Also he may not have the type of reputation needed to create the type of impression you would like when dealing with a legal situation. This is in direct contrast to a reputable and well-known legal firm that has multiple commercial attorneys with various specialties. These various legal experts can be consulted as needed with regard to any type of commercial legal issue. The legal firm represents an optimal scenario because of its ability to divide its attention among many different issues and to call upon the expertise of many reputable and experienced individual attorneys. The complexity of commercial law requires a business owner to think strategically and to hire the best commercial attorney or firm he can afford.
Do commercial laws vary by state?
In the United States, the adoption of the Uniform Commercial Code represents the effort to create a uniform body of commercial law, which has been accepted nationwide, by all 50 states, as well as the U.S. territories and the District of Columbia. Therefore, commercial attorneys should be familiar with the laws that govern business throughout the country. This Uniform Commercial Code should make handling the interactions between companies less complex, especially in cases where these companies operate in different areas of the country.
What qualifications should a commercial attorney have?
When hiring a commercial attorney, it is imperative that he have the academic background and experience necessary to perform his duties as they relate to meeting your business needs. You will need to ask a prospective attorney about his length and breadth of experience with regard to commercial law. He should appear confident and knowledgeable about his field of expertise.
One way to obtain the names of good prospective attorneys is to network with other business owners and obtain names of those attorneys who represent them. Within the business community, it should be easy to learn more about various attorneys and firms in this manner. Reputation is paramount in the field of law, and you will be sure to find that certain attorneys’ names will be repeated often, both in a positive and negative light. This is one way to gain a level of comfort with a firm you are considering to meet your legal needs.
Commercial law is a confusing and complex area of concern for a fledgling business owner. Although the answers to legal issues may not be obvious, it is important for a new business owner to know who to ask when issues arise. The simple act of deciding which type of legal entity your business will take is a question for a commercial attorney.
Whether to be a sole proprietor or to incorporate as a limited liability corporation can be a complex issue with unknown consequences, without the aid of a qualified attorney. The work of obtaining the services of an attorney will be repaid many times over once a fledgling business becomes larger and more successful over time.