Five Ways A North Shore Commercial Lawyer Can Help Your Business

 

Commerce is at the centre of any economy. From that, it could be argued that commercial law is the key part of the legal field. Whether or not that is the case, it is certainly true that a North Shore commercial lawyer is a vital part of any businesses contact list. Below we outline a few of the areas where local businesses will need to call upon the expertise of a commercial lawyers in the Albany area,

 

1. Legal Consultations: Businesses are strongly advised to talk to their North Shore commercial lawyer before they undertake any new business transaction. This can cover any topic from the initial set-up of the organisation, restructuring, considering entering a new market, launching additional products or services, or reviewing offers and contracts. A few hours conversation document review, and written advice can save major problems down the track.
2. Contract Drafting and Negotiations: If commerce is at eh centre of an economy, contracts are at the very epicentre of that activity. Without a contract, written or oral, commercial transaction quickly become messy, confused, and expensive. A key responsibility of commercial lawyers is to draft business contracts on behalf of their clients. On many occasions, the lawyer can negotiate the deal for the business they represent. A contract is intended to make it clear to any party the outcomes, rights and obligations of each of those parties. This covers, process, delivery, quality, payment terms, penalties, and dispute resolution methods. Sometimes it might seem that the lawyers are being picky, but it is better to invest a little extra time before the deal is agreed than to enter into expensive, disruptive, and potentially harmful disputes later on.
3. Contract Review and Due Diligence: On the other side of a proposed transaction, a commercial lawyer will carry out a review of the proffered contract. It is not surprising that one side will try to make the contract more favourable to them than to their customer. The buyer does not want to be obligated in that unfavourable situation so their lawyer will review the contract to protect their clients. This contract review, also called due diligence, will consider the legal ramifications, as well as the commercial issues outlined in the proposed draft contract.  The lawyer will consider the contractual obligations to avoid costly mistakes and safeguard the interests of their client in the review and negotiations.
4. Legal Representation in Transactions: There are often more complex commercial activity for businesses. These can be mergers, acquisitions, or corporate restructuring. These deals cover a wide range of issues, besides the fair value of the target company. Issues such as compensating shareholders, what is the fair commercial value, managing loans, indirect shareholders such as spouses or trusts. After, Employment Agreements, commercial leases, holiday entitlements, changing contracts details with suppliers and customers, and much more.  Having a commercial lawyer by your side during any negotiations for an M and A, or similar deal, means decisions can be made faster, your interests are safeguarded because you do not commit to anything that is disadvantageous. It can also simply look good to have an experienced lawyer at your side.
5. Enforcement of Contracts and Dispute Resolution: It is almost inevitable that at some stage a supplier or customer will have a problem and dispute the terms of the agreement. Contract dispute resolution is one of the busiest areas for any commercial lawyer. Often, contract disputes are simply a misunderstanding rather than a wilful breach. Whatever the reason, swift action by your commercial lawyers can often bring about a fast resolution to the issue. Other times though other measures will be needed. These can be negotiation, mediation, and ultimately litigation. Whatever the stage, a good North Shore commercial lawyer like McVeagh Fleming, will be able to advise, and help to reach a settlement.

Summing Up

Commerce is essential. Reducing the friction, is even more critical. Whether the friction is due to the company structure, commercial contracts, reviewing offers, advocating on behalf of your company, or more, having a top North Shore commercial lawyer at your side can be the difference between success or failure. Contact McVeagh Fleming for any commercial issue of your company.