For most business owners the prospect of ending up in court to defend a legal claim by a disgruntled client or supplier is ever-present. Thankfully, these occurrences are rare, but that does not mean that commercial law cannot impact a business and it can do so every day it is trading. Knowing the ins and outs and commercial is simply not feasible for someone running a busy business given their time commitments which is why commercial lawyers are in such demand.
If you have held off from hiring a commercial lawyer thus far, even if it was in having them available to call for advice, you are missing out on the opportunity to not only ensure your business is protected, but to also give yourself peace of mind knowing that should you encounter a legal issue, you have the exact person you need to help you resolved it. If you have not been convinced yet of the merits of a commercial lawyer, here are some other reasons which should.
Commercial And Business Law Expertise
Maybe an obvious one, but think about this. If your car needs to be fixed you take it to a trustworthy mechanic. If you have a health issue you make an appointment to see a health specialist. So, when it comes to any matters relating to commercial law, it stands to reason that a commercial lawyer is who you should seek out. They have the expertise, knowledge, and experience to support your business through any commercial law scenarios that present a risk to your business.
You And Your Business Interests Are Protected In Advance
As well as being available if an issue arises unexpectedly, a commercial lawyer will also help you put your business affairs in legal order so that you are protected in advance against legal claims or falling foul of commercial law. Preventing issues is an important part of a commercial lawyer’s work as is helping to resolve them should they happen.
They Can Determine If You Should Proceed With Litigation
It is not always the case that you are the defendant to a legal claim. It could be that you are the claimant and wish to seek legal redress in a commercial matter against another party. Your commercial lawyer will not only represent you to the best of their ability but before any legal action, they can advise you what is the correct legal path to take, if any.
If they advise against it, then they may well be protecting you from a counterclaim or from proceeding with a claim that you have little or no chance of gaining a favourable outcome from. This will save you a considerable amount of time and money.
They Need Not Cost You Anything
That statement might sound ridiculous as we all know that commercial lawyers require fees in the same way any other type of lawyer would. That is so, but imagine a scenario where you and your business are being sued for a substantial amount of money under commercial law. What if you went into that case without legal representation and lost. What would it cost you? Thousands of dollars? Millions? Your entire business? You could even find yourself bankrupt.
Now, consider if you have employed an experienced commercial lawyer to represent you instead. Not only could they help you win the case, saving you an untold fortune in compensation, but if the worst happened and you lost, they will certainly ensure that any penalties you had to endure were minimised. Either way, it would more than cover their fee, thus effectively costing you nothing.
They Can Assist You With Your Future Plans
Hopefully, you have a successful business and plan to expand it. This could take you into a legal minefield with regards to buying other businesses, using new suppliers, leases on land or equipment, and new employees. All of these are covered by commercial law in some way. By seeking the advice of your commercial lawyer beforehand, you can expand your business knowing your actions are compliant and the relevant commercial legalities.