Eight Signs You Should Hire a Commercial Lawyer
The longer you wait to hire a lawyer, the more serious the potential legal complications are. Legal experts are not like accountants or business advisors who provide general advice. A law firm must be specialized in the field to be of value to your company. The better a lawyer knows your industry and your company, the more helpful they will be.
So, when is the right time to hire a commercial lawyer
The simple answer is you should hire a lawyer before you need one. Corporate lawyers know how to help clients prevent problems, and maintain their legal affairs. When you hire a lawyer after a disaster, the lawyer spends valuable time and resources getting up to speed on your company's situation. They have to review company history and business practices. They must question and understand everything before they can guide you.
Here are 8 signs that you should hire a commercial lawyer before you need one
1) You have a complex legal problem
You may be involved in a legal wrangle with a vendor, ex-employee, or creditor. You may be facing court proceedings, or have a number of creditors. A commercial lawyer can quickly explain the complexities of your situation and assist you. He can clearly tell you which avenues of law to follow and can even advise you of ways to deal with an emergency. Furthermore, a lawyer can help you solve ongoing legal issues.
2) You are not sure about your rights
The legal system is not always clear. Just because you are dealing with a corporations does not mean your company legal rights will be protected. When you don't know your legal rights, you can't defend yourself or your company. A commercial layer who is familiar with your company and the local legal system and statues, can help guide you through them. ex. A company that deals with Tourism may be eligible to some government benefits that intent to promote Tourism, and a commercial lawyer may lead the company through the process to receive the benefits.
3) Your company is at risk of getting sued.
You're company is in trouble. You're company is at risk of getting sued. The most serious lawsuits are based on intentional acts and rights violations. You're going to need a commercial attorney to handle your company's lawsuits. Your attorney must know what legal grounds you're on, how to respond to claims, and how to successfully litigate. This includes understanding if You're going to have to be in court, if you Have been sued by your customers or vendors, how can you resolve the issue and the odds of you winning or losing. At times you must go to court to win and at others a settlement is preferred. As the lawyer, We try to work out settlements whenever possible.
4) Someone has sued you
If your business has been sued, you need to hire a lawyer to represent you. If Someone has sued you and wants to take everything you have, you have the right to know your legal options and be prepared to defend yourself. Hiring a lawyer to defend your company or help you negotiate a settlement could save you thousands of dollars. In addition, hiring a lawyer can protect you from crimes committed against you such as, your name being used to commit a crime. Your name has tremendous value, if a person has it and they need to take advantage of your name, they will do so. Your name can also be used to commit fraud, fraud against the government, or fraud against you personally. Hiring a commercial lawyer can protect you from these crimes.
5) You are facing a criminal investigation or an Administrative Hearing
If your business faces an official investigation for a crime or an administrative hearing, you should probably hire a lawyer to represent you. Criminal investigation is a serious matter. You may be on trial before a judge, or a prosecutor may file criminal charges. Whether your business is being investigated for a corporate crime, or a criminal offense like tax evasion, or you are a target of an insider trading investigation, you should get a commercial lawyer.
6) You are going through a divorce
If you are going through a divorce, there are probably better choices for a divorce lawyer than a commercial lawyer. Although hiring a commercial lawyer to help protect your business from the divorce proceedings is a smart choice. A commercial lawyer can guide you on what the best course of action is, to make sure your business is not affected by the divorce, all while keeping your business’s best interest at mind.
7) You have a dispute with a business partner
Negotiations become tense when a business partners gets into a dispute. Business partners often find it difficult to reconcile conflicting values. That is why it is critical to choose a competent commercial lawyer in a dispute with a business partner. Do not just do what you think is best. Hire a business lawyer before any problems arise, they can help you avoid mistakes that would have serious consequences.
8) You are trying to dissolve a business
Divesting is a complicated business. Dissolving a business is expensive and takes time. Finding a commercial lawyer can be a big help. A commercial lawyer will be able to guide you through the steps required to begin dissolving a business. The lawyer can assist in many ways, such as drafting the dissolution agreement, representing you in court, and choosing a trustee if needed.
Like every other important thing in life, hiring a lawyer is a personal decision. After all, there’s a lot to consider. If you are in the process of getting your commercial law services, take a minute to review these facts and consider the Potential Legal Woes that arise When something is wrong, it's best to get it right away. Get legal advice before a catastrophe happens to your business. Don't wait until your organization is sinking. I've found that most business owners are not knowledgeable about commercial law, or they haven't had the time to learn the intricacies.