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What Can a Commercial Lawyer Do for Your Business?

What Can a Commercial Lawyer Do for Your Business?

Running a successful business requires a solid foundation, one of which is legal compliance and legal risk management. In today’s complex and ever-changing business landscape, having a knowledgeable and experienced commercial lawyer by your side is essential.

Commercial lawyers work closely with business owners or individuals engaged in trade, to help them with legal issues ranging from business set up, business purchase and settlement, business operation, business contracts, compliance and licensing, business expansion and business sale.

If you are a business owner or an individual engaged in trade in Western Australia, West Perth Legal’s commercial lawyers can provide invaluable assistance and guidance, ensuring that your business is equipped to navigate legal challenges and seize opportunities. In this article, we will explore the key ways a commercial lawyer can assist you.

Legal Structure and Business Set Up

Choosing an appropriate legal structure at the beginning is crucial as it can affect issues such as tax liability, legal liability, business expansion and business exit methods and costs.

The common business legal structures are a sole trader, partnership, corporation, and trust. Different structures carry different levels of liability protection, regulation, and costs for set up and ongoing maintenance. In certain cases, you can use a combination of these legal structures to achieve your business goals.

We recommend that you work with an accountant and commercial lawyer to determine the most suitable legal structure for your business. A commercial lawyer can assess your unique circumstances and goals to recommend the optimal structure, advise you on the potential risks associated with each option and help you set up the appropriate legal documents required for your business.

Buying a business and business settlement

Buying a business can be an easier way to start your own business, with existing client base, operations, and revenue stream. However, it is important to conduct a thorough due diligence before you purchase a business. A commercial lawyer can help you with legal due diligence, reviewing existing contracts and agreements, assessing risks, and negotiating favourable terms.  A commercial lawyer can also help with advising on the appropriate legal structure used to acquire the business, draft and negotiate the business sale agreement, and ensure a smooth transfer of assets through business settlement.

Support for Exiting a Business

When it is time to exit your business, a commercial lawyer can help you develop an effective exit strategy that is suitable for your legal structure, help you understand the legal implications and the necessary paperwork that is required to successfully make the transfer.

A commercial lawyer can assist with drafting and negotiating exit agreements, addressing non-competition clauses, intellectual property rights, and the transfer of shares, assets, and liabilities. We will ensure compliance with legal requirements, handle employee-related matters, and facilitate a smooth transition for all parties involved.

For sellers of a business, a commercial lawyer can assist you with drafting and negotiating a business sale agreement, and facilitate a seamless transition. In certain situations where the seller chooses to provide vendor finance, a commercial lawyer can also help facilitate this through a vendor finance agreement.

Contract Negotiation, Drafting and Review

Contracts are essential for any business transaction. Commercial lawyers are skilled in contract review, contract drafting and contract negotiation and can provide invaluable support when you are entering agreements with suppliers, clients, or business partners. A commercial lawyer will help ensure that your contract is accurately drafted for its purpose and contains the necessary clauses to protect your interests.

An experienced commercial lawyer can help you identify potential risks, negotiate more favourable terms, and safeguard your rights. This will minimise the likelihood of disputes.

Commercial Leasing

Choosing a commercial premises is a major decision for any business, and it goes without saying that the commercial lease is an important legal document that affects business costs and decisions. Commercial leasing legal issues can arise from the beginning of the lease through to the life of the lease, and finally termination. In this regard, West Perth Legal’s commercial lawyers offer comprehensive assistance to clients in both commercial leases and retail leases throughout the life of the lease.

If you are a tenant, our lawyers can review and negotiate lease agreements on your behalf, ensuring that your rights are protected. We will advocate for more favourable terms and provide reliable advice should any disputes arise during the lease term.

For landlords, our lawyers can assist in drafting clear and comprehensive lease agreements that safeguard your interests. We will ensure compliance with applicable laws and advise you on your rights and responsibilities throughout the lease duration. In the event of disputes, we can provide effective representation to protect your interests.

For ongoing leasing services, we offer legal services for lease assignments, subleasing arrangements, lease terminations, and lease renewals.

Dispute Resolution and Litigation

While preventing legal disputes is ideal, they can still occur. We can help our clients explore alternative methods to settle disputes efficiently and cost-effectively, preserving your business relationships.

In situations where litigation becomes necessary, West Perth Legal work with skilled barristers who will represent you in court, advocating for your interests. The team will manage all legal proceedings, from drafting legal documents to presenting your case, allowing you to focus on running your business with the confidence that your legal matters are in capable hands.

Free 15-Minute Initial Phone Consultation

If you are not sure how our commercial lawyer can help you, West Perth Legal offers a free 15-minute initial phone consultation. This is a confidential discussion between you and our commercial lawyer where we can assess your needs and how we can help. Our legal fees are often fixed for a particular scope of work, giving business owners price certainty.

We regularly work with local businesses on an ongoing basis, helping them with a range of legal needs as they arise. Our lawyers are responsive, and client focused. Partnering with West Perth Legal will allow you to navigate the complex legal landscape with confidence, safeguard your business interests, and focus on what you do best – running a thriving business.

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