Commercial solicitors assist individuals, companies and small businesses with their business legal needs. What differentiates a commercial solicitor from other kinds of solicitors? Commercial solicitors have extensive experience and knowledge in business and commercial law.
A commercial solicitor can advise businesses of their legal rights, responsibilities, and obligations regarding laws and regulations governing commercial transactions and business practices. They can also help draft, negotiate, and review commercial legal agreements between parties. This article explores how a commercial solicitor can assist your business.
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Why Do I Need a Commercial Solicitor?
When operating a business, you may need quick and accurate legal advice before making a business decision or entering into a deal. For this reason, you will need to speak with a solicitor who is experienced in business and commercial law to give you advice on your immediate and long-term needs within a short time frame.
Additionally, commercial solicitors will have practical experience in their areas of law. Accordingly, they will have knowledge that other lawyers (who may have simply studied legislation and precedents) will not be aware of.
What Documents Can a Commercial Solicitor Help Me With?
Commercial solicitors can assist you with drafting and reviewing almost any legal document, including:
- privacy policies;
- confidentiality agreements;
- service agreements;
- independent contractor agreements;
- sale of goods terms and conditions;
- website terms of use;
- SaaS agreements;
- manufacturing agreements;
- supply of goods and distribution agreements;
- IP licence agreements;
- marketplace agreements;
- reseller agreements;
- referral agreements, and more.
Commercial and corporate law can often overlap, although a corporate lawyer will usually focus on the areas of corporate governance, company structure, and corporate regulation.
Continue reading this article below the formKey Issues a Commercial Solicitor Will Look Out for in a Contract
Commercial lawyers are trained to construct and dissect commercial contracts quickly and customise them to protect your business interests.
When negotiating a contract with another party, commercial lawyers will focus on the following key areas:
- identifying the parties involved;
- defining the scope and nature of the agreement, for example, the services and deliverables to be provided;
- payment terms and price, including what happens if payment is late;
- length of the contract term and whether it can be renewed or auto-renewed;
- confidentiality and privacy;
- intellectual property rights;
- warranties and representations, which refer to statements of fact or promises a party makes to the other;
- liability, including liability caps;
- indemnification for losses a party could suffer;
- dispute resolution;
- termination;
- how a contract can be amended or varied (otherwise known as a variation clause);
- compliance with laws and regulations, including making sure your contract does not have any unfair terms; and
- force majeure in the event extreme events occur that prevent parties from fulfilling their obligations.
Experience and Expertise of a Commercial Solicitor
Commercial solicitors tend to have a broad range of experience across various legal areas and industry sectors, including:
| IT | Advising on software licensing agreements, technology procurement contracts, data security, and compliance with digital law. |
| E-Commerce | Assisting with online business regulations, electronic transaction agreements, consumer protection online, and digital marketing laws. |
| Intellectual Property | Protecting, managing, and enforcing intellectual property rights, such as trademarks, copyrights, and designs. |
| Construction | Providing advice on construction contracts and regulatory compliance. |
| Aged Care and NDIS | Navigating the complex regulatory framework governing aged care facilities and disability service providers, including compliance, accreditation, and funding agreements. |
| Real Estate and PropTech | Covering a range of property transactions, development projects, and emerging property technologies (PropTech), focusing on innovation in real estate markets. |
| Manufacturing and Distribution | Addressing contracts for supply chain management, logistics, product liability, quality control, and domestic and international distribution agreements. |
| FinTech | Providing guidance on the regulatory aspects of financial technology services, including payment systems, cryptocurrency, digital banking, and securities. |
| Medical Regulation | Advising on compliance with healthcare laws, protection of patient data, and pharmaceutical regulations. |
| Consumer Law | Advising on consumer rights, ensuring fair trading, product safety, advertising compliance, and managing consumer disputes. |
| Privacy and Data Protection | Assisting with the development of privacy policies, compliance with data protection laws, and advising on data breaches and their remediation. |
Key Takeaways
If you operate a business or are looking to operate one, it is a good idea to seek the assistance of a commercial solicitor. Setting up and running a business can be costly, and business owners are often reluctant to spare extra funds to speak with a solicitor. However, seeking legal advice concerning business and commercial issues affecting your business should be done as early as possible to minimise any further complications or costly disputes that may arise in the future.
For more information or legal assistance, our experienced business lawyers can assist as part of our LegalVision membership. For a low monthly fee, you will have unlimited access to lawyers who can answer your questions and draft and review your documents. Call us today on 1300 544 755 or visit our membership page.
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