Paine Edmonds LLP - Blog
How a Corporate Lawyer Can Assist You With Your Business?
If you plan to open or purchase a business or if your existing business is expanding, hiring a corporate lawyer can serve a variety of functions and purposes.
Below are some of the ways in which a corporate lawyer can help you and your business.
Navigating Complex Regulations
Depending on the nature of your business and the industry, different legislation and regulations will apply. For example, operating in a business that involves loaning money or providing financial services entails different rules and regulations than operating a fashion retail store. Also, if your
company operates from a physical office, the type of insurance you need will differ from a company that operates only online. It is important to know which laws and risk types are relevant to your business so you can take necessary precautions before any issues may arise.
A corporate lawyer in Vancouver will help you ensure that you have considered all regulations that apply to your company and help you assess whether your business model is viable in the context of the regulations that must be followed. If your business is subject to highly complex regulatory schemes or requires specific licensing, your business lawyer may also be able to recommend other specialist lawyers or professionals who you should speak to.
Choosing the Appropriate Organizational Model
Depending on the type of business you run, you may opt to create a limited partnership, a limited liability partnership, a professional corporation, or incorporation. It would be prudent to seek the advice of a business lawyer in Vancouver when determining how best to structure your business. These decisions will be based on many considerations, including the industry, whether you hire employees or contractors, the size and growth potential on your business, and the risk of liability.
Structuring and Reviewing Contracts
Every business provides a good or service and each time a sale is made, your company enters into a contract. You will want to ensure that you protect against clients taking advantage of your business (e.g., that refund or service cancellation policies protect your interests). In the case of a service agreement, you will want to ensure that the services you are providing are clearly outlined.
Your company will also likely need to enter into contracts for the purpose of operating the business. Contracts may be needed in hiring staff, setting up various types of technology agreements (internet, telephone, software-as-a-service), delivery and courier agreements, supplier agreements, etc.
A corporate lawyer can help structure the contracts you need to ensure they serve your business goals. The legal effect of particular paragraphs, words and phrases can be very important to protect the company in the event of a dispute. Sentences and phrases can easily be ambiguous, or carry two meanings, unless carefully drafted. Terms must be defined. Your lawyer can also help ensure that the contract reads clearly and will be able to advise you on the legal implications of all terms.
Mergers, Acquisitions, Financing and Banking
As your business evolves, you may begin to consider merging with another company, or selling the business completely. A corporate lawyer you will want to hire can help conduct all the due diligence required to protect your business’s interest when you decide to merge with another company, or sell.
Depending on the size and scope of your business, you may need to take out a business loan or enter into another financing agreement and you may need advice on the legal implications of such agreements.
It may also be important that you protect your company’s intellectual property rights. If your company has created a new product, whether an app for smartphones or an original design for a piece of athletic clothing, your corporate lawyer can advise you on how to either take out a patent or the steps necessary to legally protect trade secrets and proprietary information. Further, your lawyer will help advise you on how to protect logos or slogans that you may wish to trademark.
When You Need to Litigate
A business lawyer in Vancouver can provide an opinion on the best steps to take if a dispute arises out of the terms of a contract, a subcontractor’s fulfillment of agreed services, or an employment relationship gone wrong. Some business lawyers have litigation experience, and will be able to assist if a small dispute escalates and cannot be resolved. However, even a business lawyer who is not a litigator will have a general sense of how to approach a situation of conflict and will likely be able to recommend a good litigation lawyer to handle your matter.
Speak to Paine Edmonds LLP for a Business Lawyer in Vancouver
If you need help setting up a new business or have simply recognized that your growing business needs better legal protection, our business lawyers in Vancouver can give you the advice you need. We have a business, property & estate law group dedicated to offering your business sound legal advice. We represent businesses of all sizes. Contact us at 604-683-1211.