Auckland Business Lawyer – Common Reasons To Talk To One
If you own a business, you will profit from the services of a commercial lawyer. It’s important to understand the distinction between commercial and corporate or company law. Lots of people are unaware of the distinction and may be confused. If you live in the city, you can get legal advice from an Auckland business lawyer.
The number of different laws relating to business life is vast, and it covers a variety of topics, including:
- Insolvency and Bankruptcy
- Contracts
- Terms of Trade
- Finance
- Sales and Acquisitions
- Anti-Money Laundering
- Incorporations
- Company Structure
- And many more.
Business owners cannot be expected to understand the implications of all of these varied laws so talking to an experienced Auckland business lawyer is a good idea. This can protect your business from a range of actions or potentials threats from suppliers, customers, and competitors.
What Is Commercial Law and How Does It Affect You?
Commercial law is concerned with resolving issues that arise during the normal operation of a business. They help with documentation, transactions, paperwork, and a variety of other tasks. Legal advice can be given on any aspect of a company’s operations. This is a field of law that thrives because of its strong ties to the economy, which has an effect on society overall.
What Are Some Examples Of The Work Of A Commercial Lawyer?
Commercial lawyers work with a variety of enterprises, including banks, and businesses, both small and large.
In a typical day a commercial lawyer might draft or read through contract. These could be for suppliers or customers. Review terms of trade, which is how a business operates with its customers, advise on company mergers, help a start-up company structure its ownership. A significant extra piece of work that arises from company structure, is Shareholder Agreements.
These lay out how directors will dispose of their shareholdings under different circumstances. For example, one of the owners may want to leave the business. Who can buy those shares and at what price? Another situation could be if a director goes through a divorce. What happens to their shareholding? These are key topics for a business lawyer to help their clients with.
When Would A Company Need To Hire An Auckland Business Lawyer?
Companies and its directors need to talk to business lawyers are any stage. Before they begin operations to establish the structure and ownership.
Writing contracts, and terms of trade.
Reviewing leases for premises the organisation might want to rent.
Employment contracts for staff.
Drafting customer guarantees.
All of these should be addressed before a company begins trading.
Subsequently, a business lawyer can advise on changes in taxation or employment law, chasing payment from customers, enforcing a contract with a supplier, or handling a staff grievance.
There are many reasons for an enterprise to hire an Auckland business lawyer. If your company is based in the Auckland CBD or close by, a law firm that you can consider contacting is McVeagh Fleming. They have an office in the middle of the CBD, near Queen St.
