Safeguard your business with services from the right legal professionals.
It’s a common fact that most new businesses fail after the first year. With that being said there are plenty of ways to safeguard your business and prevent it from suffering the same fate. Having the right advice and the right people behind you can certainly help. You can hire professionals that are good with numbers and business managers that know how to create workflows.
One professional that many business owners tend to overlook is a Commercial Lawyer. These legal professionals can guide you through many tasks such as drafting client agreements and employment agreements and establishing intellectual property. With the right knowledge and advice, a Commercial Lawyer can help your business in many ways.
Commercial Lawyers have the legal knowledge and background to help you navigate through legal processes which could harm your business in the long run. When a client agreement isn’t drafted correctly, your business could stand to lose millions if a client takes advantage of a flaw in the documentation. A Commercial Lawyer can also help you protect your business’s intellectual property so you can continue to use it when it generates more value.
So hiring a Commercial Lawyer can be a great way to protect your business. Having the right legal documentation in place is a great way to protect your assets. Solid legal documentation can ensure your business doesn’t have any vulnerabilities that could be taken advantage of by other businesses and clients.
Starting your business
Some of the most important legal decisions about your business are made when it’s first established. A perfect example is a small business owner who wants to protect themselves from personal liability. A Commercial Lawyer can suggest ways in which the business can be structured to limit the risk of personal liability.
When a commercial Lawyer assists with the process of incorporation, a business owner can be assured that their business has a strong legal foundation to lean on. The business will be structured in a way that safeguards it from future issues with liability.
Intellectual property
If you’re the owner of a tech startup it’s crucial that you protect any intellectual property from the very beginning. It’s this intellectual property that’s probably helped launch your business in the first place. So it’s best that you have a strategy in place for protecting your intellectual property at all costs.
Your business’s intellectual property can include the business name, logo, and brand name. Intangible assets including software, blueprints, and product designs can also be protected. A Commercial Lawyer can assist you in getting patent protection for your unique products. They can also assist you in acquiring copyright, patent, and trademark registrations necessary for protecting aspects of your business.
Drafting non-disclosure agreements
When you first establish your business, you may enter into agreements with other parties such as clients and suppliers. As a business owner, it should be within your best interest to protect business ideas and trade secrets that have helped your business thrive.
A good Commercial Lawyer can help you protect these items of your business. Commercial Lawyers can do this by drafting up non-disclosure agreements. These documents will protect your company’s information and help prevent them from being stolen or used by other companies. It gives you the peace of mind you need to continue expanding your business without having to worry about theft.
Drafting employment agreements
While your business only starts out with one person it doesn’t take long until you may need to expand operations with multiple personnel. For additional employees, you’ll need to start drafting employment agreements and contracts that cater to a permanent position or a specific amount of time such as six months.
A Commercial Lawyer can make sure these employment agreements are drafted in a way that aims to protect your company’s assets. Non-compete agreements within the employment agreement will ensure that any new employees cannot enter into competition with your business during or after employment.
Defamation cases
A good reputation is essential for a business to thrive. Word of mouth can help make your business get discovered by new people looking for your particular product or service. But what happens when negative reviews start coming in? Regardless of whether they’re true or not, your business needs to act swiftly to remove them and prevent further damage to its reputation.
A Commercial Lawyer can assist you in handling negative reviews. They can help you get a court order to take down defamatory online posts. A cease and desist order can also be sent to the culprit of the online reviews to immediately address the matter.
Developing an exit strategy
Just because a business has multiple owners it doesn’t mean that all of them will want to be invested in it forever. It’s for this reason that it’s important to develop an exit strategy for any owner or shareholder of the business. A Commercial Lawyer can assist you with this entire process.
When a business partner or major shareholder decides to leave, your business may want to resume operating without them. In this scenario, the remaining partners or shareholders may want to buy the party’s share of the business back.
A Commercial Lawyer can draft up the necessary documentation to ensure everyone in the business is clear of how to go about this transition of shares and ownership. There’s less chance of legal issues arising from a move like this when everyone is already in agreeance of how an exit strategy should be executed.
Request the services of a qualified and experienced Commercial Lawyer today by contacting the legal team at P&B Lawyers.