Knowing the difference can help you find the right legal professional
Getting the right legal support isn’t always easy. Your current situation may call for a legal professional with more than one area of expertise. If you’re ready to engage with a legal professional you should already know what area/s of law your case is related to. Time and time again we have clients reach out to us who don’t know where to start. They don’t know what area of law their current legal issue is related to. Their case could fall into the category of Corporate, Commercial, or even Property Law.
Not everyone is so well versed in the legal system. It’s why you should always trust your local legal professional when it comes to asking for legal advice. Approach a Lawyer that specialises in the wrong area of law and at least they can refer you to a more qualified legal expert for your case. That’s why there’s no harm in reaching out for legal advice. When you find the right Lawyer for your case, you can rest assured they have spent countless hours studying and practising in this area of law.
To help you find the right legal professional, we’re breaking down the main differences between Corporate and Commercial Law. These are two of the most common practice areas in law today. Both are concerned with business operations. But there is still a way to make a clear distinction between the two. This knowledge will help you get the right legal advice sooner.
What is Corporate Law?
Corporate Law mainly deals with the conduct, relations, and rights of businesses. It deals with how companies are governed and the structures they use to function on a daily basis. A Corporate or Business Lawyer will have highly specialised knowledge on these topics.
Corporate Law issues are generally associated with the launch, growth or maturity of a business. The decline of a business is another big catalyst for Corporate Law issues. All of these phases have the potential to create significant changes for a business’s operations and landscape. Adapting to these changes can be very difficult for a business. Here are some of the activities a business will engage in which can lead to a legal issue:
- Acquisitions
- Corporate restructuring
- Litigation
- Mergers
Corporate law example
Taylor is keen to set up a business partnership between himself and two friends. They aim is to pool their capital and launch a protein supplement powder. This product will be sold by private vendors and gyms. Taylor wants more clarity around how his partners will operate in this newly established business. In this scenario, a Corporate Lawyer can assist Taylor in creating a partnership agreement. The details covered in this agreement will give Taylor more certainty with this issue of business operations. This agreement will also help all business owners resolve any future disputes.
Commercial Law
Commercial Law is more concerned with matters relating to commercial activities that your business engages in. Most of these activities are transactional in nature. That’s why a great deal of work carried out by a Commercial Lawyer is related to work contracts or the transfer of property. There is a wide range of commercial activities covered by commercial law.
An experienced and qualified Commercial Lawyer should be able to assist you with the following topics:
- Consumer law
- Contract law
- International trade law
- Labour law
- Property law
Commercial law example
Betty owns a local bakery and needs some legal work done. She’s looking to hire two casual employees but doesn’t have current employment contracts to hire people with. Betty has also developed a unique bread recipe that uses kangaroo grass flour. She wants to get a patent for her bread recipe because she’s looking to sell it separately. She’s concerned that others may try to copy her recipe. A Commercial Lawyer can assist Betty with developing an employment contract and a patent for her bread.
So what are the main differences?
Here’s the simplest way to explain the differences between the two areas of law. Corporate Law has more to do with the governance and regulation of businesses. Commercial Law deals with matters that arise from transactions and commercial trading. Reach out to a Commercial Lawyer or Business Lawyer in Melbourne and they will be able to assist you with these areas of law.
Ready for legal assistance? Maybe you just need some general legal advice when it comes to Corporate and Commercial Law . Here at P&B Law, our Lawyers can assist you with both areas. Our experienced Lawyers have assisted clients with business sales and acquisitions, employment agreements, and establishing terms of trade. Our Law firm has many other areas of expertise outside of Corporate and Commercial Law including Litigation, Wills and Estates, and Property and Conveyancing.
Get in touch with a corporate and commercial law expert. Contact P&B Law today.