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Starting a small business comes with significant responsibilities. Although it is an exciting and rewarding experience, you need to consider various factors and be aware of all legal requirements to get set up and operate in accordance with industry standards.
Minor errors made by small businesses can have great repercussions, so it is best to engage the knowledge and skill of a commercial lawyer, as early on as possible. From advising on the most appropriate company structure to drafting employee agreements, the role of a commercial lawyer is fundamental in covering all aspects of setup and operations.
Here are a few things to consider when selecting a commercial lawyer for your small business:
Experience
Experience is not only limited to the amount of years they’ve been practising law, but also, how familiar they are with business law and the requirements to ensure a smooth setup. Regulations can be everchanging, so an experienced commercial lawyer must be well equipped with insights into industry, consumer, employee law and more. If for instance you are considering franchising, choosing a commercial lawyer who is knowledgeable in this area would be advantageous.
Credibility
Trust and integrity are but two of many characteristics to look out for when searching for the right commercial lawyer. At this delicate stage of business establishment, looking out for these traits will ensure you, as a business owner, are confident in your decision. Trust then builds the basis for all future legal assistance, and should not be negotiable.
Transparency
By engaging a commercial lawyer, their intention is to represent you in the best interest of your business and yourself, while also taking the guesswork out while you continue to focus on your core capabilities. In saying this, it is vital that you are kept in the loop at all times, so open communication should be common practice. The nature of your business and your requirements may be complex and ever-changing, but a commercial lawyer will speak a universal language and simplify the explanation of processes and procedures to the best of their ability.
At Prominent Lawyers, our team of best lawyers in Sydney can assist in a broad range of legal business matters; including but not limited to:
Contact us to find out more about how we can help with your business dealings.
