What is Commercial Law?
Commercial law, also known as business law, is a set of legal rules that applies to the legal rights, relations, transactions, deeds, and acts of person and business engaged in commerce, merchandising, trade, and sales. Commercial law often touches many areas of law, making it a highly varied legal arena. It is considered a branch of civil law and deals with private law and public law issues. The legal entities who are experts in all types of company and business laws are commercial lawyers. They assist companies in various transactions stemming from business operations.
The clients of commercial lawyers are usually corporations, big firms, or traders. Commercial lawyers’ work involves
- Advising their commercial clients on the best trade endeavors,
- Negotiations and contract signing,
- Assisting with commercial business’s daily operation, and
- Advising on new products.
Commercial attorneys help work on a wide range of commercial agreements dealing with the manufacture, sale, supply, and distribution of goods and services and identify and establish the best routes to market.
To be an efficient commercial lawyer, the lawyer must have knowledge of contract law, consumer law,accounting, closely held corporations, partnerships, fiduciary duties, freeze outs, , intellectual property rights laws, licensing laws, zoning laws, and the laws specific to the corporations’ business that they are representing.
What do Commercial Lawyers Do?
In order to stay on the right side of the law and avoid any future disputes, many corporate firms hire commercial lawyers to represent their companies in various business transactions. Many of the duties of commercial lawyers revolve around contract drafting and analyzing the terms of agreements. Various contracts include:
- Creating nondisclosure agreements.
- Changing conditions in arrangements with other companies.
- Examining legal documents for loopholes.
Some documentation or paperwork that a commercial lawyer administers includes
- Hiring of employees,
- Contracts for when employees are fired,
- Business merger contracts,
- Dissolve a partnership or the company itself,
- Acquire a new project or organization,
- Negotiate for the ownership,
- Change the structure of the company’s internal processes and even negotiate with other lawyers if necessary.
Other duties and responsibilities involve filing motions in the courtroom and seeking action through litigation when the client’s company interest has been harmed. Most of the lawsuits are against other corporations that have caused economic or financial damage to their client’s organization. A commercial lawyer’s primary goal is to assist in all business arrangements
PRO TIP: It takes years of practice and experience to represent a company’s interest in the best possible way.
How does Sudbury and Andover Commercial Lawyers help your business organizaion?
There has been a constant rise in business in Andover, MA and Sudbury, MA. To represent their interest, it’s important for them to acquire the services of professional commercial lawyers in Andover, MA and Sudbury, MA. Denn Law Group has skilled Andover and Sudbury commercial lawyers, representing corporations in business agreements, transactions and disputes. Mr. Edward Denn of Denn Law Group is a committed and trustworthy Andover and Sudbury commercial lawyer who understands his client’s needs and works towards their best interest.
Read more about United States Commercial Laws from Wikipedia here. https://en.wikipedia.org/wiki/Commercial_law