May 23, 2018
For business owners, it’s important to get to grips with the world of commercial law as soon as possible in order to ensure that you and your assets are comprehensively covered in a legal sense, and that you can recognise potential issues that may arise, understand your responsibilities and know how to be vigilant when it comes to potential breaches thereof. Of course, looking at it from the outside, this field of law can appear fairly complex. However, the specialists at Prosperity Law are well versed in this particular area of legal expertise and have provided the guide below to assist those who are hoping to come to a better understanding of commercial law.
What is Meant By “Commercial Law”?
The simplest way to describe commercial law would be to say that it is a term that covers legal matters relating to businesses. It can be differentiated from the corporate law if one considers that commercial law tends to involve the integral details of a business’s working life, such as contractual and employment issues, intellectual property matters and the running of individual franchises. Corporate law, on the other hand, involves a more specific set of issues involving the company as a whole, including expansions, downsizing, acquisitions and mergers. However, both can prove relatively interchangeable depending on the matter at hand.
What is Included Under the Umbrella of Commercial Law?
A commercial legal specialist or firm should offer assistance, advice and representation in all areas from contract employement law to international trade and property law, to commercial property law, labour law, companies law, competition law, consumer protection, intellectual property, copyright, trademark and patent law and even environmental law. All of these areas these form subsections of the commercial law field. In practice, various legal firms may offer services that include overlapping areas of commercial and corporate law, so it is up to you and the team that manages your company to discover and discuss the particular specialisms of any potential legal advisor and decide whether they would be the best fit for you before you agree to take them on.
Why Do I Need Representation Within the Field of Commercial Law?
One of the very first steps you take as a business owner should be searching for the correct commercial legal representation. This should be undertaken as soon as your company starts its life. Avoiding this or putting it off can mean significant costs later down the line if your business is found liable for any particular incident for which you or your management team could be brought before a court. In this case, if you obtain legal assistance late in the day, you may find that you are not covered for expenses you may have already accrued. Having to arrange legal help at the last minute can also prove extremely stressful alongside your duties within the management of your business and any actions that you need to undertake related to the case – and, in fact, an advisor specialising in commercial law may have offered you valuable information that could have helped you to avoid the problem in the first place.
However diligent you are, there is always the potential for unexpected issues to arise – and, in that instance, it’s important for you to be well prepared.
How Do I Find Representation?
First and foremost, you need to make sure that the firm you select to represent you within the field of commercial law has an excellent track record of working with companies like yours. Upon meeting with each specialist, it’s important to be completely transparent about the workings of your company, its products or services, its staffing structure and any other matters that may be of value. The more your lawyer or solicitor knows, the more help they can offer you in a courtroom.
The team at Prosperity Law can look back at many years of specialism within both commercial and corporate law. Their offices are based in Manchester, Rochdale and Liverpool, so if you have any further enquiries about their services within the business sector or you’d like to find out a little more about what they can offer you, you can contact them directly on 0161 667 3697, 01706 659 666 or 0151 958 0057 respectively. Otherwise, feel free to email their central office today on firstname.lastname@example.org. Their specialists will be available to offer help and advice between 9 am and 5.30 pm from Monday to Friday. The firm has served high net worth clients and handled sensitive cases in the past, so discretion and utmost professionalism are guaranteed.