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Commercial Law

 

Contract law is the basis of all commercial dealings, from buying a bus ticket to trading on the stock market. Before you enter into a contract, it’s essential to get professional legal advice. Whether you’re planning to go into business for yourself, set up a business with a partner, form a company or restructure your current company, Peninsula Law can assist you.

Whether you are involved in litigation, a building dispute, need council approval to develop a site or require advice on leases or tenancy agreements, let Peninsula Law look after your interests.

  • Buying and selling businesses
  • Retail, commercial, and industrial leasing
  • Franchising, liquor licensing & more

FAQs

 
What does a commercial lawyer do?

Commercial lawyers provide advice relating to commercial matters and deal with issues pertaining to business transactions. They may review paperwork relating to companies, partnerships or trusts, particularly contracts, and draft business documents. They also prepare due diligence reports.

The documents they prepare may be related to establishing or dissolving a business, merging two businesses, creating sales contracts, establishing non-compete clauses or changing a business's organizational structure. When necessary, commercial lawyers collaborate with their clients, other lawyers, accountants, or government agencies to prepare various types of documentation and paperwork, or complete transactions. They often engage in negotiations on behalf of their clients.

Why does a business need a commercial lawyer?

A commercial lawyer assists with the legal, financial, and commercial aspects of running a business and provides expert advice on a range of areas. Here are some of the circumstances in which you may need a commercial lawyer.

  1. Setting up a company

When starting a company there are a range of legal documents that you will need in place to ensure your compliance under the Corporations Act 2001 (Cth). Commercial lawyers can assist in reviewing and drafting company documents such as your company’s constitution, shareholders agreement and employment agreements.

  1. Reviewing a shareholder's agreement

A shareholder's agreement is an essential document for any new company. The document outlines the rights and responsibilities of shareholders and assists with the management of potential risks and disputes. It is vital to the success of your business that the agreement is reviewed by a lawyer. A commercial lawyer can review your shareholder agreement as well as help you determine the class of shares you will distribute to your members.

  1. Purchasing or selling a business

A commercial lawyer can assist in reviewing and drafting your business purchase or sale agreement. This is an essential document that stipulates the terms of the purchase or sale, and will ensure that the contract is favourable to all parties and will reduce any likelihood of conflict associated with the transaction.

  1. Purchasing, leasing or selling commercial property

If you are in the market to either purchase, lease or sell a business premises, it is always beneficial to consult with a commercial lawyer before signing an agreement. Depending on the nature of the lease, the agreement may run for many years, as a result you should be fully aware of the terms before signing the agreement.

  1. Legal issues for online businesses

With any online business it is essential to have in place legal documents such as a Privacy Policy and a Website Terms and Conditions of Use.

Specifically, a Privacy Policy is a document that states how your business will deal with the personal information it collects. A Privacy Policy covers how personal information is collected, what the personal information is used for, and how the personal information is stored and managed. You must use a Privacy Policy if your business or company collects personal information online or directly from your customers. A Privacy Policy is required by law if your business falls within one of the criteria set out in the Privacy Act 1988 (Cth).

Website Terms and Conditions of Use includes how users can use your website, what is prohibited and a disclaimer to limit your liability for your website. If you are selling goods and services on your website, you are required by Australian Consumer Law to state your business service standards and have terms and conditions on your website. This Website Terms and Conditions of Use also allows the operator to set out the rules for using their website, protect their intellectual property and limit their liability for the website.

Engaging a commercial lawyer will further ensure that your online business is legally compliant.

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