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.
- 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.
- 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.
- 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.
- 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.
- Legal issues for online businesses
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.