Commercial Lawyers
What Are Commercial Lawyers?
Commercial lawyers primarily handle commercial and business legal issues. A commercial lawyer would most likely be hired by a business owner or manager to assist in business transactions. Commercial lawyers are most commonly experienced in:
- Creating and maintaining effective documentation and paperwork;
- Business financial matters;
- Legal and economic disputes;
- Litigation;
- Contract drafting;
- Mergers and acquisitions;
- Employee agreements;
- Negotiations; and
- Various other business issues requiring motions, actions, and other issues with the court.
Commercial lawyers have the responsibility and obligation to assist with business transactions in order to ensure that all dealings are valid and legal. The majority of a commercial lawyer’s duties to their client will be primarily concerned with contracting drafting, as well as analyzing the terms included in any sort of agreement. Examples of this could include:
- Creating nondisclosure agreements;
- Examining legal documents for any potential loopholes that could be exploited; and
- Editing conditions included in contracts with other companies.
What Is Commercial Law?
The term commercial law refers to a body of law responsible for the regulation of the conduct of:
- People,
- Merchants, and
- Businesses,
who are engaged in:
- Trade,
- Sales, and
- Commerce.
Also known as business law, commercial law is a broad area of law that intersects with several other areas of law. Some examples include:
- Environmental regulation;
- Real estate; and
- Food and food safety laws.
Some of the main branches of commercial law are consumer protection, contract laws, and intellectual property laws. Such laws vary by state and will determine everything concerning a business. This includes how the business is created, taxed, dissolved, acquired, and/or sold.
Commercial or business laws can also vary depending on whether the business is private or public, or for-profit or not-for-profit. Many lawsuits against businesses often result from the failure to adhere to these laws. These laws can be federal and generally govern disclosures and securities, or they may be local and state-based.
Businesses may be subject to any laws that are related to:
- Employment;
- Insurance;
- Intellectual property;
- Immigration;
- Environment;
- Taxes; and
- Other matters depending on the industry and location.
If a business provides goods or services in multiple states, it may also be subject to laws in all of the states in which business is being conducted.
What Issues Do Commercial Lawyers Handle?
Commercial and business laws are associated with some distinct legal issues. Contract violations form a large part of most commercial law legal issues. Transactions between businesses and with customers typically involve some sort of contract, and legal issues can frequently arise in connection with the terms of those contracts. Specifically, a breach of contract can cause significant losses and other issues for either party.
In addition to contract issues, some examples of common issues that commercial lawyers handle include:
- Advertising and marketing disputes;
- Advertising and marketing violations;
- Unfair competition issues;
- Starting a new business;
- Transferring or terminating an existing business;
- Consumer complaints; and
- Protection of intellectual property and trade secrets.
As previously discussed, commercial disputes can often involve a mixture of different laws in other areas, such as environmental law or real estate law. Commercial law disputes can also involve a number of options in terms of dispute resolution. Depending on the type of violation or conflict involved, commercial law disputes can involve remedies such as:
- Monetary damages for losses;
- Breach of contract remedies, such as contract rescission;
- Equitable remedies, such as an injunction; and/or
- Business mediation, or some other alternative dispute resolution method.
Available remedies can vary depending on whether the liable party is a commercial merchant. or an average citizen. Additionally, some commercial law disputes require a class action lawsuit if many people have been affected by the same issue. In the case of a class action lawsuit, it is important to determine whether you are eligible to join the class action.
Typically, the lawyer leading the class action lawsuit will reach out to consumers that may have been affected by a commercial product and ask them to join the class action lawsuit. If you receive documentation requesting you provide information regarding a class action lawsuit, it is important to first verify whether the request is legitimate by contacting the requestor, as well as the court in which the lawsuit is filed. It is important to do so in order to ensure that you are not providing your information to a scammer.
Should You Hire a Commercial Law Lawyer For Your Legal Issue?
If you are a business owner, or would like to be, you should consult with a commercial law lawyer in your area. An experienced and local commercial law lawyer will be knowledgeable of local laws that could affect your business, as well as any federal laws that will apply.
Additionally, a commercial lawyer can also ensure that your business is started on the right foot and all necessary documentation is created in a legally enforceable manner. Finally, a lawyer can also represent you in court, should any disputes result in legal action.
