·  Legal News, Analysis, & Commentary


Why Every Large Business Needs a Commercial Lawyer

— July 22, 2022

Whether you have a litigation problem or want to make sure you’re making the most well-informed decisions, you might see the value in having commercial attorneys in your corner.

Large corporations, banks, insurance companies, and other organizations can find themselves managing significant commercial transactions and business decisions daily. Some of these can be so complex and intertwined with the law that they require outside expert assistance. 

Building a close relationship with commercial lawyers might be how you ensure you’re legally compliant while putting your business’s interests first with every decision you make. If you’re not yet convinced that a business lawyer is a valuable contact to have, take note of the following information. 

They Can Provide Agreement and Contract Assistance

You might be on the phone with commercial lawyers in Mississauga sooner than you think when you realize they can be a valuable source of information and support for creating agreements and contracts. 

Whether you’re welcoming a new employee to your team, outsourcing work to a contractor, or aligning yourself with a new client, commercial lawyers can ensure that any documents you or they compile cover all relevant and essential information. 

Commercial lawyers understand business laws you must abide by and are also well versed in clauses and statements that benefit your corporation. Without their help, you might be at risk of having an agreement or contract that negatively affects your company in the future. 

They Can Assist With Your Legal Structure

Your business structure ultimately impacts everything from your tax obligations to daily operations, personal asset risk, and everything in between, and there may come a time when your business no longer fits into its current legal structure as defined by the IRS. 

With the help of a commercial lawyer, you can review the most common business structures and ensure the one you have or will have will suit your needs the best. For example, you might become a cooperative, which is owned and run for the benefit of those who rely on its services. 

Alternatively, your business might be a close corporation run by a group of shareholders or a for-profit corporation described as a benefit corporation. Several other legal business structures are also worth considering, such as S corps, C corps, limited liability companies, and partnerships. 

They Might Help You Avoid Legal Mistakes

You might be a savvy business owner who understands everything there is to know about your unique business model, but that doesn’t mean you’re incapable of making mistakes. Minute details can fall through the cracks, and it can sometimes be these minor details that cause problems for your company in the future.  Lawyers can run through your business operations with a fine-tooth comb and ensure everything from tax matters to employment contracts are air-tight and as risk-free as possible. 

They Can Solve General Business Problems

You won’t always be able to solve every business problem independently, especially when they involve your employees, clients, and reputation. Whenever you have an issue that could significantly impact your business, you can rely on a commercial lawyer to advise on the best course of action. If you don’t, you might end up making decisions without the necessary experience and qualifications to know whether they’re the right ones to be making.   

You Can Receive Fast Help for Lawsuits

It’s easy to assume that your company will never have to worry about lawsuits, but it can be more of a reality than you think. According to the SBA Office of Advocacy, up to 53% of small businesses are involved in litigation each year. No matter the size of your business, you’re not exempt from litigation issues relating to employee complaints, business-specific claims, and customer satisfaction. 

By aligning yourself with a commercial lawyer, you have someone you trust to call upon when you find yourself in such a predicament. They can promptly review the facts of the case and represent your best interests. 

Rely On Them for Real Estate Transaction Assistance

Business meeting; image by Rawpixel, via
Business meeting; image by Rawpixel, via

Many businesses enter into real estate agreements to lease, buy or sell business premises. While you might understand what you hope to get from the deal, that doesn’t mean you’ll always have a firm understanding of the documents you’re signing. 

When the time comes to make a significant real estate decision, consider aligning yourself with a commercial lawyer. They can read through contracts, negotiate on your behalf, and ensure that any deal you make has your best interests to the fore. 

It’s easy to assume that you can manage every corporation-related decision in-house, especially when you believe you understand how your business works better than most. However, there’s rarely any harm in having experts weigh in on those more important matters. Whether you have a litigation problem or want to make sure you’re making the most well-informed decisions, you might see the value in having commercial attorneys in your corner.

Join the conversation!