When Do I Need A Commercial Lawyer For My Business? – The Law Talk
 

When Do I Need A Commercial Lawyer For My Business?

| Posted in Criminal Law

The market dynamics keep changing at a fast pace for all business organizations and as such, businesses must adapt to the markets with purpose and speed. The implementation of market-driven changes would obviously require thoughtful planning, extensive knowledge of the commercial legal requirements, the risks, and the expertise involving the creation and management of new organizational structures. Thankfully, you can rely on the expertise of skilled commercial lawyers who have experience in diverse areas of corporate and commercial law. This is essential, as it determines how fast and successful your business establishment adapts and evolves. In any case, reputable Winnipeg lawyers are committed to helping your business succeed.

Corporate Governance

While a vast majority of corporations use lawyers to help them maneuver the incorporation process, new businesses at times neglect on-going legal requirements that help maintain their status as a corporation. Annual shareholder, partner, and director meetings must be held on schedule and the election of corporate officers must conform to the relevant requirements. Failure to comply with the incorporation laws could easily jeopardize the corporate status. Whenever corporate officers are exposed to legal issues or personal liability, the experience of Winnipeg lawyers will come in handy.

Exit Strategies

Entrepreneurs are always focused on setting up a new business without ever considering what actually happens when a principal leaves. When any of the major shareholders or partners decide to exit suddenly, the operations of the business could potentially be threatened. Closely held corporations must have buy-back or buy-sell agreements. This ensures the major shareholders or partners can sell their shares without placing an unnecessary financial burden on the corporation or experiencing legal entanglements. Fortunately, businesses and corporations can prevent problems and enjoy protection from potential trouble by working closely with commercial lawyers in the early stages of incorporation.

Intellectual Property

It is imperative that you put in measures to protect most of the intangible assets of your business. These include the company name, brand name, logo, services, and distinctive goods, which all require copyright protection. Computer software, vessel hull designs, semiconductor chip designs, and other creations are entitled to trademark registration. While it is often assumed that patents protect only machines and manufactured products, they can also cover processes like chemical mixtures, chemical compounds, and new composition of matter. The guidance provided by a good commercial lawyer with experience in copyright, patent, and trademark registrations will always come in handy. Note that the registration of intellectual property can help your business gain a competitive edge in the market.

Most lawyers charge a one-time flat fee for routine matters like forming a corporation. Even so, it is highly unlikely that lawyers will volunteer to charge a flat rate unless you make the request. Get clarification on whether the fee includes disbursements, such as overnight courier charges and filing fees. In addition, you should find out when the payment is expected. Most attorneys require an upfront payment, especially when the payment terms are on a flat fee basis because this enables them to cover out-of-pocket expenses.

When you want to establish a sole proprietorship, a partnership, or a limited liability company, you can rely on commercial lawyers who will help smooth the process. Let Winnipeg lawyers handle any questions you might have concerning commercial and corporate law. With the guidance of competent Winnipeg lawyers, you get the opportunity to grow your business establishment in ways that will benefit you, the shareholders, and your clients, as well. With the right commercial lawyers, you can put the objectivity, resourcefulness, and experience of these professionals to work for you, thereby enabling you to enjoy business prosperity.


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