"Law
is nothing else but the best reason of wise men applied for ages to the
transactions and business of mankind." - Abraham Lincoln
A
commercial deals with issues pertaining to business management and transactions.
They often practice in law firms on behalf of multiple clients of the firm's
commercial transactions department. Some commercial lawyers work for a single
corporation and are known as in-house attorneys/counsel. They also might be
employed by the government or international agencies. In these positions, they
review international business transactions or negotiate trade, employment and
other agreements.
A Commercial attorney’s daily tasks
depend on his client’s needs and whether he is specialized in a particular area
of law, but he could be doing some or all of the following:
·
Negotiating (not all cases will end up in court)
·
Explaining the law and giving general legal advice
·
Settling disputes and supervising any agreements
·
Researching and gathering evidence
·
Analyzing legal documents
·
Supervising legal assistants
The career of a
commercial lawyer is versatile. It involves reviewing and drafting contracts,
business disputes, breach of contract, buying and selling of businesses, business
management of Corporations, LLCs, Partnerships, etc and last but not the least,
Entertainment law.
Reviewing and
drafting contracts- In order to make the terms of
contract clear to both the parties from the beginning, it is vital to draft and
review the contracts properly. An experienced commercial lawyer can provide
useful guidance while drafting contracts and will help you in determining
whether accepting a contract is in your best interest. But the main goal in
drafting a winner contract agreement document is to avoid all kinds of future
disputes.
Disputes- Business disputes arise mostly when there is a disagreement between
parties regarding the terms of a contract, or sometimes due to issues
pertaining to billing, business practices or other issues.
Merger and
acquisition of businesses- The process of merger or
acquisition of businesses can be very complex and drawn-out, but the rewards at
its end are worth it. Purchasing an existing business means purchasing a
pre-existing client base, staff, patents and much more. It is the job of your
commercial lawyer to make sure you get the best deal.
Business
management Corporations, LLCs and Partnership firms-
Corporations, LLCs, Partnerships all have different kinds of management forms.
A commercial lawyer has the knowledge of working or each of these organizations
as they are all clients for him. Sometimes he deals with the senior business
executive (such as the CEO of a company) or sometimes he does overflow work of
the general counsel of a largish corporation. Either way, it is his duty to
come up with ways in which his clients will benefit the most in each
transaction.
Intellectual Property Laws-Intellectual
property law blends with entertainment and media law and covers trademarks,
copyrights, and it is the job of the commercial lawyer to be well versed with
these laws as they often form a part of contract deeds.
Representing
a client and advising them on their legal situation is what a lawyer does on a
daily basis. From individual cases to whole companies, from court proceedings
to disputes behind closed doors, it’s his job to act in his client's best
interest. It is ultimately the clients who make the intelligent decisions; it
is however, our work as commercial lawyers to make sure that the clients makes
an informed decision.
No comments:
Post a Comment