What Do Company and Commercial Law Involve?
Company and commercial law deals with both private and public law. Specific laws have been developed for various fields of commerce such as resolution of disputes, competition law, company law, sales, mergers, acquisition, intellectual property laws, etc.
What do company and commercial law involve?
It deals with the legal aspects of:
- Mergers and acquisitions
- Purchase and sales
- Due diligence in joint ventures and land buy outs.
- Employment matters and drawing up employment contracts
- Drafting confidentiality agreements
- Commercial litigation to resolve disputes
- Shareholders agreements
- Buying and selling businesses
- Commercial agreements (supply, distribution, franchise, etc)
- Taxation strategies
Who should be aware of these laws?
Entrepreneurs who are just starting their business and wish to deal with multinational companies need to know these laws. But whilst running a full time business it is going to be really difficult to handle the legal issues as well. This is where the commercial lawyers come into picture. The lawyers will help you understand the complexities and take care of the legal arena for you.
The role of commercial lawyers is to assist you in legal issues relating to e-commerce, information technology, data protection, employment law, intellectual property law and contracts.
Business start-up and laws
When you are starting a business from scratch, you can have a sole-tradership, partnership, a company with employees or a limited liability partnership. Your lawyer will brief you at every step, giving you the pros and cons of each type of business. After you have decided on which type of company to start, the lawyers will help you register it.
Contracts, employees and data protection laws
Once a business has been started, you need a proper employment contract for your employees to sign upon. An experienced attorney can very well do it with their level of expertise.
He or she will also help you with familiarizing with laws pertaining to employees, their pays and compensations. The idea here is to make certain that there no ways for unnecessary compensation claims, have a thorough knowledge of hiring, dismissing and redundancy policies and laws. The employment contract needs to be rocks solid and the policies of the company equally foolproof.
Once that has been done, your data is now floating with the employees and that needs to be protected. The attorney will brief you on what happens if any employee breaks that law.
If the company is facing litigation of any kind, then again a company solicitor with specialization in commercial law will help you pull through the mess.
Company and partnership law
Whenever there are partnerships involved in a company the lawyers will draw your attention to 2 factors: The liability and the administration. The laws deal will the risk and benefits that are associated with having partners, shareholders and directors. The company law deals exclusively with these elements of business law.
Hence we can conclude that business and law are inter-twined.
