Creating, developing and managing a business is subject to many difficulties that can lead to litigation. An entrepreneur’s main fear is the unforeseen, the random variable that impedes their established business plan and cuts into their expected turnover. These situations manifest in different ways, such as a customer’s unpaid invoice, a supplier’s missed delivery, a commercial lease problem or the question of whether to incorporate.
These situations can be avoided or have their impacts diminished by obtaining a lawyer’s advice ahead of time. It is crucial for a company to have the support of a lawyer that specializes in commercial law at all times. A lawyer’s advice can be valuable, even indispensable, and will help entrepreneurs prevent many disputes. Moreover, the savings that result for the company are significant. Discover why it is beneficial and preferable for your company to be supported by a lawyer in commercial law.
A commercial lawyer helps avoid litigation or limit risk
Investing in a lawyer often seems expensive for entrepreneurs. However, many disputes can be avoided when making this business decision. Take a commercial lease contract as an example. In the majority of cases, the contract is submitted by the landlord for simple ratification. No clause is discussed or further analyzed and what the entrepreneur deems most important is the amount of rent and the length of the lease.
Nevertheless, many points of the lease are important such as the renewal (tacit or express), the term (fixed or indefinite), the party obligations (certain provisions of the Civil Code are residual and voluntary and can therefore be subject to contractual modifications) and the presence of a resolutive clause likely to lead to the extrajudicial termination of the commercial lease. The lease contract and all contracts in general, whether with distributors, suppliers or carriers, must be drafted, reviewed and analyzed by a lawyer in order to best protect your interests.
Beyond contracts, any writing that emanates from a company can have consequences. Certain sensitive emails may require a lawyer’s proofreading or approval. If this sounds surprising at first, remember that emails are often used as evidence in litigation. A court case is won on the evidence and it is better that the other party is not bolstered by emails sent from your business that hold you more accountable than you think. If you want to avoid endangering the growth and management of your business, you should be supported by a lawyer that specializes in commercial law. This will enable you to be better protected, avoid litigation or limit litigation risk by providing evidence, including a contract from a specialist.
A commercial lawyer provides informed and strategic advice
Contract drafting and litigation management aren’t the only reasons an entrepreneur should have a commercial lawyer. They should also hire a specialist to receive advice. Counsel is essential in daily business affairs. Many companies die out because they haven’t received counsel, either due to ignorance or a poor assessment of the value added by legal advice.
Sensible entrepreneurs surround themselves with an efficient team made up of members that are clearly qualified for the daily management and growth of the business. Strategy is at the heart of a company’s success and no strategy can be developed without a rigorous legal analysis.
Among the many questions an entrepreneur can have to justify seeking a commercial lawyer’s expertise is the question of incorporation. Do I have to incorporate? What are the benefits? The disadvantages? Is it better to create a partnership? What are the tax implications? Does it protect my personal wealth? Do I need a business partner if I incorporate? A commercial lawyer can help you and provide advice for these questions and more.
Essentially, this specialized lawyer will bring their expertise, indicate the best decisions to take for compliance with the law, protect your interests and grow your business. They can also indicate the strategy to implement to avoid turmoil. Counsel is a strategic plan that is essential to the good health of your business.
In this sense, a lawyer is a trusted partner that you can rely on. Many entrepreneurs regret not seeking legal counsel when creditors show up and their assets are being seized. How much would they have been willing to pay for this valuable counsel they neglected when the time came?
The commercial lawyer, an ally for your business
As you can see, benefitting from a commercial lawyer’s advice is an investment for your company and receiving counsel means being protected. Make the right choices to protect your interests today and don’t wait until it’s too late.
Do you want to be advised and supported in the creation, development and management of your company? Contact Bérard Avocat as soon as possible. As commercial law specialists, we will provide you with clear answers to all your questions.