What does a Commercial Lawyer Do?

What does a Commercial Lawyer Do?

10-03-2020

If you need help with business and commercial legal matters, the best place to start your search is on the Internet. A commercial lawyer often handles mergers and acquisitions as well as debts from equity - among many other functions.

What is Commercial Law?

Commercial Law is a specialized area of law that handles legal issues of commercial transactions and situations that may occur in the course of running a business. This area of law’s main concerns is tort and contract law.

Large businesses, insurance companies, banks, and governments often seek the help of a commercial law firm. Simply search the Internet for a choice of such lawyers so that you can find what you consider to be the right one for the job. The Internet optimizes websites of commercial law firms (and law firms practicing other different fields of law) so they are easy to find on the Internet and there you will have quite a selection to choose from.

Commercial law is an important area of law specialization because it is associated with the economy – specifically how businesses are run and how it helps grow the economy. It also creates the rules for organizations and businesses making sure legal conduct is practiced at all times without any fraudulent activities.  

Any aspect of the law concerning companies, their activities, and their regulations will always require the services of commercial lawyers.

What Does a Commercial Lawyer Do?

Managers or owners of businesses are the ones who usually hire commercial lawyers. It is common for these businesses to find commercial lawyers on the Internet. So, it’s also important that the website of your law firm is so good and effective, that prospective clients can easily find you on the Internet.

Commercial lawyers are well-versed in financial matters, business transactions, litigations, legal and economic disputes, and various business-related legal issues.

Many commercial lawyers are affiliated with a law firm (whose website needs to be easily searchable on the Internet through search engine optimization (SEO). There are also some lawyers that are hired and work exclusively in the legal department of a company. A commercial lawyer must have a law degree and have passed the state bar exam where they practice.

Websites of commercial law firms require at least enhanced Internet visibility. The following list refers to the duties of a commercial lawyer:

• Drafts paperwork with legal information as well as terms and conditions for the company’s ventures, projects, employees and other similar concerns.

• Represents their client company in litigations concerning contractual terms.

• Handles company mergers and acquisitions

• Reads and revises contracts for the company.

• Make sure all legal documents of the company are without any loop holes.

• Drafts all legal documents of the company

• May represent someone affiliated with the company or the company itself in court.

• Negotiates legal matters on behalf of the company on matters pertaining to a license agreement or terms of a contract.

• Assists in business transactions to make sure that all arrangements and deals are legal and valid

• Files courtroom motions to seek litigation for any wrongdoings committed against the company that have caused financial or economic damage.

• Makes sure the business is operating within the ever-changing state and federal laws even if the owners are not aware of such new laws.

• Handles the dissolution of a partnership or corporation.

In general, a commercial lawyer works to assist and protect the best interests of their client, company, or the company they work for.

Difference between Commercial Law and Corporate Law

Commercial law is a broad term covering more specific areas of law including:

•   Corporate Law

•    Companies Law

•    Competition Law

•    Corporate Governance

•    Contract Law

•    Consumer Protection

•    Copyright Law

•    Intellectual Property Law

•    Trademark Law

•    Patent Law

•    Environmental Law

•    International Trade Law

Corporate law simply focuses on legal aspects of a corporation’s activities.

Qualities of an Excellent Commercial Lawyer

To be an excellent commercial lawyer, you must have extensive knowledge and understanding of business law (state laws and federal laws), regulatory and legislative developments.

You should also have full knowledge and understanding of internal business laws especially in countries where your clients have business operations or are looking to set up a business or invest in that particular country.  

Other important qualities include:

• Excellent academic background

• Strong negotiating and communication skills

• Extraordinary analytical skills

• Strategic to allow giving the right advice to clients on how to effectively craft and negotiate a business transaction.

• Creative in finding innovative ways to solve unique problems in business transactions.

• Stringent eye for details

• Good project managers because coordination and supervision of all multidisciplinary activities of the company is his responsibility.

• Advises clients on all legalities so they are able to make informed decisions.

• Exemplary communication skills to ensure he and the client are operating on the same brain waves and page.

• Thinks out-of-the-box

• Understands and is responsive to the business goals of the client.

It is also important for a commercial lawyer to be a team player. Commercial lawyers often work a lot of professionals from other fields for a common objective. As such top-notch people management and interpersonal skills are important qualities a commercial lawyer should have as well.

Good interpersonal skills are one quality that a good commercial lawyer should not be without. Commercial lawyers need to know how to build business relationships.

More importantly, you need to be interested in working in the business world.  You also need to have the mindset of a businessman and know how to apply your legal knowledge to real-life business conditions and situations. A thorough understanding of the business culture and what they need to achieve is as important as the legal mind you have.

If you want to be a successful commercial lawyer, you should be ambitious. You should continuously and relentlessly seek challenges to chase your goals.

How to Become a Commercial Lawyer

A career in commercial law demands high expectations. You will need to exude a lot of self-confidence and have a lot of initiative to demonstrate all the qualities required to be a great commercial lawyer.

All law firms are businesses, too. They need to have a good website to generate leads and prospective clients.  

Commercial law firms work on providing services to business so they can solve their commercial issues. If you want to pursue a career in commercial law, you need to harness your project management and negotiation skills, aside from being on top of all state and federal business laws as well as international law.

Commercial law offers a lot of variety. The nature of work of a commercial lawyer entails a lot of hard work and working long hours in the office. It involves a lot of research, as well as drafting and reviewing contracts for the business.

Being a commercial lawyer also involves talking to a lot of other professionals involved in the business and making sure all their activities are compliant to state and federal laws.

As to the other areas of commercial law, a commercial lawyer also needs to have full knowledge and understanding of Copyright Law, Intellectual Property Law, Trademark Law, and Patent Law when working with a manufacturing company engaged in the invention of new and innovative products.

International Trade Law is also another area of law a commercial need to have in depth knowledge of especially when working with a client or company that has business interest abroad or are planning on investing abroad.

Being a commercial lawyer is an exciting and interesting career. The business world offers a lot of surprises every day and the commercial lawyer needs to be on their toes at all times to make sure the business they represent is always on top of the game.

If you work for a commercial law firm, make sure the law firm has an eye-catching website so clients can immediately find you on the Internet when they need your services.

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