Business

When Do You Need a Commercial Law Firm?

Written by Lis Meitner

No matter the industry in which your business operates, it is almost guaranteed that there will come a time when you will need the services of a commercial law firm. There are a number of different reasons for this, and here we have covered some of the most important. The fact is, today we are living in a society that is litigious, and those who have a business which is growing and developing at a healthy rate are likely to need the services of a lawyer at some point in order to assist them in navigating through the judiciary maze. In times of legal dilemmas, a commercial law firm is needed in order to help your business protect its assets.

Why It’s Best Not to Wait

Some business owners prefer to wait until a certain situation arises where enlisting the services of a commercial lawyer Sydney is unavoidable. However, there are a number of different problems with this approach, as there are some situations where if left too long, the services of a commercial law firm will be useless. In other words, waiting may mean that it is too late to get help, and you will need to follow the course of the law without support. Needless to say, this can be a very difficult experience for a business owner who has worked hard to establish and develop their company. There are many different examples of this kind of situation taking place in the business world today. If you own a business, it is a good idea to enlist the services of a commercial law firm early on, even if you don’t think that you currently are in need of them. You never know when you will need them in the future.

Marketing Secrets

One scenario where the support of a commercial law firm is necessary is the sharing of market secrets. This involves a business which pioneers a specific manufacturing or marketing technique, which is a trade secret unbeknown to other businesses and competitors. For example, a food chain may have a specific recipe for a menu item which is specific to that company alone. However, what happens if a disgruntled employee leaves the company and shares this secret with a competitor? If the business had consulted a commercial law firm beforehand, they would have been able to avoid this situation by ensuring that all employees signed a confidentiality contracts which binds them by law to keep all trade secrets to themselves. This is also important if you are selling a product which is your intellectual property or invention. Without a trade mark or patent to ensure that you own the copyright, it is possible for employees to go on to sell this product or service without your permission, effectively stealing business from you. A commercial law firm can help you to put all the necessary plans in place to ensure that this situation cannot arise.

Partnership Agreements

Another situation where the services of commercial law firms are important is when an agreement is made between two companies. Whenever a business agreement is reached between two or more individual businesses, it is important that a commercial law firm is on your side in order to provide proper legal guidance and support as needed. This situation is known as a partnership agreement, and is necessary to ensure that things run smoothly, even if the partnership were to dissolve. This is especially important if you are involved in an agreement that includes the sharing of trade secrets between partners or if you are running a business that involves giving out contracts. If any trade mark or patent situations are involved , the assistance of a commercial law firm should also be obtained.

Bill Collection

Many business owners and other individuals are unaware of their rights when it comes to bill collection. When you are running your own company you may find that you become harassed by bill collectors, and it is important to be completely aware of what can be done when dealing with this situation in order to ensure that your business continues to run smoothly. The help of a commercial law firm can give you the support and advice needed to deal effectively with any harassment and issues regarding bill collectors and ensure that you enjoy complete peace of mind when dealing with this type of problem.

 

About the author

Lis Meitner