When you’re setting up the business you’ve been dreaming of for some time, the last thing you’re thinking about is a potential court battle. You might believe you’re doing everything legitimate and “by the book” so there’s no need to be concerned.
The reality is thousands of businesses set out every year with the best intentions. But, as the commercial litigation lawyers Melbourne businesses turn to can easily tell you, life happens. Despite the best intentions, sometimes things just don’t go according to plan!
Finding your business in the middle of a legal dispute can be very daunting. It becomes even more stressful when you realise the problem at hand could have been rectified before it got this far. As a new business owner, what are the most common reasons to invest in a commercial lawyer?
You might know everything there is to know about making your product or service the best that it can be. But, how much do you know about the legal side of your business? Interacting with employees, customers and suppliers might leave you open to different litigation processes against you or your business.
A commercial litigation lawyer has expert knowledge relevant to business. The right one will be well versed in the regulations and compliances that govern your particular industry. They’ll easily be able to use expert judgement to determine the best outcome for you and your business.
Starting your business is about a lot more than the right product at the right price. Whether you’re selling a product or offering a service, your business should have a solid structure. A commercial litigation lawyer can collaborate with you to ensure that your business has been set up correctly.
They’ll advise you of the different options available based on what you’re offering and whether or not you have partners. For example, deciding whether your business will be a sole trader or company will determine the rights and legislations applicable to your company.
It’s important to remember that setting up any type of business with another person requires contracts. No matter how good the relationship is with the person you’re starting your business with contracts and agreements are crucial.
These contracts will set the standard and expectations of each partner. It’ll also serve as a basis for conflict resolution should there ever be a dispute about any aspect of the business. Commercial litigation lawyers will assist with drawing up these contracts in a way that’s legally compliant and fair to all parties.
Aside from drawing up contracts for your partners, it’s crucial to set up agreements for employees and suppliers. Should there ever be a legal dispute with an employee or a supplier, the contract will serve as a binding contractbetween the parties involved.
During disputes, the court will probably require the contracts to see what all the parties agreed to at the beginning of the business relationship. It will then be easy to see who is at fault and these guidelines will provide a potential resolution.
No matter what your business is selling or offering, your business is always at risk of fraud. If you deal with customers, you could experience identity fraud. A commercial litigation lawyer will assist you with any type of dispute regarding fraud.
During the developmental stages of your business, they’ll be able to provide you with strategies to prevent several types of cons. If your company has been targeted for fraud, it’s always good to know you have protection!
It’s important to discuss any employee regulations with your commercial litigation lawyer. For the most part this include hours employees may work, regulations for compensation as well as criteria regarding overtime, days off and sick leave.
Ensuring that you abide by the legal requirements is only one side of the coin. If employees don’t abide by the regulations set out for them in their employment contract, your commercial litigation lawyer will also be able to advise you of the best course of action to take.
Another important type of agreement to have is the one between you and the property owner you’re leasing your business premises from. A property ownermight not keep to their end of the agreement with regards to repairs or maintenance.
Disputes with the property owner could result in downtime for your business. The last thing you need is to have your business lose revenue because of legal issues with a landlord over discrepancies in the leasing agreement!
You might feel that consulting a commercial litigation lawyer is almost an invitation that something will go wrong. The truth is, when it comes to your business, it’s always better to err on the side of caution.
For commercial litigation Melbourne and Sydney but also smaller towns’ businesses should consider having a lawyer on speed dial. Should any litigation matters arise, you’ll have peace of mind that your business will be in safe hands!
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