What do Commercial & Corporate Lawyers Do?

The laws regarding businesses require complex legislation to formalise the agreements made between them, their clients and, indeed, their workers. These laws serve to protect all parties in the event of a dispute.

Commercial law (or business law) deals with the rules regarding businesses and their transactions with customers and employees.

Corporate law is concerned with the formation and structuring of corporations, ensuring they work within the confines of the existing legislation.

Both corporate and commercial lawyers need a thorough understanding of a range of legal aspects, including accounting, contract law, civil law and intellectual property laws.

What do commercial lawyers do?

Commercial lawyers advise individuals and companies on their specific legal needs. They work in all industries, but they may specialise in one sector, such as banking or media.

Commercial lawyers handle a wide variety of tasks for their clients. These include:

• providing legal or commercial advice
• drafting contracts and legal documents
• advising on employment law
• advising on intellectual property law
• buying and selling assets and businesses
• negotiating agreements between individuals and companies

An excellent commercial law firm will have a thorough understanding of their client's business, what they want to achieve, and the legal issues. They must resolve complex problems quickly and effectively, saving them time and money.

What do corporate lawyers do?

Corporate law focuses on the statutory, regulatory and operational rules companies must adhere to.

It can be challenging to keep abreast of all the corporate laws and regulations. That is what corporate lawyers do: provide legal advice and legal services to ensure companies stay within the bounds of what the law permits them. They advise of their rights and duties, as well as the legalities of all their corporate and commercial transactions.

It's not uncommon, even, for larger corporations to have a team of lawyers at their disposal!

Tasks corporate lawyers handle for their clients include:

• company incorporation
• shareholder agreements
• corporate regulatory filings
• corporate restructuring
• mergers and acquisitions

These laws protect shareholders and directors, so all these obligations must be met.

For corporate lawyers to thrive and succeed in the field, they must develop an outstanding knowledge of business law. They must also have exemplary competence regarding regulatory developments, legislative, and current trends.

Moreover, corporate lawyers must get acquainted with the business and corporate law in other areas their clients are looking to invest in or jurisdictions where their clients have operations.

A good corporate lawyer needs strong communication skills, superb negotiation skills and meticulous attention to detail.

Whether you need a commercial lawyer or a corporate lawyer, Ajak & Associates have a wealth of experience and expertise at your disposal.