More people are now starting up businesses than ever before. Last year over half a million new companies were registered with Companies House and while not all of these are successful it shows a distinct trend in the number of people who are running their own business.
Hiring a solicitor for commercial litigation doesn't mean that you are in some kind of legal trouble. Not every business will be involved in a dispute in the High Court or Royal Courts of Justice however it is important that every business seek legal advice. This can range from complex matters to more straightforward ones.
There are many reasons why a solicitor is required for a commercial nature and here are three of them.
Setting Up The Company
It is easy to register a new company with Companies House however actually setting up and starting a business presents a minefield of problems.
This is why a solicitor is so important. To ensure that your business is set up correctly, is registered in the right places and has all the correct licenses and follows regulations then a commercial legal professional is invaluable.
Thousands of businesses every year fail to consult a solicitor when they are creating their company and this only leads to problems and legal issues further down the line.
Settling Disputes
You would be hard pressed to find a business that isn't involved in some kind of breach of contract, employment or shareholder dispute at some point. It is very common place for this to happen but a solicitor can assist in defending your company and your name.
The Queen's Bench Division is where these kinds of disputes are settled however exposing yourself to risk is not something that is recommended. Hiring a legal professional who is well versed in disputes arising from negligence, breach of contract or issues with partners and shareholders can be the difference between a settlement and decision in your favour and one that goes against you.
Selling A Company
Hopefully your business will never end up in the bankruptcy/insolvency section of The Rolls Building however a solicitor is a great asset to have if you are winding up a company or even if you are selling it on.
Acquiring a new business or selling your current one is a complex area and many different things have to be taken into consideration to ensure that it is done correctly and above board as well as to ensure that you get the best deal. You might have spent years building your business so why settle for anything less than you deserve?
Hiring a solicitor who is experienced in commercial law and all aspects of business disputes cannot be stressed highly enough. It is not recommended to go it alone when it comes to your business especially if you are involved in a dispute or legal issue. Even seeking advice on drawing up contracts can save you a lot of trouble later on.
Get in touch if you want to learn more about how we can help your business.
Call Selachii solicitors on 02077925649
