Young Upstarts

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5 Ways A Commercial Lawyer Can Help You With Your Business

It takes a lot of work and effort to run your own business, but there are some things that even the most competent business owners may need help with when they finally start to trade. It can be hard to navigate all of the paperwork and policies that you may need to have in place when you are running your own business, so it is a good idea to get some help from someone in the know.

Commercial lawyers can be a great help to business owners in a number of ways, and they can help you and your employees to feel as safe and protected in the workplace as you can be. 

1. Dispute resolution.

When you are running your own business, there are always going to be times where you or your staff may get into a disagreement. You are not always going to see eye to eye with your customers, clients or your staff, so it is important that you have procedures in place to protect you when things get rough. Calling in a commercial lawyer to help you to resolve complicated workplace disputes is always a good idea because they are professionals in dealing with these types of issues. They will be able to help you to resolve any workplace conflicts in the correct way, in accordance with any government laws or legislation that may be pertinent to the matter at hand.

They can also help you to create policies so that you have procedures in place for when a conflict arises that needs to be resolved quickly. Speaking to a commercial lawyer who specialises in resolving business disputes is always a good idea, especially if you have a lot of staff or clients that you constantly need to manage. 

2. Business contracts.

Part of being a business owner is learning to draw up contracts between staff members, clients, vendors or business partners for a number of different reasons. And if you don’t know a lot of the legal jargon or laws that you need to follow when drawing up business contracts, a commercial lawyer can help you with this part of your job. They can review contracts that you are drawing up for various people involved with the business, or they can look over any contracts that you are about to sign.

Commercial lawyers may also look over things like employment contracts, shareholder agreements, loan agreements and confidentiality agreements that you may not be able to navigate on your own. So if you need someone to help you with signing or drafting contracts for your business, you should speak to a commercial lawyer. 

3. Tax advice.

Most business owners will have a good relationship with their account or tax agent, but asking your commercial lawyer for tax advice can be of benefit to you as well. You don’t want to get in trouble with the taxman when you are running your own business, so talking to your commercial lawyer and making sure that there are no discrepancies with your funds is always a good idea.

Commercial lawyers can help you out if you do happen to come under scrutiny by the ATO (Australian Taxation Office) for doing something wrong. But even if you think that you are doing the right thing when it comes to the taxes you have to pay as a business owner, it is always good to speak to a commercial lawyer who knows about taxation law, as they can help you to figure out what you can legally claim for your business and how to look after any investments that relate to the business.

4. Employment law.

To be a great business owner, you need to do the right thing by your employees at all times, so consulting with a commercial lawyer can help you to be a better boss. As mentioned earlier, commercial lawyers can help you to draft employment contracts that will satisfy all parties involved. They can also help with claims that employees make against the business due to negligence or harassment so that you will not get in trouble if something goes wrong in the workplace. Commercial lawyers will weigh upi your options for you and give you advice on how you should proceed in any employment law matters, so that you and your employees will feel happy at work.

5. Data and privacy breaches.

Nobody wants to have their data or privacy breached, and most businesses are especially careful about someone finding out sensitive information. However, there are often times these days where businesses will get hacked and have their data leaked, which allows for criminals to do what they want with any important information.

If you are running an online business or you have to deal with sensitive information from your customers on a daily basis, is it important to contact a commercial lawyer who specialises in data protection law. They can help you if your business has a leak or if someone hacks into your database and steals your data. Your customers may hold you liable when their information is stolen by someone else, so a commercial lawyer who knows about this area will help to prove that the breach was not your fault and that you and the business were not involved in a breach of privacy.  

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Young Upstarts is a business and technology blog that champions new ideas, innovation and entrepreneurship. It focuses on highlighting young people and small businesses, celebrating their vision and role in changing the world with their ideas, products and services.

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