When it comes to getting your new business up and running, a Business Solicitor is a highly valuable person to have on your team. Investing in professional legal advice will put you ahead of your competition by default as many organisations fail to adequately protect their Intellectual Property, put in place a Partnership or Shareholder Agreements, or ensure they have robust commercial contracts in place.
Once you have found a Commercial Solicitor who you are confident can take care of your legal problems quickly and cost effectively, there are several things you need to ask them to ensure your best interests are protected.
What business structure should I choose?
There are several business structures you can choose, including:
- Sole trader
- Traditional Partnership
- Limited Liability Partnership
- Private Limited Company
Each has advantages and disadvantages which your Business Lawyer can explain.
What are the rules about naming my business?
If you are setting up as a limited company, you must choose a name for your business and register it at Companies House. The company name you select must be unique and free from sensitive and restricted words.
A Commercial Solicitor can run a search to check if any other organisations have the same or similar names to the one you wish to use.
>> Read more: How to Register a Business Name
How do I protect my intellectual property?
- Trademark,
- Design right, and/or
- Patent
Copyright may also protect your work automatically without the need to make an application to the Intellectual Property Office (IPO).
Intellectual property law is highly specialised, and you will need the advice and representation of an experienced Solicitor to apply for protection and enforce your rights.
>> Download LawBite Free E-book: Your Essential Guide to Intellectual Property
What terms do I need to include in my commercial contracts?
Commercial contracts form the foundation of all businesses. From suppliers, to distributors, to consumers, contracts will set out your terms of trade and how third parties will do business with you. It is imperative to not only have your commercial agreements drafted by a Solicitor but to also have any contracts you are asked to enter into checked and negotiated (if applicable).
In summary
If you are an entrepreneur or a small business owner you need to consider working with a Commercial Solicitor because he/she will help ensure that your business has the necessary legal and compliance frameworks in place to be protected, grow and succeed.
You can get legal assistance from LawBite
Accessing legal support for business has never been easier.
At LawBite we take the legal strain so you can focus on running your company. With accessible and affordable legal expertise available at your fingertips, our experienced lawyers will make sure you receive the legal advice your business deserves.
You can submit an enquiry on different legal matters through the LawBite platform or get a subscription plan with prices that suit everyone’s budget.
With LawBite, you will always have a lawyer in your corner, ready to work on your behalf when a new issue crops up. Why not take the LawBite legal health check on start-ups and see your legal fitness score.
When you are ready to speak to one of our legal experts, you get a free 15-minute consultation.
