8 Ways Commercial Lawyers Can Save Your Business

No doubt, a commercial lawyer is a great asset to every business. Whether you are still nursing your startup firm or running a huge empire, you can’t undermine the valuable expertise of commercial lawyers in protecting your business interests and properties. 

Commercial lawyers are professionals specially trained in business and other business areas. They also have a vast knowledge of protecting your intellectual properties, consequently increasing your profit margin. 

Amusingly, some novice business owners may think it is better to run a business without the services of commercial lawyers because of the seemingly expensive charge of premium business lawyers. They also believe commercial lawyers are only needed when a dispute warrants showing up in court. Hence they don’t think of hiring a commercial lawyer until there’s a problem. 

You can only downplay the essence of commercial lawyers if you don’t mean business. But, if you are keen on taking your business above the threats of competition and soaring to a tremendous lofty height, you need a commercial lawyer. 

Related: 9 Best Alternative Careers for Commercial Lawyers

Commercial lawyers are supposed to be part of your team. But, if you want to get it right, you must carry them along from the beginning of your business and give them a free hand to actively participate in your decision-making. 

8 Ways Commercial Lawyers Can Save Your Business

Commercial lawyers provide legal advice and protect you from making some decisions that may cost you money or property. Not only that, they will help you build a solid foundation heavily defended against loss and lawsuits. A commercial lawyer can save your business in so many ways. In this article, you will learn eight ways your business can avoid loss through the help of a commercial lawyer.

 8 Ways Commercial Lawyers Can Save Your Business 

1. Protect your business in court

One of the primary duties of commercial lawyers is to defend businesses in court when there is a lawsuit. Unfortunately, not every customer is a friend of your business. Some are ready to make you pay with your nose for even the slightest mistake. That’s one of the notable reasons you need a legal practitioner that can protect your business in a court of law. 

Commercial lawyers are trained to represent businesses or organizations in court. Depending on the complexity of the charges, they may appeal before a judge on your behalf or appear in a courtroom to defend every charge against your business. Your business may not survive the test of time without a legal representative’s aid. 

Commercial lawyers don’t just show up in court to defend. They will help prepare court documents and petition on your behalf if there’s a need for further or lessened legal action. They will also advise you on handling a court case and the legal process. If all that is done correctly, you can be sure of not losing .

2. Preparation of legal documents

Commercial lawyers don’t just draft legal documents for court cases. As a matter of fact, they are responsible for writing every legal document associated with the daily running of your business. The list of some standard legal documents that your commercial lawyer would help you draft includes:

  • Partnership agreement 
  • Letter of demand 
  • Cease and desist letter 
  • Privacy policy 
  • Shareholders agreement 
  • Business merger agreement 

Please take note that it costs much to write legal documents. If you don’t have a commercial lawyer who works for your business, you may have to pay for each of the papers separately, which will be a considerable amount of money. Commercial lawyers studied law. So, they know how to interpret every legal terminology in a document and also make sure you do everything according to the standard of the direction of the region where your business is situated 

3. Advise on legal matters 

Commercial lawyers understand every aspect of business law. With that knowledge, they will advise you on legal matters. They help you watch your business practices and raise observations when they notice your business is about to operate outside the region’s law. Commercial lawyers will also help you draft internal policies that protect your business against damages, unnecessary costs or lawsuits.

4. Fixing legal problems 

Your commercial lawyers will stand by you anytime your business faces legal problems. They will ensure you don’t spend more than necessary when a court case or any legal issues arise between the company and your customers. Commercial lawyers know the best ways to gather evidence to favour you in the courtroom. They can go to any extent to make sure your business is back on track with the same esteemed image without losing money and customers 

5. Relating to other businesses

Your commercial lawyer will also stand as your business representative when it’s time to negotiate with other companies. During the negotiations, your lawyer will ensure the deal is in your business’s best interest. If you hire an in-house commercial lawyer, his goal will be to cut costs and save money for you in every bargain.

6. Ensuring your business complies with government policies

With commercial lawyers as part of your legal team, you can rest assured your business is in tune with the rule of law, whether on a local, state or country level. That’s why your commercial lawyer must actively participate in your decision-making process. That way, they will guide the other team members on how to comply with the law. 

7. Teaching ethics of business

Commercial lawyers are not only experts in business law, but they also understand business ethics. They will teach other staff members how to behave and relate with customers to gain more patronage. Lawyers are good psychologists; they understand customer behaviour.

8. Protecting your business property 

Commercial lawyers will also help to protect your business’s assets and properties. Mainly, commercial lawyers study intellectual property law. So, they have all it takes to keep your belongings safe without much extra cost. 

In Conclusion 

It is always a better idea to hire a commercial lawyer to work in the best interest of your business. Meanwhile, making them an integral part of your decision-making is best. Most commercial lawyers work better and more productively as an in-house officials. And you don’t have to pay much to make them one of your team members. 

9 Best Alternative Careers for Commercial Lawyers

At times, the heat and stress of managing every legal aspect of large businesses may pile up and become unbearable for commercial lawyers. At this juncture, mental fatigue would set in, and the legal practitioner who is expected to defend the interest of a business continually would become unmotivated to carry on his legal responsibilities. 

Aside from stress, many other things may cause a commercial lawyer to lose interest in the current role and dream of having a fresh start on a new career journey. If you are also at that juncture, don’t fret. We have decided to help you with excellent recommendations that will give you a new experience. Let’s explore the list of alternative careers for commercial lawyers.

1. Entrepreneur or business owner 

Starting your own business could mean starting a solo practice to starting your legal consulting firm or marketing agency. 

As an entrepreneur in the law industry, your understanding of issues in the market is your advantage. If you are a commercial lawyer constantly thinking there is a better way to deliver excellent legal services and provide a commendable client experience, starting your business will allow you to create solutions to meet client needs. 

If this resonates with you, consider everything it takes to switch from being a commercial lawyer to becoming a successful entrepreneur and start an incredible journey.

2. Content Writer

Put the interview, writing skills and research to good use by telling great stories as a legal content writer. You can write high-quality legal content with your vast understanding of the law and the points of commercial lawyers.

Some content writers choose to do freelancing, which is essentially owning your business. Others work as an in-house advertising team or at an advertising agency. In addition, law firms, legal technology companies, and other legal-adjacent organizations may prefer marketers who have studied business law on their CVs. So don’t be shy to share your experience when exploring those options.

3. Compliance Officer

A popular alternative career for commercial lawyers, compliance officers work in-house and help companies comply with local, state, federal, and international regulations. Compliance Officers can also be the company’s counsel, and there are opportunities in various industries.

4. Politician

It’s no news that many political leaders are well-versed in the law. That is because most of them went to law school. Based on research, 40% of modern-day politicians went to law school. Therefore, a fundamental understanding of the law is essential to a career path of a politician. In addition, your in-depth analytical and problem-solving skills as a commercial lawyer will be necessary for a life in politics. 

Of course, transitioning into politics is easier said than done. It always demands more than one thing in the long run. However, one way to connect with a local political party is to work on a campaign for a leading politician and be actively involved in everything they do.  

5. Professor or Teacher

The world of academia may be pretty hierarchical. Nevertheless, if you enjoy teaching, you can shape the next generation of sound commercial lawyers and law professionals. Moreover, with your law degree and understanding of the legal industry, you are in the best position to contribute to the restructuring and growth of law schools. 

6. Policy Advisor

Policy advisors are essential in any organization when working with elected officials, chief executives, and senior officers. The role of a policy advisor is excellent for those interested in developing regulations and policies. Some duties include evaluating information to develop policies and providing solid recommendations. If you consider that role properly, you will see it’s not far from what you do as a commercial lawyer.

7. Legal Sales Representative or Account Manager

If you are a social person who is excellent at creating, growing and maintaining relationships with others, this client-facing duty would be significant for you. In addition, with your legal training and experience, you will understand the problems of legal practitioners best. And you will be well-equipped to help solve those problems. For example, you might try reaching out to companies that provide services to law firms and commercial lawyers. Then, connect with someone in their sales department to learn more about their role and responsibilities.

8. Author

If you are a well-versed commercial lawyer, why don’t you write some books about the experience you have accrued over the years of your active practice? For the record, not all authors write fiction novels. Perhaps you have always wanted to help law students succeed or impart your wisdom as an experienced commercial lawyer to young attorneys. If you love writing, but don’t want to be a marketer, consider writing a book.

There are multiple ways to become an author—self-publishing is becoming increasingly attainable. You could also consider contacting a publisher to sell your book. Regardless of how you publish your writings, be prepared to put some work into marketing and selling your manuscript. That is key to landing a publishing contract and selling your book.

9. Staff at a legal technology company 

By joining the legal technology industry, you can help transform a world filled with many opportunities, like the paradox between the demand for legal services and the roadblocks law firms face when finding business. The exciting world of legal technology may be an excellent idea for you if you have always been interested in what the changing world of technology means for the law and how it’s practised—and you’d rather be a part of it.

On A Final Note

Embarking on an alternative career from being a commercial lawyer doesn’t have to be scary. A career change is always challenging, and the ability to take a financial step back varies from person to person. That’s why it’s essential to set personal and professional goals at the beginning of your search. As you think it through, please don’t rule out potential careers before doing some research into them. Not all careers require formal training. Sometimes, the best training often happens on the job. 

At the same time, be open to the notion that what you seek may lie in front of you. For example, your legal career may still work for you, with a few changes to make for a more satisfying work life.

Remember to be kind to yourself. You may not always have the correct answers. But, with determination, you can find a career that works for you. For inspiration, read these stories about lawyers who have transitioned successfully to second careers and built successful second careers. 

Best Tips For Commercial Lawyers To Build A Strong Network

For busy commercial lawyers, taking time to attend networking events might seem easier said than done. So how do you ensure you get the best shots of your networking efforts? First, of course, you can master the art of bringing up conversations, but if you want to get your image and brand out there, we advise you to take your efforts further.

We have put together these legal networking tips to help you do that, including advice for preparing and attending events and beyond. Whether you are networking with fellow commercial lawyers or attending non-legal events relevant to your practice area, these tips will surely set you up for success.

How To Succeed At Legal Networking

1. Do your prep work

If you approach a lawyer networking event like an obligatory annoyance and do minimal prep work, your results aren’t great. But before going to a legal-associated networking event, prepare for the session ahead. Ask yourself: What is the demographic going to be like? Is this an event for commercial lawyers? Investigate the topic that will be discussed, if it is a seminar or someone is giving a lecture, and research the event a little so you can talk about everything confidently later. It will probably be more engaging than saying, “So, what’s new in this event?”

Best Tips For Commercial Lawyers To Build A Strong Network

2. Have a line ready

When anyone asks who you practice, be ready with a short but detailed answer. This line should be enough to get the discussion flowing and to help everyone you meet to figure out if and how the people can help you and vice versa. For example, if a person asks who you are, you might want to say that you are a commercial lawyer focusing mainly on divorces. What if you also prepare critical questions to ask other legal practitioners when networking? For instance, “What are the biggest challenges at your law firm? What have you found works best for commercial lawyers like us?”

3. Remember, It is not about you; it is about them

If you want to experience delightful interactions where the other professional is fully engaged, don’t do the networking all about yourself. 

That is true of any conversation, especially at a lawyer networking event where the purpose is to create mutually beneficial relationships. Ask what the other commercial lawyer does and what clients they help. These conversations will help refer clients beyond your practice area to lawyers you have networked with.  

After all, you are more likely to get referrals from a lawyer you are e referred clients to. Additionally, it’s valuable to know skilled lawyers in other practice areas. These excellent connections make it easy for you to refer clients confidently. Referrals are another way to get more people who need legal advice. Even if they don’t use your services, they will likely remember their positive and continuous interaction with your referral. Eventually, every interaction is an opportunity to provide a client-centred experience and build your brand.  

4. Don’t just do it only when you need to

For commercial lawyers, networking is a continuous process, so make it an essential part of your life. Continuously network, go to premium events, and meet new people. It is a skill you build that needs to be refined constantly—and if it is any consolation, it will get easier. Build on your expertise and skills by attending local legal-oriented events or industry-leading conferences where smaller networking events are broken out by different areas or practice areas of interest. Making lawyer networking a habit also becomes less tedious, even for introverted people.

Best Tips For Commercial Lawyers To Build A Strong Network

5. Follow up

Suppose you meet another prolific commercial lawyer who might send you business, follow up with them. People meet hundreds of other legal professionals, which means that unless you have a 3D business card, it will get lost in the shuffle. Even if you are highly talented at having great and memorable discussions with everyone you meet, following up with an instant email will cement your acquaintances’ memory of you and help you begin cultivating that relationship.

6. Online legal networking groups

In our digital world, networking is no longer limited to in-person events. Commercial lawyer networking websites and community hubs such as The Law Community can benefit commercial lawyers in diverse ways. Online legal networking websites and groups can offer professional assistance, help you stay up-to-the-minute with industry trends, and help you to connect with other legal professionals. 

7. Get involved in the  local community

As mentioned earlier, you need to build a regional reputation. It is an essential factor contributing to your business development strategy. However, your relationships in your community will be meaningful as well.

8. Be seen and heard

Attorney networking and business development are essential: building relationships and being accessible. “You must cultivate relationships consistently. But you also need to be heard and seen so that people remember you when they need a commercial lawyer.”

9. Go up and down for clients to earn more work

Meeting people is the first step in business development. The grit and gristle come in finding ways to cultivate healthy relationships as issues come up. To stand out, you must do good work—and provide a client-centred experience.

You have to go up and down for people. That is how they remember you. Anyone can hire someone to do a job, but if you take it in a way that surpasses their expectations, that is where people start to talk. 

On A Final Note

Most commercial lawyers get 40% of their new clients from referrals every year; If you want more new clients from referrals, it is best to provide an easy way for other commercial lawyers and past clients to recommend you.

Make sure your friends and family have business cards they can hand out, but also make it easy for them to explain how to find you online. If they are out of cards, they will likely tell your potential clients to look for you online, so ensure you get a user-friendly website that puts your best strength forward.