The field of Business & Commercial Law encompasses many different strands. Below is a list of what our team can help you and your business with.
Formation and Incorporation of Companies
Companies have to comply with the law even before opening their doors and we have extensive experience in dealing with the formation and incorporation of new companies filling in all the necessary forms requiring to be lodged at Companies House. We can also help you to choose which type of business entity is best suited to your circumstances. Businesses can be formed as a partnership, a franchise, a sole trader or a limited liability company for example. While the selection of the appropriate business entity will depend on a variety of factors the over-riding purpose of the choice of business entity is to shield business owners from personal liability. Operating a business which is not set up to provide limited liability means that the owners are putting their personal assets at risk of any creditors of the business. By taking expert legal advice at the inception of the business this situation can be avoided.
Finance will need to be raised in order to start your new business or expand your existing business, which can come from friends, family, your own funds or a bank loan. Not many clients though have enough ready cash set aside for this and will be looking to the bank for a commercial loan. Banks will normally be willing to lend if they believe in the profitability of the business and are granted sufficient security to be able to get their money back if things go wrong.
If you are a new business the bank may want to seek security not just from the business but also over your domestic residence. You should ensure that legal advice is obtained before taking this step. You may have a spouse or a partner who is the joint owner of your property who will need to consent to the granting of the further security. Once granted, a security for commercial purposes is not easily discharged so adept legal advice is necessary.
Mergers and Acquisitions
We can also assist you when buying other companies or selling your own, providing you with practiced guidance. In a merger or acquisition we can direct you on issues such as the strategic fit with your existing business, the negotiation in the purchase of or the merger with another company, or even help you to create a strategic alliance with another business.
At Mitchells Roberton we provide robust and pragmatic advice on corporate restructuring and insolvency. We understand the stresses that come from owning your own business and how hard it can be when you encounter financial downturn.
With our range of skills and expertise we have the experience to help tackle financial and operational problems advising you of your legal responsibilities and the options available to move forward.
The ability to form contracts represents the foundation of modern Business and Commercial Law. A document drafted with care can make all the difference to the financial health of a business and can stop the business from encountering potential pitfalls. For example a skilfully worded Operating Agreement for a company will make it clear how the company’s owners will share the profits and losses, make important business decisions, and transfer ownership rights. A Partnership Agreement which has been prepared by one of our experienced commercial solicitors will often prevent litigation in the future because of the clarity of its terms.
Companies need to purchase and/or supply goods or services, as well as carrying out other commercial deals and each situation can only legally happen with the existence of a contract. We can assist in preparing Contracts of Employment, Wills and Powers of Attorney for partners in case of tragedy or accident and restrictive practicing covenants. We are experts in explaining the law and drafting commercial contracts for you, in a plain and simple way so that there are no misunderstandings from any of the parties.
If you are operating an existing business or plan to launch a new one, your success may depend on obtaining the right legal advice. If we can help then please schedule an appointment with one of our experts today.
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Need more help for your business? Visit our Services for Businesses page for details of how our experts can help you.