A business lawyer Sydney provides expert advice on matters that cover business compliance with intellectual property. Additionally, a business lawyer in Sydney can also do legal work and handle disputes and liabilities. These lawyers play a significant role in business information and selling a business.
Experienced Australian business owners will know the importance of having both an expert accountant and a business lawyer in Sydney. This is because businesses can face complex issues like contract drafting and liability issues. This article will discuss how a business lawyer in Sydney protects a business owner’s best interests.
Business Lawyer Sydney: What Can They Help With?
Employment Law
Employment law ensures that employees get fair treatment in the company they’re working for. Essentially, employment law covers issues such as hiring or terminating employees, as well as maintaining work standards for employees. Hiring a business lawyer will help guarantee that companies and businesses comply with regulations that protect them from financial liability.
Contracts
An experienced business lawyer in Sydney can help with preparing a wide range of contracts. Contracts are used to negotiate and leverage better terms and conditions for businesses. These types of contracts include leases, purchasing agreements, and product sale contracts with third-party vendors.
Intellectual Property
A lawyer specialising in intellectual property can help protect products or personal inventions. Intellectual property can be technical and complex to navigate. However, an experienced business lawyer in Sydney will ensure that an owner’s interests are protected.
Bankruptcy
Filing for bankruptcy is a difficult procedure. Still, a business lawyer in Sydney can help with bankruptcy filing options that can benefit businesses. Also, they will help ensure that filing for bankruptcy complies with needed requirements with utmost accuracy.
Taxes
A business lawyer in Sydney has tax experience that helps owners figure out tax obligations. Generally, companies have to pay several taxes for income, sales, property, and many more. A business lawyer in Sydney will advise about these taxes and ensure compliance on a business owner’s end.
The Australian Tax Office (ATO) is responsible for ensuring businesses and companies lodge their tax returns properly. The tax system uses a self-assessment program. Hence, every owner must exercise due diligence in reporting their own tax to the ATO annually.
Business Lawyer Sydney: Duties and Responsibilities
A business lawyer in Sydney is typically responsible for providing legal advice on business matters. Because business law is complex and technical, these lawyers help navigate business law with their jargon-free legal advice. Hence, they can aid in setting up entities that benefit owners, employees, shareholders, and consumers.
One of their primary objectives is to promote healthy and meaningful connections in the business community. Additionally, they promote growth for businesses whether small or large. Anyone setting up a business of their own will require a lawyer’s legal advice. A business lawyer in Sydney is capable and authorised to do the following:
- Providing assistance to businesses in preventing, navigating, and resolving complicated legal difficulties.
- Assisting and advising businesses on their operations’ structure, policies, objectives, and procedures.
- Ensuring that companies understand all applicable laws and their results.
- Researching and resolving legal conflicts by analysing applicable laws, developing arguments, gathering evidence, and providing legal counsel.
- Drafting, evaluating, finalising, and filing legal papers.
- Examining and reporting any possible or existing legal concerns to the appropriate authorities.
- Contract terms, transactions, and settlements are negotiated on behalf of the businesses involved.
- Ensure that all corporate procedures, plans, and activities are in accordance with all applicable local, state, federal, and international laws.
- Managing multiple clients, cases, and legal activities that carry varying deadlines.
Qualified business lawyers are recognised by the court of appeals which is the highest court in a state. They display sheer professionalism when handling legal cases and are updated about the changes in the law. Therefore, you can benefit a lot from a lawyer’s advice for starting your business.
Business Law Vs Corporate Law
All companies and organisations both require business and corporate law advice. While both of them seem similar, both of these laws function differently. Moreover, their study does not traverse the exact same path. The points mentioned below explain the key differences between business law and corporate law.
- Corporate law will give rules and guidelines in general. These are majorly utilised in purchasing and selling goods in the market. Meanwhile, business law will look at the company’s overall business.
- Corporate law has a special influence on organisations. Several companies find themselves in legal procedures for breaking one or more corporate laws.
The main concern of corporate law is with the:
- Activities of an organisation;
- Rights and privileges of investors;
- Obligations of its administration; and
- Different issues that apply for the most part to the company’s management.
- The estate and the central government administer business law.
- Business law deals with the fundamental legalities that an organisation’s foundation requires. On the other hand, corporate law emphasises the operations, activities, and validity of an organisation. In simpler terms, corporate lawyers write the contracts and business lawyers review the contracts.
- Similarly, corporate law helps in taking care of the legal formalities of a company while avoiding litigation. Business law enforces policies and oversees staff manuals.
- The responsibility of a business lawyer in Sydney in ensuring a company’s compliance with local laws. This applies whether it concerns the foundation of a company or its dissolution.
- Like any individual, a business organisation should pay taxes. Out of the two, only business law incorporates the law concerning financial transactions, tax, and marketing procedures.
- Business law regulates tax obligations, expense commitments, and tax benefits of various sorts of business structures.
- A business law’s major role is identifying how employment law influences various business substances.
What Is Commercial Law?
Corporate and commercial law are often used synonymously and they are actually two separate areas of law. However, since their areas of practice are closely related and do commonly overlap, these two areas of law can be difficult to distinguish from one another.
Commercial law strives to establish a legal framework within which a business can operate and can encompass a wide range of issues that go beyond a company’s day-to-day activities. Commercial lawyers handle zoning, intellectual property, litigation, franchising, and leasing a building or assets.
However, one of the most important aspects of commercial law is the purchase or sale of a business. A commercial lawyer can assist in avoiding mistakes by applying contract law and property law concepts to commercial matters.
JB Solicitors’ Commercial And Corporate Lawyers
Starting your own business, organisation, or company can be stressful without proper legal advice. Additionally, companies and businesses may face tax implications and issues in drafting up legally-binding contracts.
Whether it’s about corporate, business or commercial law, JB Solicitors can walk you through the proper procedures for maintaining companies and business.
Our seasoned lawyers represent some of Australia’s largest corporations and businesses. Importantly, you can view our commercial law services brochure to understand the subscription-based legal services that we offer.
Reach out to JB Solicitors today for your commercial and corporate matters.
