As your business is growing, you will often find yourself involved with all kinds of documents and contracts. Whether it is a commercial contract or employment contract, without the deep understanding of the law or someone who can advise you in negotiating, the term may lead you to massive disadvantages in business. 

Commercial contracts and agreements are simply key to business relationships, so whether you are a sole trader or multinational corporation, it is crucial to ensure that the business contract is drafted that protects and benefits you. Although it is possible to handle them yourself, seeking help from experts who are specialised in this field can be less time consuming and can lead to a more effective result. However, choosing a contract lawyer that is right for you requires a lot of consideration. Here we bring you some tips to find the most suitable contract lawyer for your business. 

 

Things to consider before choosing a contract lawyer

Does the lawyer have experience in this area? 

Choosing  lawyers that are specialised in business or commercial contracts can put your mind at ease and give you the confidence to expect satisfactory results from them. Not only are they able to simply draft and review the commercial contract but they also know how to perfectly negotiate and protect your best interests. Therefore, it is important to ask them about their experience in this area. In most cases, a law firm usually provides different types of commercial contract review. Here are some example of different types of commercial contracts: 

  • Shareholders agreements
  • Commercial and retail leases
  • Service contracts
  • Loan agreements
  • Employment contracts
  • Franchise agreements
  • Online business contracts

 

Ask for referrals or Check for Reviews

One of the best indicator tools to check performance is word of mouth. We tend to trust a review from someone we know because it is a real experience that they had, that’s what makes it reliable. You can check with other people from your industry that were past clients from your contract law firm to ask for recommendations. 

In case you don’t have any personal referrals, another choice is to check the reviews online. An experienced law firm usually has positive reviews online or even on social media platforms. You may also check their testimonials to double check if there is any negative feedback from past clients.

 

How comfortable are you with your lawyer?

In selecting a contract lawyer or law firm that is right for you, the most important thing to consider is to make sure that you feel comfortable with the person. Since you will have to work closely with them day to day, you should be able to trust them completely. Find someone who you are honest and reliable with and at the same time have your best interest at heart. Here are some examples of what a commercial contract lawyer can assist you with.

  • Drafting and reviewing your contract
  • Resolving disputes over contracts
  • Negotiating agreements
  • Defending proceeding
  • Advising on breach of contract matter

 

Cost and Billing Details

It is crucial to ask your commercial lawyer about the price of their service. Different businesses have different amounts of budget, therefore select the one that is suitable and fits your budget.

In addition, there are different methods of how you will be charged. Some firms charge their clients by hourly rate and some do the flat fee method. Make sure you are aware of which one they do and which suit your budget the most. 

 

Contractor or In-house contract lawyer

At some point you might consider whether to have your own lawyer team in house or partner with another other business. Although an in -house lawyer team can be advantageous when it comes to handling high volumes of contracts and are highly specialised in the contract law area, in most common cases, hiring a specialised outsourced lawyer may cost less. A contract law firm also has access to a wider range of specialists that specialise in a variety of areas which can ensure you the result that is satisfying. 

At LegalVision we have a commercial contract lawyer team with deep industry expertise working with businesses across Australia and abroad. We also operate on a fixed-fee model to ensure you have certainty and transparency over your legal service fees. We draft and review all types of commercial contracts. If you have more questions about a commercial contract, get in touch with us today for more information. Call us on 1300 544 755.