What do we mean by Business or Commercial Law

When we talk about business law, also known as commercial law, we mean the branch of legal practice that governs the rights and conduct of individuals and businesses engaged in commerce, trade, and sales. In other words, it probably influences the way you do business on a daily basis.

For a Leicester based business this will usually mean the law governing England and Wales. However, this is not always the case and, depending on your trade, you may also need to comply with wider UK, EU and international legal requirements.  

Business law is about ensuring fair practices, protecting the rights of all parties involved, and regulating interactions between companies, employees, consumers, and government bodies. Key statutes include the Companies Act 2006, which governs company formation and management, and the Employment Rights Act 1996, which outlines employer-employee rights and obligations.

Business law basically underpins the framework within which a business must operate. Compliance, and what happens when a business does not meet those legislative obligations, can be a very complex and challenging area of the law. As you would expect, that means it requires some very specialist knowledge.

Why Do You Need a Local Business Law Solicitor?

Everyone responsible for running a business, from sole traders to a C-Suite team, needs to know when to call in an expert. When it comes to business law, there is no room for mistakes, no margin for error, and no way to put things off. Neither is it an area where you can ‘make do’ or go it alone. Your business, your livelihood, and the working lives of your employees are all tied up with the legality of your business. A solicitor with a deep understanding of Leicestershire and its unique business environment as well as the knowledge of the wider legal landscape, will provide you with tailored advice and support. A Commercial Law Solicitor is part of ensuring that your business is compliant, protected, able to respond to any legal challenges and, when you are ready, poised for growth.

The role of the business lawyer is wide ranging and often the requirements are unique to the specific business.

Just some of the areas where they can help include:

1. Commercial Contracts

Contracts are the backbone of successful trade for everyone in the supply chain. A commercial lawyer can assist in drafting, reviewing, and negotiating contracts, helping you avoid potential disputes and ensuring that you’re fully protected.

2. Business Formation and Structuring

Every business should have a clear legal status. That status carries a responsibility under law and a commercial lawyer will help you choose the right course of action. This includes handling all necessary registrations and ensuring compliance with the Companies Act 2006.

3. Employment Law

Employment law is a complex and ever-changing area. A business law solicitor will ensure your business complies with employment laws, helping to prevent disputes and protect you from potential claims.

4. Intellectual Property

Protecting your intellectual property (IP) is essential, especially in a competitive business environment like Leicester where innovation in areas such as engineering, aviation, automotive, and technology, thrive. A business law solicitor can help you register trademarks, copyrights, and patents, as well as manage any disputes that arise over IP rights.

6. Dispute Resolution

Disputes are an unfortunate reality in business. Whether it’s a contractual disagreement, a shareholder dispute, or a problem with a supplier, your commercial law solicitor can help you resolve the issue efficiently. If mediation fails, they will be there to help if things escalate to the courts.

7. Regulatory Compliance

Noncompliance can result in some serious penalties and a loss of reputation, so it’s essential to have legal guidance should something go wrong.

Your business must operate within the law or there could be some very dire consequences. The resulting loss of revenue, the damage to your reputation, and the time and financial costs, can bring your business to a standstill… and even result in closure.

As well as statutory law English business law is shaped by case law. Legal principles are developed through judicial decisions in courts. This means that business law is dynamic, it is an evolving process, adapting over time to new developments in the business environment. Throughout Leicestershire and throughout the UK, businesses are reliant on their commercial lawyer to ensure they are compliant, legal and operating properly.

It is not overstating things to say that if you are in business in Leicester, or anywhere else for that matter, a business lawyer is a necessity.

Looking for the best business lawyers in Leicestershire? 

Then get in touch today. We’ll review your message and seek out the best person at the right law firm in Leicester to handle your matter.