When you start a business – and forever after – you need property to conduct it from. This means you have to either purchase a suitable property or lease it. Many businesses lease, as it is an affordable alternative to purchase and especially good if they want to move their location in the future. Both purchasing property and leasing it require legal assistance to ensure the contract for sale or for lease is fair and works in your favour.
You should never sign any kind of contract without having it examined by a lawyer who works for you, not for the other person. Contracts are not always easy to understand especially if a lot of legal jargon is used. In fact, many people either misunderstand what certain terms mean, or they don’t realise exactly what implication a certain statement has for their business, especially if they have had no experience. This allows the other person to get the upper hand and can easily mean you are being treated unfairly. And that means life is going to be harder for you – usually in the area of finances.
Contracts are difficult or impossible to get out of once they are signed, so it is essential to have a lawyer or solicitor look over yours before signing on the dotted line. Even signing a document that has a blank space on it can cause you a great deal of trouble if the other person is not trustworthy and adds something in the space after you sign it. It’s a sad fact of life that these things can and do happen, but not when you have trusted lawyers to make sure things are done legally and are not against you.
Even if you don’t buy, but rent the premises, there will be contracts to sign and one that is made in the landlord’s favour won’t be the best for you. There are many different parts to a lease that can see you paying more than your fair share of additions while your business expansion may be limited to what you do or sell at the moment of signing. If you want to expand later on by offering another service or different goods, you may not be allowed to, due to the terms of the lease.
Property law also encompasses intellectual property which includes your business name and logo as well as advertising. It’s important that you don’t accidentally use the name or logo of another business. And it ‘s important that your unique business name and logo are properly registered to you so that no one can steal them or use them accidentally. Your commercial lawyers can quickly see to this aspect of your business by looking up the many business registers to make sure what you’ve chosen isn’t already taken.
This may seem easy, but you have to know where to look and it takes a long time to go through each one. You are better off leaving this chore to the experts while you see to some of the many other things needed to get your business up and going. Forming a close business relationship with your legal firm will ensure your business avoids any potential problems and can go ahead successfully. Our boutique law firm offers many services for commercial business and we take a proactive approach to our clients’ needs.