How important is a business lawyer?

 

Simply put, business lawyers can assist with every aspect of running your business. At a business’s inception they can be instructed to draft relevant documents, fill in forms, assist with the registration of the business and give advice. If you are setting up a company, for example, your solicitor will tell you about the advantages and disadvantages of this form of business and explain your obligations as a director of a company. You may decide that the requirement of publishing accounts may not be suitable and you may decide on starting your business in a different form.

If you do decide to start a business as a company, your business lawyer can assist you with forming a company, or purchasing a company that is already set up. If you wish to set up your own company then a number of documents must be sent to Companies House - the registrar for companies. The documents include a memorandum giving details of subscribers; the articles of association; a statement of proposed officers; a statement of capital and initial shareholdings and an application for registration. The law regarding the documents which must be sent to Companies House has recently changed and your business lawyer will be able to give you some advice on these changes. One of the most important documents to be sent off is the articles of association - this document lists the rules that the company must adhere to. Although there is a standard template for these rules, this does not have to be used at all, or in its entirety. You will need to take advice on what the articles should include.

If you would like to obtain legal advice on business law, Contact Law can put you in touch with a local specialist business lawyer free of charge. So, if you have any questions or would like our help in finding local business lawyers please call us on 0800 1777 162 or complete the web-form above.

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