How to use a company lawyer

 

Company lawyers, as their name suggests, have extensive knowledge of business law. All businesses should have access to legal representation when they need it. Since the last phase of the implementation of the Companies Act 2006 was completed on 1 October 2009, company law solicitors have become even more important.

The Act makes many changes to how companies operate, and company law solicitors can help you interpret the Act in relation to your business.

What does a company lawyer do?

Company lawyer may give you advice on aspects of company law such as:

  • Company formation
  • Company reporting duties
  • Company accounting duties
  • Director's duties
  • Meetings and voting
  • Shareholder's rights

As no two businesses are the same, the legal skills your business may require will be unique. Company law solicitors tend to concentrate on either one aspect of business law, or a few closely related aspects. Good examples include tax and contract law.

If you have a specific legal requirement, try and match this to the right company law solicitor in your area.

Before you hire a firm of company law solicitors it is always a good idea to check their credentials. The Law Society of England and Wales must accredit all solicitors working in England and Wales.

Why use a company lawyer?

Using a company lawyer can be invaluable if you have any special requirements with your company formation. Forming a new company can be fast and straightforward as there are many company formation services that you can access on the internet.

A company lawyer will be familiar with the company formation process, and also with the documentation you need to complete for your business registration.

If you want to start a new business, or are currently a sole trader, you can create a new company. A company is a legally recognised entity that is different to sole trader status in that the company must be registered with Companies House. This process is called incorporation. Company status can be advantageous for tax and debt liability reasons.

A company lawyer can also be useful if you need other forms of legal advice about your business. They will tend to specialise in one area of business law. Good examples include:

  • Intellectual property
  • Tax law

As such, you should try and match your needs to a specialised company law solicitor if you can. They will usually have much more detailed knowledge of the law in the area you are interested in than a general business law lawyer.

You should also note that in this context ‘lawyer’ does not have any legal standing. Anyone can set themselves up in business and call themselves a lawyer, as there are no legal obligations. Importantly, if anyone calls themselves a ‘solicitor’, this is a legally protected term and can only be used by people that are accredited by the Law Society and have a current practising certificate.

Always check the credentials of any company lawyer before you engage their services.

Are you looking for a company lawyer to help you with some aspect of running your business, or represent you in a dispute? Contact Law can put you in touch with a specialist company lawyer who can assess your business needs and recommend the ideal course of action for any dispute. Please call us on 0800 1777 162 or complete the web-form above.

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