What’s the Difference Between Commercial & Corporate Law?
Corporate and commercial law might be closely related, but they are indeed two separate areas of law. Because their practice areas commonly overlap, it can be difficult to distinguish one from the other. Read on to learn about a few of the differences between commercial and corporate law to make sure you are talking to the right person for the job at hand.
Commercial law helps to provide a legal structure in which business is conducted. It covers a wide range of areas that go beyond the day to day operations of a company. A commercial lawyer can help you with the following areas:
- Intellectual property
- Purchasing or selling a business
- Leasing property
Purchasing or Selling A Business
Businesses are made up of many assets and properties that make buying or selling a business more complicated than say, selling a home. If the transaction is not performed correctly, you can face significant financial penalties so it’s worth your time and money to chat with a professional.
Commercial law essentially takes contract law and property law principles and applies them to commercial issues.
Corporate law is more concerned with the day to day operations of a company. Corporate law includes all legal issues that may arise from the creation of the company to its death. Some of the areas that would fall under corporate law include:
- Shareholder’s arrangements
- Joint venture agreements
- Annual tax filings
Shareholders’ Arrangement Contract
A clear contract is the key to success when establishing a relationship with shareholders. The contract should include operating procedures, shareholders’ rights and any liabilities or protections. A properly constructed contract will minimize the chance of any future complications.
Looking for Legal Help?
The team at Heritage Law is ready to help you with all your commercial and corporate law needs. Our experienced staff are able to draft and/or review your business’ contracts to ensure you total legal protection. Call to schedule an appointment today.