A good commercial solicitors is vital for guaranteeing the smooth operation of your business. Your commercial solicitors firm will ensure that the transactions that underlie your business’s success are legally watertight and provide you with the peace of mind that your best-laid plans do not go awry.

To help prepare you for consulting a commercial solicitors TakeLegalAdvice.com has asked a selection of commercial solicitors, available through its service, what advice they can offer.

What commercial solicitors deal with

Nicholas Phillips (right), a partner at Westminster-based commercial solicitors William Sturges, describes the work of a commercial solicitor as “setting up a business and then dealing with the contractual work over the course of its lifetime”. Kyle Irvine (below), a partner at commercial solicitor Seddons, agrees, saying that “a good commercial practice will provide a ‘cradle to grave’ service for corporate clients and their owners.”

The work ranges from commercial property to commercial acquisitions but is defined most easily as anything contractual. A few examples are given below.

Upon forming a business commercial solicitors will:

• advise on whether to trade as limited company, partnership or limited liability partnership
• advise on incorporation of the business

During the business’s lifetime commercial solicitors will deal with:

• drafting conditions of sale and conditions of purchase
• compliance
• intellectual property protection
• employment issues
• financing
• corporate restructuring and insolvency

What to look for in a commercial solicitors

Jonathan Roberts (right) of Kent-based commercial solicitors Warners says that retaining a commercial solicitors practice which understands your business is of first importance. On top of this you will also need a commercial solicitors with a broad understanding of the economy.

Nicholas Phillips distils the requirements of a commercial solicitors down to three qualities: competence, clarity and speed. Your commercial solicitor should provide good advice that is easily understood and be capable of operating under the tight deadlines that are frequently required. Phillips suggests that a judgement on these attributes can be made based on a reply through TakeLegalAdvice.com.

Kyle Irvine advises that you should also feel you are getting value for money from a commercial solicitors. “Contrary to popular belief we are interested in making our clients money and saving our clients money,” he says, “a successful law practice needs successful clients!”

How to get the most from a commercial solicitors

Nick Burrows (right), joint managing partner at commercial solicitors Blandy & Blandy, emphasises the importance of contacting a commercial solicitor as early as possible. Running things by a commercial solicitors “is time well spent” he says, potentially preventing litigation further down the line.

Kyle Irvine agrees, commenting: “The disadvantage of being instructed late on in a transaction is that we often find ourselves advising that project needs to be restructured or reconsidered.”

Jonathan Roberts also advises that strong record keeping can be useful for approaching a commercial solicitors and reminds businesses of the importance of meticulously sticking to the prepared contracts.

What a commercial solicitors should be able to tell you

Once your commercial solicitors practice is aware of all the issues, they will usually be able to give a good idea of how long it will take to complete a piece of work and how much it will cost.

When negotiating an agreement it will be more difficult for a commercial solicitors to assess how long this will take. In such cases Nicholas Phillips says that the timescale will depend on the attitude of the other side and how negotiations proceed.

Keeping the costs of a commercial solicitors down

Grahame Griffiths, of Birmingham-based commercial solicitors Coley & Tilley, points out that if you have less work done it is going to cost less. You may only have “the bare bones” of a contract when you approach the commercial solicitors or you may already have standard terms and conditions which only need checking over.

However, Nicholas Phillips warns that your ability to undertake work without a commercial solicitors will depend on how experienced you are. You can attend meetings with the other side of a negotiation without a commercial solicitor but you have to be reasonably confident to enter such a situation by yourself.

What the economic downturn means for business

Obviously the current economic downturn makes life significantly harder for all but the most fortunately-placed of business. Griffiths observes that since banks are not lending, many businesses have put any expansion plans on hold. People are waiting to invest but are deterred by “the huge amount of uncertainty” that is prevalent. Griffiths says this has generally meant less work for commercial solicitors and specifically less commercial property work.

However, litigation and employment remain buoyant areas of work for commercial solicitors. Redundancy is a particularly important issue and Griffiths warns businesses that the rules are strict and it is important to follow the correct procedures.

Nick Burrows also advises that at a time when litigation grows more likely and clients and suppliers may attempt to dodge their obligations, instructing a good commercial solicitors becomes even more important. “If you want to enforce payment your business needs to be confident that its terms and conditions stand up,” he says. “Choosing not to consult a commercial solicitor would be a false economy.”

Useful commercial solicitors links

'How an employment solicitor can help your business'

Redundancies: Employment solicitors explain how to avoid litigation