Chicago Commercial Lawyer
Illinois Business Attorneys
Watching your business grow is a gratifying experience, but can also be overwhelming. As your business expands, you need to ensure it complies with more regulations and that it is protected from external risks. A commercial attorney can help you handle the required documentation, manage transactions, and navigate the complex world of business law to ensure there are no loose ends.
With more than 13 years of experience in business law, our Illinois corporate attorneys will guide your steps, develop strategic solutions for your business, and minimize any risk to ensure your business is prepared for success each step of the way.
Motiva Business Law Offers
- National and International Transactions
- Business formation
- Franchise Formation
- Commercial contracts
- Employment agreements
- Mergers and Acquisitions
What is commercial law?
Commercial law is the law of transactions between businesses. It includes contracts, and government regulations. There are many laws that govern commercial law, depending on what kind of deal it is and where the parties are located. At an international level, certain treaties can govern, and locally, common law or the Uniform Commercial Code.
Each state has its commercial laws, and Illinois is not the exception. As a Chicago business owner, there are specific rules you need to comply with when it comes to starting a corporation, writing business contracts, following regulations, or franchising your business. An Illinois commercial attorney will help you make informed decisions and protect your business from its creation to its international expansion.
Can a Commercial Lawyer help me?
If you want to start a company or are a business owner who looking to get involved in a transaction, the assistance of a commercial lawyer can protect your interests and help your business operate smoothly within the boundaries of the law. The following are some of the situations in which a business lawyer can provide legal support:
Business Formation
When starting a business or incorporating, a corporate attorney will help you select the best business entity for tax-saving and expansion purposes, assist with your business registration, ensure you comply with the regulations of your industry, and handle the necessary paperwork.
Business Fundraising
If you need financing for your business or want to invest in one, a commercial attorney will draft, review, and negotiate stock purchase agreements, SAFE Agreements, and convertible notes, ensuring you comply with US and Illinois securities laws, evaluating the risk of the investment, and working to minimize any negative impact it may have.
Corporate Governance
As a business owner, you want to ensure your business has well-defined operations and that the members of your organization clearly understand their rights and obligations. A commercial attorney will draft and review internal documents, such as operating agreements, corporate bylaws, and shareholder agreements.
Business contracts and legal documents
When looking to expand your company, you will need binding commercial contracts that clearly define the roles of the parties, the profit distribution scheme, and dispute-prevention procedures to protect your interests. A business contract lawyer will handle a variety of agreements, including commercial leases, master service agreements, and statements of work.
Mergers and Acquisitions and Business Transactions
Buying a business involves a series of steps that need acute attention to ensure a smooth and seamless business transaction. Either on the buy side or the sell side of the negotiation, a commercial attorney will assist in writing the letter of intent and NDA, conducting due diligence, and drafting the purchase agreement to ensure the best interest of the client.
Franchising
Whenever you want to start your own franchise or enter a franchise agreement, an attorney will ensure your investment is profitable, your rights are protected, and you comply with Illinois franchise law. A franchise attorney will write, review, and negotiate franchise agreements, FDDs, and multi-unit franchise agreements.
Employment
Ensuring compliance with labor law and having sound employment agreements is key to preventing legal disputes and lawsuits. A corporate lawyer will write independent contractor agreements, non-competes, and employee contracts to ensure your company has a fair working environment.
Privacy Laws
Having a website is a great way to connect with your customers and portray your products and services. However, you need to ensure that you comply with national and international data privacy laws. A technology attorney will draft your privacy policy and terms and conditions agreement to comply with GDPR, CalOPPA, and other privacy laws to avoid penalties and lawsuits.
Why does your business need a commercial lawyer
Regardless of the nature of your business, counting on a commercial lawyer is a powerful tool for the following reasons:
- Make informed decisions: Before investing in a deal, ensure you understand the implications of the agreement and that the terms are written in your best interest.
- Prepare your company for expansion: If you are aiming high, you need to make sure your company is ready for whatever comes. A commercial attorney will help you structure your business so it can easily attract investors and continue growing.
- Avoid disputes and legal issues: Prevention is your business’s best ally. With the right contracts and protection measures, you will avoid lawsuits and save time and money in disputes.
Contact Motiva Business Law’s Commercial Attorneys
Taking care of your business is already a huge weight on your shoulders. Don’t let legal issues use the space in your head that you could use to make the most out of your company.
Motiva Business Law’s commercial attorneys will help business owners protect their company from its formation to its expansion. Our skilled professionals provide specialized legal advice in setting up the business, assisting in choosing the most appropriate legal structure, and completing the necessary documentation.
Additionally, our attorneys review and draft contracts to ensure the business’s interests are safeguarded in all commercial transactions. For business expansion, our experienced lawyers can assist in mergers, acquisitions, and legal strategies to protect the company during its growth.
Motiva Business Law’s commercial attorneys are key allies in safeguarding the interests of businesses like yours and ensuring your company operates within a strong legal framework.
Contact us to schedule a consultation with our commercial attorneys at (630) 517-5529.
Commercial Law FAQ
A commercial attorney helps companies navigate the complex legal landscape to ensure compliance with regulations and to protect their interests. Also called business lawyers, they specialize in providing advice and assistance to businesses on a wide range of corporate matters, such as contracts, business transactions, mergers and acquisitions, franchises, employment law, and other legal aspects related to running a business.
Although it is not legally required for a lawyer to write a contract, an attorney will ensure that your agreement is valid, it has fair terms, and it protects your interest. The experience of a commercial attorney will allow her to foresee potential risks and add provisions to minimize them.
Selling your business without a lawyer can bring serious consequences, such as:
- Improper documentation: You risk signing unbinding contracts and not having the necessary paperwork to adequately transfer the ownership of your business to the buyer.
Legal compliance issues: Selling a business involves complying with various laws and regulations. A lawyer can ensure that the sale is conducted legally and in compliance with all relevant laws, avoiding fines or legal penalties.
Financial risks: You may sell your business at a lower price than its real value or, if deciding to finance the business, you may not acquire the full payment for your company. Besides, you risk failing to comply with your tax obligations.
Disputes and litigation: Without legal representation, you may be more vulnerable to disputes with the buyer, employees, or other stakeholders. This could result in costly litigation and damage to your business reputation.