“Are commercial and corporate law the same?” is an oft-asked question. In the business world, corporate and commercial laws both have a part to play. Together, they lay the foundation for the business’s operations and allow companies to carry on successfully.
Are Commercial and Corporate Law the Same?
Commercial and corporate laws are both concerned with business but focus on different aspects. Corporate law is concerned with the business’s functionality, such as its day-to-day operations, structuring, and mergers and acquisitions.
Some topics that fall within corporate law are:
- Creating and incorporating a business
- Merging or acquiring with other businesses
- Distributing profits
- Winding up the corporation
- Capital investments
Commercial law is concerned mostly with commercial transactions, which covers matters such as:
- Property leases
- Employment contracts
- Leasing commercial property
- Consumer law
- Intellectual property
Commercial and corporate laws are not the same, but both practices are essential for a business’s operations and growth. Corporate and commercial matters are often intertwined, which is why you need a legal partner that can provide quality advice and guide you on all aspects of your business.
When Should You Consult a Commercial Lawyer vs. a Corporate Lawyer
If you are starting a business, looking for advice on how to structure your business, or want to complete a merger or acquisition, it’s advisable to approach corporate lawyers. In addition to guiding you, regarding the law, they can advise you on how to grow your business sustainably, maintain control, and mitigate risks.
On the other hand, if your legal matter has to do with the sale and purchase of property, conducting transactions, or meeting regulatory requirements, a commercial lawyer is the right legal support for you.
Both corporate and commercial matters can encompass a wide range of other issues, such as contracts, employment, insurance, and more. In that case, you may need assistance from other legal specialists as well.
It’s why working with a full-service corporate law firm is advisable. You will have access to the expertise you require in one place, meaning you will receive cohesive legal advice and a single unified strategy to resolve your concerns.
Laying the Foundation for a Successful, Sustainable Business
Experienced legal advisors can help you minimize risks and maximize opportunities. Here are a few things lawyers can help you with:
- Hiring, retaining, and letting go of staff
- Advising on the business model to ensure steady cash flow
- Guiding you through compliance requirements
- Putting in place effective governance structures
Resolve Issues Efficiently, Mitigate Risks, Grow Sustainably
At Lancaster Chown & Welch LLP, our lawyers are trusted advisors for small businesses and some of the Niagara region’s top businesses. You will work with a knowledgeable, approachable team that spends time understanding your matter and your priorities.
We are a corporate law firm that shares your entrepreneurial spirit and helps you reach positive legal outcomes. Book a complimentary, no-obligation consultation to discuss your matter with an experienced lawyer.