What is an Attorney’s Role in Commercial Transactions?

By Ross Keilen

The Role of a Business Transaction Attorney

For most businesses, commercial transactions are an everyday part of their operations – but did you know that without a corporate attorney, these important transactions might never come to fruition?

Here’s a brief breakdown of the multifaceted role an attorney has in a typical commercial transaction, making it easy to see why an experienced and trusted legal advocate is such a valuable part of the process.

Facilitate Client Meetings and Set Goals

In the earliest stages of a commercial transaction, a business litigation attorney will meet with you to discuss the purpose and goals of your planned commercial transaction. By discussing your desired outcome, your attorney can help make sure that the transaction is structured for the best possible result. They can also provide (or help create) useful supporting documents, such as a commercial real estate transaction checklist, to support you at every stage of the process.

Research Regulations and Consult with Specialists

When your commercial transaction overlaps with governmental regulations, legal rights, and other complex elements, working closely with an attorney is key. An excellent corporate attorney possesses a wealth of knowledge regarding specific regulations that may affect your transaction and can confirm that all agreements and terms are in accordance with any related laws. Your attorney will research relevant regulations and even consult specialized attorneys, so you can be confident that no aspect of your transaction is in breach of legal or regulatory expectations.

Draft Documents and Finalize Agreements

An experienced corporate attorney can offer valuable knowledge and expertise when it comes time to draft documents for a wide variety of commercial transactions. While business transactions can vary considerably in terms of type and purpose, nearly every one involves documents that address the specific terms and agreements each party is agreeing to.

Experienced corporate attorneys draft, edit, and finalize commercial documents such as:

  • Letters of intent
  • Due diligence documents
  • Confidential information agreements
  • Asset purchase agreements
  • Intellectual property assignments
  • Escrow agreements
  • List of creditors
  • Notice of sale
  • Disclosure affidavits
  • Loans
  • Guaranty agreements
  • Tax clearances

Although all transactions are unique, there are a handful of elements they all have in common:

  • Documents should establish each party’s responsibilities and conditions
  • The scope of the transaction must be a clearly defined, including geography, term, and exclusivity

Ultimately, an attorney can ensure that all agreement documents are specifically crafted to correctly allocate risk and protect their client against unwanted obligations or regulatory issues.

Trust Your Commercial Transaction to an Experienced Corporate Attorney in Kalamazoo, MI

Before you move forward in your next commercial transaction, it’s critical that you have a knowledgeable corporate attorney on your side. Contacting an attorney early in the process can help you avoid the common misunderstandings or obstacles that can derail a transaction, protecting you from unexpected issues at every stage in the process.

The experienced corporate attorneys at Keilen Law, PLC, are here to help you navigate commercial transactions with ease, providing the legal support you need to achieve your business goals. Because our team has worked closely with clients from all industries, serving a valuable role in commercial transactions of all types and scopes, the Kalamazoo corporate attorneys at Keilen Law are well-prepared for virtually anything. With a corporate attorney from Keilen Law managing the legal aspects of your commercial transaction, you’ll be free to focus your time and energy where it belongs: on your business.

Learn more about why you shouldn’t start your next business transaction until you’ve met with an attorney from Keilen Lawschedule a consultation with one of our expert corporate attorneys today.