What is Business Lawyer? What exactly are they? How important are they in business? These are some of the questions that would be asked by any business owner or manager, who wants to have a proper understanding about this field. Basically, a business lawyer is an expert who advises both large corporations and entrepreneurs on the existing laws, regulations and rules of their respective sectors. A business lawyer provides valuable guidance as regards both external and internal issues affecting large-scale businesses.
With the advent of internet and online business directories, business lawyers have become an essential part of the business community. They help businesses owners and managers with the registration of new business and assist with the structuring of existing businesses. Also, business lawyers provide legal advice to employees, clients and vendors. They also assist business owners with labor disputes and other employment-related matters. On the other hand, business attorneys are very helpful to corporations, providing advice on mergers and acquisitions, divestiture and corporate policy implementation.
The number of business lawyers has increased in the past few years. There are many law firms and assistant attorney service providers available for local businesses. As business has become a major industry in India, there are several organizations, which are providing services to businesses both on a long-term and short-term basis. Many attorney service providers in India to offer services for offshore businesses as well.
Business lawyers also deal with different aspects of Intellectual Property law. This includes copyright, patent, trademark, design patents and licenses for innovations. Other specialized areas of expertise that are specialized in by business law attorneys include labor law, labor policies, regulatory law, procurement law and environmental protection laws. They also offer specialized assistance in offshore business transactions, especially those dealing with offshore outsourcing.
Business law offers legal support to individuals, corporate entities and government departments dealing with commercial transactions. The need for such a specialized knowledge and understanding of Indian Corporations, business law, and International Trade Laws are evident from the increasing number of lawsuits related to business law. For instance, Indian Oceanic Container Shipping Companies has faced lawsuits related to breach of contract, misrepresentation of material facts, and piracy. Some of the companies have faced lawsuits because their ships have run aground in dangerous waters or have been stopped by authorities while traveling abroad. Similarly, there are several companies involved in business deals and negotiations with China which have faced difficulties because of the restrictive trade measures implemented by China.
Because of the prevalence of international business law firms in India, many foreigners have chosen to invest in business in India. In this regard, there are several laws relating to foreigners working in India that they may need to familiarize themselves with. For instance, businesses dealing with intellectual property may need to register and secure the relevant permits and engage in business transactions with the necessary authorities. Similarly, businesses engaged in activities related to foreign trade may need to register for permits applicable to those foreign nationals who will be coming to India to do business.