If you have a passion for law and are considering starting your path as a law professional, you must discover all the subfields of Canadian law to find a more suitable area of expertise. This article extensively covers one of the most popular ones, commercial law, so after reading it, you will know whether commercial law is proper for you. Find the job responsibilities of a commercial lawyer, what you should expect to be paid, how to become a commercial lawyer, and so much more. Let's get started.
What is Commercial Law?
Commercial law is the branch of private law that regulates acts of commerce, the status of entrepreneurs, the running of businesses, and commercial transactions. It deals with various areas, such as intellectual property, franchising, and litigation. As this type of law professional, you will be a great asset to businesses and companies since people will rely on you to protect their businesses, ensure their operations comply with the laws and regulations, and act in their best interest.
What Does a Commercial Lawyer Do?
A commercial lawyer is a legal professional who advises and represents businesses in various matters. From drafting and reviewing contracts to advising on intellectual property matters, commercial lawyers play a crucial role in the stability of organizations. Below, we will explore the primary responsibilities of a commercial lawyer in Canada.
1. Draft Legal Documents
As a commercial lawyer, you will interpret legal documents to protect the client's interests, ensure they maintain compliance at every stage of their operations, and ensure that the terms are clear and enforceable. Some documents you may be required to work on as a commercial lawyer include privacy policies, letters of demand, shareholders agreements, partnership agreements, cease and desist letters, and business merger agreements.
2. Ensure Business Compliance
A commercial lawyer knows the law, and businesses need them to help incorporate the laws into every aspect of their business operations. So, as a commercial lawyer, one of the most important things you will be responsible for is ensuring your clients understand what the law requires of them and maintaining compliance with their business's regulatory standards and with local, state, and federal laws and regulations. As you can see, these law professionals are crucial to avoid legal risks.
3. Address Legal Problems
It is almost impossible to run a business for many years without encountering any legal issues; even if the issues do not come from your client, they may arise from their relationship with other companies. So, as a commercial lawyer, you will need to handle every legal problem that may come up and ensure that the outcome is in your client's best interest through negotiation, mediation, or litigation.
4. Stay updated on Laws and Regulations
Whenever the government enforces new laws, you must study them and interpret them to provide guidance and good business advice for your clients. If, at any point, a business fails to comply with a new law, as a commercial lawyer, you will identify potential legal issues associated with their business operations, possible penalties, and alternatives they may have. Staying updated with current commercial legal processes in the country and informing your client's decisions will be crucial for businesses to survive.
5. Represent the Client in Court
The commercial lawyer acts as a business representative in litigation and defense. One of the major duties of a commercial lawyer is that of a legal representative for a business or organization, so you are expected to represent your client in court whenever they face legal charges or need to appeal before a judge. For example, you may need to handle disputes that may arise between businesses, shareholders, and regulatory challenges.
Are you more interested in business law? See the job description for a business lawyer.
6. Negotiate With Other Businesses
As a commercial lawyer, you will represent your client in all business negotiation processes. You have every right to make decisions in the company's best interest. In addition, your negotiation must consider all conditions that meet the business needs and comply with the laws and regulations guiding such transactions. It is also possible to be an advisor in a business negotiation when a company's executives want to negotiate independently.
7. Protect Business Properties and Asset
One of the main concerns for businesses is protecting their intellectual property rights (trademarks, patents, and copyrights), properties, and assets. However, businesses cannot do this independently and need a professional expert. A commercial lawyer will help them protect their business ideas and assets from theft and impersonation.
Is criminal law different from commercial law? Find out more about criminal law in Canada.
What is the salary for a commercial lawyer?
Commercial lawyers are some of the highest-paid lawyers in Canada, and if you pursue a career in this field, you should expect to earn well enough to enjoy a comfortable life and career. The average salary expectation for a commercial lawyer in Canada is 187,275 CAD per year, equivalent to 96 CAD per hour. However, entry-level positions can expect to earn 155,504 CAD per year, and senior-level positions or experienced workers will earn up to 249,142 CAD per year.
Would you like to know how much tax lawyers make in Canada?
Where Can a Commercial Lawyer Work?
Commercial lawyers enjoy diverse job opportunities because they can work in any sector as long as it is a business or organization that needs to comply with the laws and regulations of the country; luckily, every business or company has rules to follow.
If you become a commercial lawyer in Canada, you can work in industries such as health care and social assistance, finance and insurance, agriculture, engineering and production, art and entertainment, education, and construction.
How Can I Become a Commercial Lawyer?
Becoming a commercial lawyer in Canada requires specialized education and credentials. Therefore, you must complete a recognized law degree, pass the bar exam, and gain additional professional experience in commercial law to set yourself as an attractive candidate. Below, you will find the path to becoming a commercial lawyer in Canada.
Getting a bachelor's degree is one of the first steps to starting a commercial law career. Many employers prefer to hire commercial lawyers with undergraduate degrees specialized in law. So start by studying law at a recognized university or college; a bachelor's degree usually takes 3 to 4 years in Canada.
After earning your bachelor's degree in law or related fields, you can prepare to take the LSAT test, qualifying you to attend a recognized law school. If you pass this test, you can apply to any Canadian law school where you will receive further training to become a commercial lawyer. After law school, earning a Juris Doctor degree makes you a qualified candidate for the bar exam.
Passing the bar exam is the final certification you need to become a commercial lawyer in Canada; you can prepare for the exam by hiring a private law tutor, working at a law firm, or joining study groups for law students in your area. The exam takes place three times a year and is organized according to the standards set by your province, so you should find more details from the law society in your province.
What Skills Do You Need for Commercial Law?
Developing skills is fundamental for our professional careers. It allows us to adapt to a constantly changing work environment and stay competitive in the market. Here are some skills that can make you a better commercial lawyer and increase your chances for a promising career in Canada.
Where can I find commercial law classes near me?
Commercial law is intriguing and broad, and there is much to learn. Having all the support needed to achieve your goals and succeed as a lawyer in Canada would be best. Hence, if you have chosen to study commercial law, you should stay updated to become one of the best in Canada. You can take commercial law lessons from outstanding Canadian commercial law tutors near you. And it is easier than you think!
Contacting experts in the field is a piece of cake with Superprof. Superprof is one of the best tutoring platforms in Canada, where you can find experts in everything you want to learn—for example, legal topics concerning family lawyers or how you can prepare to take the LSAT test.
Start right now! With Supeprof, you can take law lessons online or face-to-face, set your ideal rate per class, and choose the most convenient study hours.
Pursue a successful commercial law career anywhere in Canada.
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