A transactional lawyer specializes in the legal aspects of business and commercial transactions. Unlike litigators who represent clients in court, transactional lawyers focus on advising clients and preparing documents related to business activities. This includes drafting, reviewing, and negotiating contracts, ensuring compliance with laws and regulations, and providing advice on the legal implications of various corporate and financial transactions.

Transactional lawyers often work on deals like mergers and acquisitions, corporate restructuring, and finance arrangements. Their work also involves conducting due diligence, which means scrutinizing the details of business deals to identify potential legal risks and advising on how to mitigate them.

A transactional lawyer acts as a legal advisor for businesses, helping them navigate the complex legal landscape of commercial operations. They are integral in ensuring that transactions are executed smoothly and in compliance with all applicable laws, thereby safeguarding the interests of their clients. Their expertise is essential in drafting clear, precise legal documents that align with the client's business goals while minimizing legal risks.

Whether to incorporate your business depends on several factors including your business's size, type, liability exposure, tax considerations, and growth plans. Incorporation offers distinct advantages:

Limited Liability: As a separate legal entity, a corporation can own property, incur debt, and be sued independently of its owners. This means your personal assets are generally protected from business liabilities.

Tax Benefits: Corporations often benefit from lower corporate tax rates compared to personal income tax rates. There's also the potential for tax deferral and the ability to deduct certain expenses.

Raising Capital: It's typically easier for a corporation to raise capital through the sale of stock.

Perpetual Existence: Corporations continue to exist even if the owner changes or passes away.

However, incorporation involves costs, formalities like preparation and maintenance of minute books, including annual filings, directors consents, resolutions, share subscriptions, etc. Your decision should align with your long-term business goals and legal considerations. Consulting with a lawyer and accountant is highly recommended to make an informed decision tailored to your specific situation.

Structuring your business involves selecting an appropriate legal form based on your business needs, goals, liability concerns, tax implications, and financing requirements.

Here are some common business structures:

Sole Proprietorship: This is the simplest structure, where one individual owns and operates the business. It's easy to set up and offers complete control, but there's no legal distinction between the owner and the business, meaning personal assets are at risk.

Partnership: This involves two or more people sharing ownership. Partnerships can be general, where all partners share liability and management, or limited, where some partners have limited liability but also limited control.

Corporation: A more complex structure, where the business is a separate legal entity from its owners. This offers liability protection but requires more extensive record-keeping.

Professional Corporation: Specific for professionals (like lawyers, doctors, accountants), this structure offers similar benefits to a corporation, such as limited liability and tax advantages. It's tailored to meet the needs of professionals who must adhere to their profession's regulatory body.

Joint Venture: This is a business arrangement where two or more parties agree to pool their resources for a specific task, project, or business goal. It is often temporary and focuses on a single business transaction or a series of transactions. The right structure for your business depends on several factors, including:

-Liability exposure

-Tax implications

-Investment needs

-Type of business

-Number of owners

-Future growth plans

Consulting with legal and financial professionals can help you determine the most suitable structure for your specific business, considering the legal and financial implications.

Our lawyers generally charge hourly but may charge a flat fee for the required work to be done. It will vary depending on the complexity of your legal issue. During your initial free consultation, we will address our legal fees.