Corporate law firms assist clients with the formation of a business, mergers, acquisitions, and other tasks to help businesses grow.
In a law firm, one or more lawyers work together to represent the interests of their clients. For any business, a corporate law firm can offer assistance with all legal aspects such as incorporation, shareholder agreements, contracts, real estate purchases or lease, financing, and litigation.
It is important for a business to find the right law firm to handle legal challenges or provide legal counsel.
How do you choose a corporate law firm for your business? What factors do you need to consider?
Read on to know the criteria for selecting the right law firm for your needs. You can also request quotes from JuriGo’s network of business lawyers, free of charge.
Just fill out the short online form on this page to connect with corporate law firms in your area.
Factors to Consider when Selecting a Law Firm
Selecting the right law firm for your business in Ontario can be challenging. There are more than 57,000 licenses issued to lawyers in the province. How do you find the best one for your business?
Before we discuss the criteria you must consider, you need to keep in mind the significance of this choice. Your lawyer will be tasked with protecting your assets, your business interests, and practically making sure that everything in the business is compliant with the law and runs smoothly.
The most crucial factor to consider when looking for a law firm is their expertise in working with a business that is similar to yours.
The law firm must be knowledgeable about the industry you belong to. For instance, there are business lawyers or law firms that specialize in startups or technology companies.
Aside from their expertise and experience, you should also think about:
- Credentials and accomplishments
- Track record and reputation
- Compatibility
- Client Reviews
- Fees
Lawyers in Ontario must be licensed by the Law Society of Ontario. To check the firm’s level of competence, you can always research awards or recognitions the lawyer or law firm has received, how long the firm has been operating, and the clients they have.
You may also consider whether you prefer a boutique or medium-sized law firm or a large one.
Solicitors, Barristers, and Lawyers: Are they all the same?
In Ontario, lawyers are also barristers and solicitors. They can handle all aspects of the law as well as litigation. Most lawyers choose to specialize in some areas of the law and they are free to choose what types of legal services to offer.
Because lawyers in Canada can be barristers and solicitors, most legal professionals use both these titles, especially those in general law practice.
There are law firms that work in several legal areas such as criminal, civil, business, or family law. Some law firms may choose to specialize in personal injury law.
Businesses require a corporate or business lawyer that can handle employment law, civil law, real estate law, tort law, etc.
Find a law firm in Ontario that provides full advice and expertise in business law to help you in all aspects of transactional matters or litigation.
Are you ready to compare law firms? Just fill out the short online form on this page with no obligation or cost.
Transparency of Fees and Disbursements
With any business, cost is always an important criteria and it is the same for choosing a law firm.
The law firm you hire must be within your budget. Be sure to find one that is transparent when it comes to fees and disbursements.
Fees must be specified in a written retainer agreement. Lawyers in Ontario must follow strict rules set by the Law Society of Ontario for fees and disbursements. They must be fair, reasonable, and communicated to the client promptly. If a lawyer or firm advertises legal fees on their website, disbursements, taxes, and other third-party charges must also clarified.
Before signing a retainer agreement, make sure to understand the lawyer’s fees and disbursements.
How much do corporate or business law firms charge in Ontario?
Ontario lawyers usually charge hourly rates for their services.
These rates differ from one lawyer or law firm to the next depending on their expertise, reputation, and track record. They range from $250 to $500+ an hour. The cost of your legal services will also depend on how many hours a lawyer will work on your business matter.
Lawyers can also offer flat fees for specific services such as business incorporation or reviewing a contract. Other types of services include:
| Type of Legal Service | Average Rate |
|---|---|
| Incorporation in Ontario | $1,000 to $1,500 (with HST) |
| Federal Incorporation | $1,500 to $1,750 (with HST |
| Standard Shareholders’ or Partners’ Agreement | $1,500 to $2,000 plus disbursements |
| Asset Purchase/Sale | $1,500 to $2,000 + HST$8,000++ for closing of transaction |
| Business Name Registration | $300++ plus disbursements plus HST |
| Updating of Corporate Minute Book | $800 + HST + disbursements |
| Commercial Lease Review | $700 - $2,000 + disbursements+ HST |
Bigger and more prestigious law firms generally charge higher rates than smaller firms.
Expect to pay other fees
What are disbursements? Disbursements are charges in addition to legal fees which may include title searches, checque certification fees, execution searches, tax certificate fees, photocopies, faxes, courier services, etc.
For real estate transactions, lawyers’ fees vary depending on the nature of the transaction.
To get actual rates to compare, please fill out the short online form on this page. Take advantage of FREE and NO OBLIGATION offers from experienced lawyers in your area.
Check the law firm’s fees and billing structure from the start to avoid surprises.
Corporate & Commercial Law: Specializations of Law Firms
Depending on the nature and size of your business, there are many legal services offered by lawyers specializing in corporate and commercial law.
These include but are not limited to:
- Amalgamations & Dissolutions
- Business Formation
- Legal Disputes
- Legal Opinion
- Commercial Contracts
- Cannabis Law
- Employment Law
- Franchise Law
- Leasing
- Buying or Selling a Business
- Joint Ventures
- Family Trusts
- Business Startups
- Trademarks
If you need help with any of these legal concerns, you need a reliable and experienced lawyer from a corporate law firm to assist you.
You can start comparing lawyers and law firms in our vast network by filling out the short online form on this page at no cost!
FAQS on Corporate Law Firms & Their Services
Whether you are a newly-established business or been operating for many years, you need a good corporate law firm to handle the legal aspects of the business.
If you are looking to hire a corporate or business lawyer for your business, the following FAQS can help you find the right one for your needs.
What does corporate law in Ontario include?
Corporate law practice in Ontario covers the creation, governance, and structuring of business entities and business transactions like the sale or purchase of assets, contracts, and many more.
Many business activities such as selling a business, purchase of real estate, drafting of shareholder agreements and commercial contracts will require the participation of a legal expert.
Are all lawyers qualified to practice corporate law in Ontario?
All licensed lawyers in Ontario can provide legal advice regarding Ontario laws. Paralegals can only give advice on certain specific legal issues.
While all lawyers have the training and credentials to handle all types of legal issues, many of them choose to specialize in specific fields of law. Corporate or Commercial Law Firms specialize in the legal requirements of businesses and have in-depth experience in dealing with the legal aspects of a business.
Do I need a corporate law firm for my business start-up?
If you have a business, hiring a lawyer to ensure that your business is set-up for efficient tax planning is ideal. A lawyer can also help you with personal assets and liabilities, contracts, and tax-related concerns.
Do I need to hire a corporate lawyer from the start?
Running a business is exciting but it can also be overwhelming. It comes with legal issues and risks.
Every business owner must comply with the laws and regulations in Ontario. Hiring a lawyer from the start will ensure that your business is properly structured based on your business goals and help you to mitigate your risks.
What are the most common legal issues that businesses face?
Most businesses at one point will encounter issues regarding contracts, employee disputes, partner or shareholder disputes, unpaid invoices, and many more. Having a lawyer for your business will help you settle disputes efficiently and mitigate other risks.
Is a corporate lawyer necessary to prepare a contract?
It is not required that a contract be written by a lawyer. However, a lawyer is the best person to prepare a contract to establish legally binding obligations. A business owner who drafts his own contract could become involved in an expensive lawsuit in the future. Business lawyers are knowledgeable in drafting contracts that don’t leave room for misinterpretation or doubt.
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