Commercial Lawyer NYC - Perdomo Law - Francelina M. Perdomo Klukosky
Commercial Law Firm, Perdomo Law in Manhattan New York, NY
What is Commercial Law?
This area of law regulates various rules concerning the leases of products, the sales of products, negotiable instruments, secured transactions, and much more. This law is governed by the Uniform Commercial Code (UCC), which varies by state as each jurisdiction is allowed to make its own adaptions as needed. Therefore, when dealing with the law, it is essential to consult with a commercial attorney who is adept with the UCC in your state in order to ensure your rights are protected under your jurisdiction. Some examples of commercial sectors include but are not limited to:
- Contracts
- Merger
- Bankruptcy
- Banking
- Real Estate Transactions
- Credit Transactions
- Mortgages
- Sales
- Consumer Credit
- Investment Securities
- Negotiable Instruments
- And More
Who Could Benefit from the Services of NYC Corporate Lawyers
Anyone who is involved or may become involved in the negotiation of contracts, banking, the sales and distribution of goods and services, and financing of certain transactions may be affected by the law. Some examples of professions that would benefit from a commercial law firm include:
- Landlords
- Debtors
- Real Estate Agents
- Corporations
- Entertainers
- Small Business Owners
- Actors
- Musicians
- Athletes
- Designers
- Architects
- Contractors, and more
When to Consult a Commercial Lawyer in Manhattan
Because commercial business often involves many complexities, it can lead to a breach of contract and profit losses, which can result in legal penalties in the event the other party decides to file a claim. Therefore, it is always recommended that you involve a commercial law attorney before you agree to transactions to ensure you understand the terms of the agreement and to protect your legal rights. Some situations that often require a commercial law firm include:
- Purchase, Sale, Leasing, and Financing of Commercial, Residential and Investment Properties
- When you purchase, lease, sell, or finance a commercial or residential investment property, the agreement often includes many important details that can carry serious aftereffects should you fail to meet your obligations or terminate the terms of the agreement. Not to mention, real estate transactions can be a costly investment. It is crucial that all contracts be well-planned, thoroughly written, reviewed, and negotiated by an experienced attorney who understands your needs and can assist you in meeting your goals.
- Negotiating Loans, Financing, Like-Kind Exchanges - Large investments, such as the purchase of commercial real estate, can be the most significant and riskiest endeavors your business undertakes. Consequently, not understanding or failing to compose the negotiation terms of your commercial loan properly can result in costly mistakes and unexpected expenses that can cause you to default on your loan, which can lead to legal penalties.
- Negotiate and Draft Contracts with Architects, Designers, and Contractors - As an architect, designer, or contractor, initiating a project without a detailed contract in place means that the terms surrounding your work can be unclear, which can lead to misunderstandings and disputes later. Having an itemized contract in place before you begin work will inform clients of essential details, such as invoice payment dates and the amount they are required to pay, which can help resolve any problems that may arise. It will also help protect you should the client decide to take legal action as a result of a dispute.
- Drafting Offering Plans - Without the details of a well-written offering plan, the developers, the sponsor, and its principals can be held responsible for millions of dollars in purchaser claims. A commercial law firm can help you develop and submit a well-articulated offering plan drafted uniquely for your project, which can help protect your business against purchaser complaints and lawsuits. The lawyer can also defend you as well as any principals against legal action from condominium owners and board managers.
- Counseling on Enforcement of Restrictive Covenants - As an employer, having a sound and restrictive legal agreement, which can also include non-disclosure agreements and non-compete agreements, in place is imperative to protecting your company's interests. Since laws vary from state to state, consulting an NYC Commercial Attorney who understands your jurisdiction's laws can help ensure that your restrictive agreement protects the interests of your business in your area.
- Nondisclosure and Confidentiality Agreement - Nondisclosure and confidentiality agreements (NDA) are often used in employment contracts to protect the employer from employees sharing private information acquired during the course of their employment with external sources. By having a non-disclosure and confidentiality agreement in place, it establishes a confidential relationship between the employer and the employee that can be easily enforced in court. Because drafting a nondisclosure and confidentiality agreement can be a complicated legal process, you may want to consult with a law firm that is experienced in drafting employer-employee contracts to make sure you are fully covered in the event of a lawsuit.
- Drafting and Negotiation of Employment and Independent Contractor Agreements - Because independent contractors have the independence to schedule their own hours, accept or reject projects presented to them, and decide how they perform the work as well as their production rates, they are not covered by many employment laws, such as minimum wage or overtime protection, like traditional employees. However, they do have legal claims to certain types of discrimination as well as other matters, which can be drafted in an employment and independent agreement to help protect their rights as an independent contractor.
What Could Happen if You Do Not Consult a NYC Commercial Lawyer?
Consulting a lawyer before you finalize your negotiation can help you draft an effective agreement that protects your best interests and in many cases can even help prevent deals gone wrong, which can end up in court. Contracts often contain various elements, which may or may not be based on the honesty of all parties involved, so having a lawyer review your contract can help ensure your agreement is based on a system of legal rules, so you can rest assured the terms of the agreement can be enforced by the courts if need be.
Having a lawyer draft and review your agreement can also help protect you against third-party contract issues, such as when a financial institution sells its rights to collect the loan to another entity, which in some cases can make you legally obligated to the third-party company.
Contact Commercial Attorney in NYC for a Case Assessment
We have years of experience in negotiations, drafting agreements, the distribution and sales of products, secured transactions, and more, and can provide the assistance you need to protect your business under the law. For more information on how we can help, contact Perdomo Law for a consultation.
Please contact us for a case assessment.
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