The impact of having proficient commercial lawyers in London on your business.

Generally in a big corporate firm, there will be corporate practice and litigation. I won’t delve into what litigators carry out, but I will point out the two practices are very different and both should be explored if possible during articling. Litigation generally involves a lot more legal research and writing whereas most of the everyday work in a corporate practice does not involve arguing the law.

Under the usual heading of “corporate” there are several major areas of practice such as mergers and acquisitions, real estate, corporate finance, and insolvency and banking. There are also common tasks that a junior lawyer will be asked to do. These tasks are generally applicable to all corporate practice regardless of the area of practice.

There are many commercial lawyers in London who work day and night just to fulfil the needs of firms all across the UK. However, many people remain unaware of their importance in any firm. So, let’s find out what these lawyers are meant to do.

Due Diligence

Due diligence is one of those buzzwords we’ve all heard of, but what does it actually mean? In corporate practice, due diligence can be thought of as fact finding. For M&A transactions, this usually means reviewing and summarizing contracts. Students will be given a contract summary template to follow and be instructed to provide summaries of the contracts they are given to review. The role of the junior is to spot and highlight any issues they see in those contracts. The summaries will then be reviewed by a more senior associate and complied into a diligence report.

For corporate finance, diligence could involve work such as finding proof of certain statements made in a prospectus or researching past company filings and disclosure documents. Due diligence encompasses any work that can be considered “doing homework” on the companies involved in the deal. The goal of diligence is to help the client find out as much information as possible. The information found through diligence will help clients make decisions such as whether or not to buy a company.

Drafting

Eventually, juniors may be called on to do basic drafting of documents. Often junior commercial lawyers in London will be tasked with drafting documents such as officer’s certificates, director’s resolutions, or other deal documents such as receipts or consents. Juniors may also be asked to draft parts of disclosure documents including documents that will get filed publically such as a material change report, or used privately such as securities offering memorandums.

For the most part, when you are provided a drafting job there will already be precedents and model language for you to work from, which you will need to adapt to the current deal. Drafting is an exercise in creative rewording and therefore looking for precedents from previous deals similar to the one you are working on is an excellent starting point. 

Qualities of good immigration law firms in London.

When you are managing immigration concerns and are ready to hire an attorney to help you with your case, you come across a lot of options when it comes to legal professionals – maybe even too many. In fact, knowing who to hire and trust with your sensitive immigration matters can as overwhelming as it may be stressful, especially considering the fact that choosing an under-qualified lawyer could:

·         Directly affect the result of your case.

·         Cause your immigration matters to be needlessly delayed, which could have other grave impacts on your life.

Here is a list of qualities that you should keep in mind while looking for immigration law firms in London. Keeping these qualities in mind as you research and meet with possible lawyers can help you choose the best legal professional to oversee your important immigration matters.

Experience – Immigration law is a complicated field, and the processes associated with different types of immigration affairs can be just as complex. As a result, having an immigration attorney who has experience handling various types of immigration matters is crucial to making sure that your case is resolved as efficiently (and beneficially) as possible. You may be able to find out how much experience an attorney has with immigration cases by looking through his website. If you can’t readily find information regarding a lawyer’s experience on his website, you may also want to call that lawyer directly to ask about his experience handling immigration cases similar to yours.

Glowing Record with the State Bar Association – If any attorney has ever been censured or had formal complaints filed against him by, for instance, former clients, records of these matters will be recorded and kept by the state bar association. If you are considering hire a lawyer to handle your important immigration affairs, checking with the state bar association first is a good idea because it can confirm the lawyer’s experience while also possibly alerting you to any professional problems a lawyer may have had in the past.

Remains accessible to you as your case progresses – This quality falls in line with communication skills, as it generally requires that you are able to get ahold of your lawyer when you have questions, need advice and/or simply need reassurance about your case. While it’s not necessarily reasonable to assume that an attorney will always be available to pick up your call the moment you place it, it is reasonable to expect your lawyer to get back to you within a few days. If a lawyer has a history of not getting back to his former clients (which you may learn about from client testimonials, for example), then be careful about moving forward with that attorney, and continue shopping around for another lawyer.

Honesty – At the end of the day, you need to be able to trust your immigration attorney, rely on him to tell you the truth about your case at any given time and give you clear, upfront advice regarding your options when your case hits roadblocks (or any challenges).Getting a sense of a lawyer’s integrity and honesty may come by meeting with him during an initial consult (as well as by reviewing client testimonials to see what his former clients have to say about his honesty). If during this meeting, you are not totally comfortable with the answers or impression you receive from a lawyer, it’s best to look for immigration law firms in London that you find fully comfortable.

What is commercial litigation and the role of commercial litigation solicitors in London?

While the United States and the United Kingdom (this article focuses on just England and Wales) both have common-law civil justice systems, their particular procedural rules, practice conventions, and public policy pressures (whether current or historical) provide their litigation landscapes major differences.

The U.K. Civil Litigation System

The Civil Procedure Rules 1998 (as amended) has fixed the procedure for civil litigation in the United Kingdom. Their keystone is the superseding objective that all cases must be dealt with impartially and proportionately to the amount of money at stake, the claim’s standing, the complexity of the issues to be decided, and the relative financial positions of the parties.

There is a strong incentive on the timely identification of the concerns in dispute through pre-action correspondence, and the parties are encouraged to resolve their grievances at an early stage without the need for trial. A party may be penalized in costs for unreasonably refusing to engage in settlement discussions, and, at certain stages of the litigation, the parties are required to inform the court if any settlement discussions have taken place or are pending, although the content of any discussions remains confidential between the parties.

While the court typically cannot force the parties to mediate, mediation is commonplace. Court-arranged mediation is available in some low-level disputes, and there is an ongoing debate as to whether mediation should be made a compulsory step in all claims.

Arbitration is also used widely, and London is a leading global center. Just as the United Kingdom’s judges have a reputation for their high quality and independence, so do its commercial litigation solicitors in London who have the ability to deal with the most complex of commercial disputes.

Irrespective of the case type, all litigation involves the similar main procedural stages.

Statements of Case (Pleadings)

The claimant serves written particulars of claim, setting out the facts and law upon which it relies, along with the remedies sought. The defendant serves a defense and counterclaim if it has one. The claimant can serve a reply to the defense and a defense to the counterclaim. In contrast to notice-pleading jurisdictions in the United States, the claimant in England is expected to set out its case in reasonable detail in its pleadings, with reasonable grounds and evidence to plead fraud, before the discovery phase.

Disclosure (Discovery) of Documents

Litigants’ disclosure rights and obligations are not as extensive in the United Kingdom as they are in the United States, where the parties are obliged to make substantial oral and documentary disclosure at the outset of a matter.

The U.K. court will make an initial order for the standard disclosure of documents. A party must carry out a reasonable search for and disclose all documents that are or have been in its control, documents on which it intends to rely, documents that adversely affect its case or that of another party, and documents that support another party’s case. Unlike in the United States, background or “train of enquiry” documents are not disclosable except in exceptional circumstances. A party may make an application for the specific disclosure of documents or classes of documents if necessary. A party may also seek the disclosure of particular documents by a third party, where it can show that it is in the interests of justice to do so.

Choosing from the best commercial law firms in London is vital for any business.

There are two work profiles any business of any size will need definitely: an accountant and a lawyer. The reasons for hiring an accountant are quite obvious--you need a person to help you set up your "chart of accounts," check your numbers occasionally, and make all of your necessary federal, state and local tax returns. The reason for hiring a business attorney may not, however, be so apparent. A good business attorney will provide vital assistance in almost every aspect of your business, from basic zoning compliance and copyright and trademark advice to formal business incorporation and lawsuits and liability. First, some general rules about dealing with commercial law firms London.

If you are being litigated, it's very late. Most small businesses put off hiring a lawyer until the sheriff is standing at the door serving them with a summons. Bad mistake. The time to hook up with one of the commercial law firms in London is before you are sued. Once you have been served with a summons and complaint, it's too late--the problem has already occurred, and it's just a question of how much you will have to pay (in court costs, attorneys' fees, settlements and other expenses) to get the problem rectified.

Big firm or small firm? Usually speaking, the larger the law firm, the greater the overhead, therefore the higher the hourly rates you will be expected to pay. Still, larger firms have a number of advantages over smaller ones. Over the past 20 years, lawyers have become incredibly specialized. If you use a solo practitioner or small firm as your lawyer(s), it's likely that they will not have all the skills you may need to grow your business. I don't know of any solo practitioner, and very few small firms (under 10 lawyers) that could handle your lawsuits, negotiate your lease of office or retail space, file a patent or trademark, draft a software license agreement, advise you on terminating a disruptive employee, and oversee your corporate annual meeting. Sooner or later, these "generalists" will have to refer you out to specialists, and you will find yourself dealing with two or three (or even more) attorneys.

Are you experienced? Don't be hesitate to ask direct questions about a lawyer's experience. If you know you want to incorporate your business, for example, ask if he or she has ever handled incorporation.

Are you well-connected? Your business attorney should be something of a legal "internist"--one who can diagnose your problem, perform any "minor surgery" that may be needed, and refer you to local specialists for "major surgery" if needed. No lawyer can possibly know everything about every area of law. If your business has specialized legal needs (a graphic designer, for example, may need someone who is familiar with copyright laws), your attorney should either be familiar with that special area or have a working relationship with someone who is. You shouldn't have to go scrounging for a new lawyer each time a different type of legal problem comes up.

Do you have other clients in my industry? Your attorney should be somewhat familiar with your industry and its legal environment. If not, he or she should be willing to learn the ins and outs of it. Scan your candidate's bookshelf or magazine rack for copies of the same journals and professional literature that you read. Be wary, however, of attorneys who represent one or more of your competitors. While the legal code of ethics (yes, there is one, believe it or not) requires that your lawyer keep everything you tell him or her strictly confidential, you do not want to risk an accidental leak of sensitive information to a competitor.

The evolution of legal firms in London.

Among various key areas in any country’s progress, law holds an important position and paves the way for sustainable growth altogether. However, over the years, the domain has witnessed monumental changes in the way legal firms in London work and serves their clients.

For example, the times when a firm’s name alone could invite new clients are long passed and the importance has moved to the expertise of the people employed to deliver the legal services.

According to the latest study which classifies a ‘new breed’ of lawyers who are ‘networked, innovative, often niche specialists who’ve set up their business to compete directly with major industry players’. ‘The specialist practitioner’, however, is not a new concept. More than 28% of legal practices are managed by sole practitioners or sole directors – majority of whom provide a place legal service.

Therefore what options are ready to you if you are a legal expert? Some of you will progress to partnership at your legal firms in London but others, like others, will set up their own firms in their respective domain of specialism.

As legal firms in London choose to merge or close, the strains for niche legal practices will rise to occupy the ‘advice deserts’ that have started to appear. The black hole that will be left by cuts to legal aid will also need to be filled by those who can provide a legal service on a cost-effective basis.

Niche firms have lesser overheads and can give a local and national service as they craft on their specialism, not their locality. This not only fills the gaps that are being left by the collapse of firms in big cities such as Birmingham and Manchester, but also addresses the unmet need that has been present outside London for a number of years.

Niche firms are set to work on a national level at lower cost, weakening the prices of national firms and still be able to survive and flourish. It is no longer ‘the bigger you are, the better you are’. It is more like ‘the bigger you are, the harder you fall’. The legal market is looking out for new entrants to fill the void and the Solicitors Regulation Authority is supportive of expert practitioners setting up their own firms. There seems to be a movement by the regulator to promote entrepreneurial lawyers to take the plunge and be the future leaders of the legal profession.

It is feasible for specialized legal firms in London to manage risk to clients, the law firm and the legal profession if the firm is run by specialist experts. This could be because, with a risk-based phenomenon, it is less risky to deliver legal services through conventional law firm structures than business models that rely on private equity funding or branding of a large corporation.

The long-term sustainability of the legal profession will be down to the entrepreneurial lawyers who have studied law, worked in law and are able to manage the law. They will be the ‘stars of the legal services revolution’ and their credentials outstrip those entrants who buy into law to build a profit.