Corporate lawyer Singapore : Contract Law is the lifeblood behind commerce and is behind every handshake in the board room or any agreement written on a napkin. So you have negotiated a preliminary with your business partner and want to reduce it to writing. This is the time to engage a corporate contract lawyer in Singapore to help you crystalise your business deal into writing.
This article will set out 3 things you need to note when engaging a corporate contract lawyer in Singapore for your business transaction.
#1: Why should you engage a Corporate Lawyer in Singapore
We have seen cases where business bosses get together and write their own term sheet or memorandum of understanding or agreements and when it goes to court, some of the key commercial terms are struck down as unclear and unenforceable. The owners then relate sheepishly that they thought they could save on legal fees for their business transaction and thought it was clear enough.
Subject to budget constraints, a Singapore corporate lawyer should be engaged as early as the term sheet stage of a corporate transaction. This is especially so if your business founding team has no prior experience in deals of a similar nature. A good corporate contract lawyer will be able to highlight key commercial points which are not usual for a transaction of a similar scope/scale and stage of growth. A good corporate contract lawyer is worth his weight in gold as he will be able to highlight key commercial problems that he can see from a term sheet/Memorandum of understanding that may trip you up in the future. This is because most corporate contract lawyers with enough years of practice may be able to see highlight legal issues before they happen due to their experience in the field.
#2: When to choose a Corporate lawyer Singapore in your transaction/deal timetable?
For most business owners, the legal documents should be completed and signed as soon as possible after they feel that they have spent many hours finalising the key commercial parts of the deal. But like the expression says, the devil is in the details of the contract. A good corporate contract lawyer will be able to highlight any key pitfalls in the underlying deal structure of your contract. This analysis is key to whether a deal with break or do really well after the contract is signed from a legal perspective and is a key reason why you need to bring along a good legal adviser when you look at deals.
#3: How to find a Corporate lawyer Singapore
Looking for a good corporate contract lawyer in Singapore is sometimes quite hard. You need to find someone who understands the underlying business behind a transaction. Someone deal sauvy and trustworthy. Its also best to find someone with a masters in business administration to help along with your corporatisation journey.
In conclusion, choosing a good and suitable corporate contract lawyer in Singapore is important as it will affect your future growth potential. If your internal structure is not sufficiently corporatized and structured properly for global expansion from both a financial, legal perspective and business model perspective, you are setting up your business for failure as you expand. Choose wisely today.
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Click here to speak to a specialist Corporate Law Practitioner today to advise you on your corporate transaction today. The corporate law team has acted for a diversified client base including transactions involving several hundred startups across the startup eco-system in Singapore and for private equity fund deals and is well placed to help you in your corporate transactions.
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