Role of a Transactional Lawyer in your Business
You might think that lawyers only head to the courtrooms or negotiate deals for the clients. However, it is highly unusual when it comes to practicing law.
While both corporate attorneys and litigators deal with companies and corporations, they do it in different ways. Litigation and transactional lawyers decide between the two areas to practice their expertise. Lawyers who facilitate or deal with transactions in the field of corporate law, employee benefits, or intellectual properties are transactional attorneys.
In the business world, transactional attorneys set up deals to avoid litigations and define the responsibilities and rights of parties in an event if something goes wrong. Put simply, transactional attorneys craft deals or transactions, whereas litigators step forward when those deals go wrong. Litigators typically resolve disputes using the judicial system that may include arbitration or mediation.
So how do transactional attorneys help with your business’s legal matters? Let’s delve into the details to find out the role of a corporate/ transactional lawyer in your business.