Commercial

GOOD commercial law applies equally to every company. But a good commercial lawyer applies the law according to each company's individual characteristics.

It is a vital distinction that defines Bond Pearce's specialist commercial law team, formed in the 1990s to strike a balance in the new economy between protecting a company's interests while achieving its commercial aims.

"Most of us have at some time worked in companies. We regularly second lawyers to clients so that we're familiar with a company's features - and to ensure that we understand what that company requires from their legal advisers," Nick Page, who leads the Bond Peace commercial team, says.

The team comprises of expert commercial solicitors covering a broad range of law, including commercial transactions, intellectual property, information technology plus competition and anti-trust issues.

The approach has drawn instructions from company secretaries, finance directors and in-house lawyers representing an expanding number of large clients.

"We get to grips with what makes their businesses work and what they're trying to achieve," Nick says.

"It's the commercial edge that makes the difference, particularly when combined with excellent legal advice.

"We work as a close-knit team. We think in a commercial idiom and seek legal solutions, not problems.

"How often do you hear complaints that lawyers concentrate on matters that clients feel are really unnecessary? I don't think our clients have that problem."

Bond Pearce has set its commercial team at the core of the firm's business. That means focused legal specialisation combining skills and experience at least the equal of services offered by City firms - but at substantially lower fees.

"It's important to look at a transaction as a whole, getting the core pieces of an agreement correct, like the supply of goods or services, limitation of liability and payments," Nick says.

"But you should always assess what will be the practical solution if things go wrong. Will it be easy to step away from a contract and cut your losses?

"If not, maybe a client should suspend a contract, rather than terminate it. Additional pressure can be applied by including effective rights of set off.

"One size does not fit all. It is important to get this right at the start - not when things go wrong."

Bond Pearce's track record reveals how the team's advice has anticipated problems, rather than wait for them to emerge. Take for example, a complex contract drafted by Bond Pearce for the supply of goods in four countries.

The contract withstood the scrutiny of lawyers in each country. And the choice of the right type of arbitration helped the client greatly in what would otherwise have been a complicated legal battle.

"Too often, lawyers do not focus on these issues," Nick says.

"We were involved in opening the largest retail distribution centre in the UK. That meant advice from a range of lawyers within our business.

"But it was the commercial team that drove the project forward within the time that the client required, drawing on other experts in the HR, construction and property teams. The client was happy. Most important, it works in practice."