What are the myths of business lawyers in Singapore? Business Lawyers are attorneys who completely focus on providing legal advice to businesses. This legal advice contains taxations, business transactions, and intellectual property rights.
Singapore is one of the fastest-growing nations having a huge development in the corporate sector. This has brought a huge rise in the corporate lawyers in Singapore over the years. There are many myths that people believe about Business lawyers in Singapore.
Below mentioned are the 7 myths of Business Lawyers in Singapore:
Most entrepreneurs have a belief that only multinational companies, business houses, and big conglomerates require Business lawyer’s assistance in Singapore. Startups that are in their initial stage do not require any assistance from lawyers.
This is completely wrong and hence it’s a myth that many believe to be true. Businesses no matter how small or big all need assistance from the lawyers, especially during their initial stages.
Corporate lawyers perform very similar duties like that of regular employees as their participation matter a lot to the company. They help startups identify the key legal issues that can bring hurdles to the startup and provide solutions.
Many have the notion that corporate lawyers in Singapore charge huge bills to their clients. Sometimes the work done might amount to a huge bill but not every time it is true. Many small businesses think they can download templates from the internet and get going which is also not true.
Sometimes they might be a lot and sometimes it might be just adequate.
This myth states that generally lawyers bury clients with legalese but that is not the case. The reason being lawyers can set legalese only to the extent businesses need them. Some businesses require more legalese whereas some require less.
Entrepreneurs want to have less legalese as possible for their businesses which is not possible.
The perception of this is Business lawyers are the main facilitators of a deal. Many entrepreneurs believe that Business Lawyers delay their deals by purposely lengthening the process by adding unnecessary complications and legal intricacies.
The perception of this myth is that Business lawyers are unethical and generally lie to save their clients putting innocent lives at risk. This conception is wrong as it is not all easy to become lawyers.
Becoming a Business Lawyer requires a minimum of 7 years of hard work. Once done lawyers take an oath and become the custodian of the court of justice. This states that not all lawyers are liars.
There are cases in which lawyers lie but to create an overall impression on all the lawyers is completely untrue.
The perception of this myth is that Business lawyers are generally looking to make money from their clients and cannot be trusted. This conception is truly wrong as it is very necessary to trust lawyers; if not every lawyer trusting your lawyers is a must.
Though every lawyer has some basic understanding of the legal practices it is not all necessary for lawyers to know in all the cases that take place in the house of justice.
There are several departments in law such as a criminal lawyer, malpractices lawyer, bankruptcy lawyer, employment lawyer, and many more.
These & myths about Business Lawyers in Singapore will give an idea about what wrong misconceptions people have about them. Business lawyers are professional and highly skilled individuals. Before believing in myths about lawyers it is first necessary to do a fact check.