In these past few decades, more and more businesses have sailed out to international waters. Yet this expansion presents not only additional work and challenges to the business law firm in Lithuania management but also the legal side of things gets more complex.

The benefits of an international lawyer

Having an international lawyer on your side can make a huge impact all across the board, even if at first it doesn’t seem like much. Such a lawyer can solve any conflict that might arise in the future, not to mention – even prevent it completely. Economic and business laws almost always differ from country to country, so if you were doing just great before expanding to another region, you need extra precautions. The way your company functions also changes on an international scale with things like corporate responsibility in play.

Let’s say that your company got into an argument over a commercial transaction. The first thing that you would want to do is reach a non-conflict resolution. This will do the least amount of damage for both sides. A good international lawyer will be your layman and help both parties settle with an agreement and avoid financial, as well as reputation damage.

The success of your business also depends on the ability to understand cultural differences in foreign markets. The best practice is to sign an international agreement that is specific to international businesses. First of all, you need to verify the reliability of the other party. They need to be fully registered according to their country’s laws. Additional information like its branches and structure will also help you make good decisions. If any of the two companies feel uncomfortable with their regional laws affecting the agreement, a neutral jurisdiction can be agreed upon. An international lawyer will take care that all of this is properly covered before taking any actions.

You can start preparing for your international expansion by first finding a good international lawyer which will advise you along the way. One of the good and reliable starting points to look at is a business law firm in Lithuania.

Most common legal issues

Now that the basics are covered, here are some of the most common legal issues you might face when dealing with international business agreements.

Employees – If you hire your employees abroad, they are protected by their laws, so extra clarification is always needed in the work contract that both parties would agree upon the hiring and firing terms.

Intellectual property – this must always be taken into consideration. In some countries trademark laws work differently, so you must patent your products for the country you plan to sell in, as your local copyright law does not cover the international market.

Taxes – every jurisdiction seeks maximum profit in taxes from the businesses operating within their territory. That is why having a good international lawyer will help you with navigating these financial intricacies.

Real estate – be it an office, a warehouse, factory, or a store, you will most likely need to purchase real estate in the country you plan to operate in. An international lawyer will help you with understanding the local laws, your responsibilities, and right while having real estate there.