Understanding Transactional Lawyers

Clients Rate Lawyers on our Platform 4.9/5 Stars
based on 2,253 reviews

Jump to Section

Need help with a legal contract?

Post Project Now

Post Your Project (It's Free)

Get Bids to Compare

 Hire Your Lawyer

What Is a Transactional Lawyer?

A transactional lawyer is also known as a business lawyer, and they focus on helping businesses with all different types of transactions, like mergers, sales, and acquisitions. This means they can help with contracts or agreements when it comes to large business transactions. They usually specialize in corporate finance. Transactional lawyers can also help with estate planning, drafting wills, power of attorney, negotiating leases, and filing tax documents on their client's behalf.

What Does a Transactional Lawyer Do?

A transactional lawyer will oversee contracts and agreements concerning financial exchanges. They verify all documentation, negotiate on behalf of the company, and offer legal counsel regarding intellectual property, real estate transactions, licensing and trademarks, and mergers and acquisitions. A transactional lawyer can also offer personal estate planning services. This means they can write up wills, draw up paperwork to sign over power of attorney, and create employee agreements.

A transactional lawyer should also offer their clients legal counsel to help them develop contracts and agreements that suit their needs and provide them with adequate protection.

When Do You Need a Transactional Lawyer?

If you are looking into estate planning, hiring a transactional lawyer is important. You will want your will to be legally certified. You may also want to consider hiring a transactional lawyer if your company is about to complete a large business transaction. A transactional attorney can verify contracts and agreements before you follow through with the purchase or sale.

However, even if you have no large transactions in the works, it's still a good idea to hire a transactional lawyer. They can assist you with any legal documentation you have and help you get ready for big transactions in the future. If you want to avoid legal fees in litigation down the line, hire a transactional attorney to prevent such a situation from occurring.

How a Transactional Lawyer Can Help You

There are many different situations in which a transactional lawyer can help. They specialize in regulatory research, which is usually referred to as due diligence. A transactional lawyer will do the legal research necessary to verify all contracts, agreements, or transactions to ensure everything is in their client's best interest. Here are some examples of what a transactional lawyer does for a business:

  • Verifies contracts
  • Draws up contracts and agreements
  • Drafts employee contracts
  • Offers legal counsel on general compliance matters
  • Completes due diligence (legal research) on behalf of the client
  • Designs policies
  • Drafts up protection of intellectual property
  • Offers legal advice on matters of employment, fiscal responsibilities, and transactions

Get Free Bids to Compare

Leverage our network of lawyers, request free bids, and find the right lawyer for the job.

Get Bids Now

The Benefits of Hiring a Transactional Lawyer

Hiring a transactional lawyer can have many benefits for you and your growing business, including:

  • Your will or contract will have more weight in court if it is drafted and signed by a transactional lawyer.
  • You will discover legal issues with your business transactions before completing the exchange.
  • A good transactional attorney can help you with income tax filings.
  • They can save you money by preventing you from getting pulled into litigation.
  • They can offer estate planning advice.

What to Ask a Transactional Lawyer Before You Hire Them

Hiring the right attorney can make all the difference in your company's success. It is worth taking your time and evaluating your options as best as possible before making your decision. Here are some common questions to consider asking potential lawyers you meet with:

  • How many years of experience do you have in this type of business?
  • How many other clients do you have that are similar to me in terms of business?
  • What can you offer me over other transactional attorneys?
  • What types of transactions do you usually work with?

Here's an article with some additional questions you can ask transactional lawyers to help you decide which to hire.

What to Look for in a Transactional Lawyer

You know how to interview an attorney, but do you know what to look for in one? Here are some qualities to look for to ensure the lawyer you choose is right for your business:

  • They understand your business: Talk to your potential attorney about your company and ask relevant questions to see if they have a complete understanding of how things operate in your business, not just in your industry. When it comes to negotiations, they need to be well-informed to handle them properly. Give them an example, and see how they respond to make sure they are right for your individual business.
  • They ask for your opinion: A good transactional attorney doesn't just need to know the law. They need to understand your needs and do their best to make sure you're happy. They must care about what you're interested in, not what they're interested in. Look for an attorney who asks for your opinion and presents you with different options to choose from.
  • They are flexible: While agreements do need to be ironclad, you also need a lawyer who has some degree of flexibility. Things change over time, and your lawyer needs to be committed to serving you and rolling with the punches, not just securing the deal they originally suggested.

What Is the Difference Between a Transactional Lawyer and a Litigation Lawyer?

Though both a transactional lawyer and a litigation lawyer can be beneficial to a business, they have varying areas of expertise. As mentioned above, a transactional lawyer's main purpose is to provide legal counsel on business transactions, contracts, and agreements.

In comparison, a litigation lawyer specializes in settling active litigations in civil court. The best approach is to hire a transactional lawyer to avoid any future litigation. However, issues may arise nonetheless. In the event you are brought to civil court, you should consider consulting with a litigation attorney to prepare the best defense and resolve your case in a timely manner.

Learn more about the difference between these types of law in this article .

You and Your Transactional Lawyer Are a Team

Although your transactional attorney has the legal knowledge you may not have, they are still only part of your team. You can and should feel free to have open discussions with your attorney, weigh your options together, and look for a solution that works for you. A good attorney will always be open to working together with you and ensuring all parties' common goals are met. If your lawyer makes you feel as though you cannot comment on proceedings, you may want to consider hiring a different one.

If your lawyer advises against something that you want to do, they should be able to explain why they don't think you should do it. Flexibility is required on both sides, but the real secret to a good attorney-client relationship is open communication.

Do Your Homework

A transactional attorney can help save you money and keep your company from falling victim to unwanted litigation, so it's essential to do your homework to find a suitable lawyer for your needs. Before hiring a lawyer, make sure they are experienced in your industry and have the knowledge and expertise to counsel you properly. Ask all necessary questions beforehand to ensure you hire the best lawyer for your business.

The right transactional lawyer can help you manage your business more efficiently and propel you on the road to success. Click here to find a transactional attorney in your area.

How ContractsCounsel Works
Hiring a lawyer on ContractsCounsel is easy, transparent and affordable.
1. Post a Free Project
Complete our 4-step process to provide info on what you need done.
2. Get Bids to Review
Receive flat-fee bids from lawyers in our marketplace to compare.
3. Start Your Project
Securely pay to start working with the lawyer you select.

Meet some of our Lawyers

View Nicholas
Member Since:
February 28, 2022

Nicholas V.

Free Consultation
Get Free Proposal
Denver, CO
4 Yrs Experience
Licensed in CO, NY, TX
Texas A&M University School of Law

I am a solo practitioner with offices in Denver, Colorado and Austin, Texas with a focus on general business and real estate contracts.

View Kelvin
Member Since:
February 25, 2022

Kelvin R.

Free Consultation
Get Free Proposal
Dallas, TX
25 Yrs Experience
Licensed in TX
Tulane Law School

Experienced business and contract lawyer. Our firm specializes in commercial litigation and dispute resolution.

View Jessee
Member Since:
March 14, 2022

Jessee B.

Attorney | Creative at Law
Free Consultation
Get Free Proposal
9 Yrs Experience
Licensed in TN
The University of Memphis—Cecil C. Humphreys School of Law | Juris Doctor, Law)

Whether you're thinking of starting your own business and not sure how to bring your vision to life, or you're a business owner, creative professional, creator, influencer, artist, musician, startup, nonprofit, or entrepreneur who wants to grow your business and protect your content and brand—I can help. Get experienced legal counsel, quality representation, and creative solutions customized to fit your unique needs. Services include: entity formation, business issues, planning, financing, and strategy; contract drafting, review, and negotiation; intellectual property protection; copyright and trademark filing; startup and nonprofit setup and guidance; real estate matters; property purchase, sale, and leasing; assistance with legal issues related to content creation, branding, design, writing, film, music, art, entertainment, social media, e-commerce, marketing, advertising, data and privacy compliance, and more. Questions? Let's work together. Reach out and say hello.

View Doug
Member Since:
March 4, 2022

Doug S.

Co-Managing Member
Free Consultation
Get Free Proposal
Dallas, TX
24 Yrs Experience
Licensed in TX
Southern Methodist University School of Law

I am an experienced A/V rated attorney. I have practiced for over twenty years in the areas of bankruptcy and creditors' rights, receiverships, and commercial litigation. I am a Credentialed Distinguished mediator (by the Texas Mediator Credentialing Association) and arbitrator and have been an active dispute resolution professional for sixteen years. I am an EMDR Trained Licensed Professional Counselor, with emphases on trauma and professionals dealing with stress.I am an experienced A/V rated attorney. I have practiced for over twenty years in the areas of bankruptcy and creditors' rights, receiverships, and commercial litigation. I am a Credentialed Distinguished mediator (by the Texas Mediator Credentialing Association) and arbitrator and have been an active dispute resolution professional for sixteen years. I am an EMDR Trained Licensed Professional Counselor, with emphases on trauma and professionals dealing with stress.

View Stephanie
Member Since:
March 8, 2022

Stephanie C.

Free Consultation
Get Free Proposal
Niceville, FL
2 Yrs Experience
Licensed in AL
Southern University Law Center

Alabama Licensed Attorney offering Freelance Services for Wills, Trusts, Probate, Family Law Documents, Criminal Matters, and Real Estate Closings.

View Benjamin
Member Since:
March 10, 2022

Benjamin V.

Free Consultation
Get Free Proposal
3 Yrs Experience
Licensed in CO
Columbus School of Law, Catholic University of America

My practice involves counseling businesses and individuals on a variety of contracts, such as business formation, technology/IP, real estate, leases, and even domestic relations agreements. Much of my practice is dedicated to litigation. As such, I approach contract and transactional work from a litigation perspective by advising clients of the risks involved in failing to develop proper contracts. It takes more than knowledge of the law to be a good lawyer. A good lawyer is honest and forthcoming with clients and has a counseling ethos. And, to me, a good lawyer stands in the shoes of the client when considering how to best serve that client. Whether my client is a business or an individual, I am passionate about helping my clients understand their rights, responsibilities, risks, and possibilities.

View David
Member Since:
March 10, 2022

David H.

Technology Contract Attorney
Free Consultation
Get Free Proposal
Fort Wayne, Indiana
11 Yrs Experience
Licensed in MI
Western Michigan University - Thomas M Cooley Law School

Michigan licensed attorney. A compelling combination of technology, sourcing, sales, and legal experience. Over 20 years in technology positions negotiating technology engagements and contracts. General practice legal experience. Significant IT contracts experience (from IT sourcing/procurement) with the State of Michigan and Zimmer Biomet (Fortune 500). Excellent people, negotiation, and writing skills; keen eye for continuous improvement. Trusted business partner co-leading or supporting cross-functional integrated business/IT projects.

View Michael
Member Since:
March 17, 2022

Michael C.

Managing Member
Free Consultation
Get Free Proposal
11 Yrs Experience
Licensed in NY, TX
Wake Forest University School of Law

A seasoned senior executive with experience leading the legal and compliance functions of healthcare entities through high-growth periods. I have experience managing voluminous litigation caseloads, while also handling all pre-litigation investigations for employment, healthcare regulatory, and compliance matters. Similarly, I have led multiple M&A teams through purchase and sale processes, including diligence and contract negotiations. Finally, I have extensive contract review experience in all matters, including debt and equity financing, healthcare payor contracting, vendor and employment agreements, as well as service and procurement agreements.

View Rebecca
Member Since:
March 16, 2022

Rebecca R.

Free Consultation
Get Free Proposal
St. Petersburg, FL/Nashville, TN
21 Yrs Experience
Licensed in TN
University of Tennessee College of Law

An experienced commercial contracts attorney with sales, leasing, NDA, SEC compliance, corporate governance, commercial real estate, and employment experience. Also well versed in internal and external policy document and manual creation.

View Joann
Member Since:
March 23, 2022

Joann H.

Attorney at Law
Free Consultation
Get Free Proposal
22 Yrs Experience
Licensed in FL, NY
University of Buffalo School of Law; SUNY at Buffalo School of Law

I practiced law for the past 22 years in Immigration, Bankruptcy, Foreclosure, Civil Litigation, and Estate Planning. I am interested in downsizing to a more workable schedule to allow the pursuit of other interests.

View Gregory
Member Since:
March 23, 2022

Gregory F.

Free Consultation
Get Free Proposal
Atlanta, Georgia
24 Yrs Experience
Licensed in GA, NY
University of Pennsylvania

Greg Fidlon has been practicing exclusively in employment law since 1998. He represents and advises clients in all aspects of the employment relationship. In addition to his litigation work, Greg regularly negotiates and drafts corporate policy handbooks, employment contracts, separation agreements and restrictive covenants. He also develops and presents training programs and has spoken and written extensively on labor and employment law topics.

Find the best lawyer for your project

Browse Lawyers Now

Want to speak to someone?

Get in touch below and we will schedule a time to connect!

Request a call