A transactional attorney is one who is a registered attorney. These attorneys have specialization in the field of Business Law.
They have expertise in the execution, drafting and administration of important business documents, Such as deeds for real estate, merger documents, and employment contracts and also in the transfer of intellectual trademarks and property from one entity to another entity.
Any transaction or series of transactions that affects the ability of the entity to function within the perimeters set by law of a land will be understood by a transactional attorney.
Transactional attorneys have certain jobs and roles to play. Transactional attorneys also give advice to business clients on governance issue and corporate operations. These can be the responsibilities and rights of corporate officers and the legal activities of the company or organization.
With their wide range of skills, expertise and knowledge, transactional Attorneys are being hired more frequently by organizations and businesses.
Transactional firm as implied by the name specializes and deals in transactional law. These firms are concerned with business transactions. They work with clients in business world. If a business engages in a legal transaction or financial transaction, transactional firms are always there to provide them protection.
A transactional firm can exploit weaknesses in business agreements and legal firms and prevent you from making any wrong decisions. A transactional firm differs from any other firms such as a litigation firm. Transactional firms work behind the scenes and their presence is usually unknown to the other businesses or organizations.
Litigation attorneys are those attorneys who work with lawsuit. The duty of a litigation attorney is to handle a lawsuit. That is to take over a case and try to win that case at court. A litigation attorney has the knowledge and skills to take the case to court and win it. He knows how the court works and also the best way to defend your case in front of a judge.
They usually receive lawsuits which need to be handled at court. However some litigation attorneys also take cases which need to be handled outside the court. Personal injury is the most common lawsuit which is handled by a litigation attorney.
There are two types of litigation attorneys:
- Civil Litigation Attorney
- Criminal Litigation Attorney
Civil Litigation Attorney
A civil attorney deals in legal disputes between two or more than two parties. These parties seek money damages. They also seek specific performances and not criminal sanctions.
An attorney who deals in civil litigation is known as a litigator. These litigators represent parties in hearings and trials.
Criminal Litigation Attorney
A criminal litigation deals in federal or state prosecution cases. These cases can be felony cases and misdemeanor.
It is the process of going into a trial at court to either defend or prosecute oneself in a criminal case.
How Does Litigation Begin
Litigation starts when a complaint or a case has been filed against a plaintiff. In this complaint the one who has filed it writes his conditions. The conditions maybe a fine for the defendant to pay for the damages done to that person or to take some actions! The court then summons the defendant and notifies him that he has been sued. After this the defendant may be given time to file an answer. The defendant may either answer back or give a counterclaim. The litigation attorneys fight for the defendant and provide evidence. The judge keeps both the evidence and the complaints in mind when announcing his decision.
Differences Between A Transactional Attorney And A Litigation Attorney
1. Transactional Attorneys Don’t Go To The Court
Transactional attorneys don’t go the court. They handle the case dealings at their own offices. They do legal work, write contracts, and do real state closings in short they operate from behind the curtains. Their presence is not required at court.
Whereas litigation attorneys are required to be present at court. They are required to present witnesses, provide evidence to support their case.
2. Transactional Attorneys Do Not Handle Lawsuits
A Transactional attorney tries to avoid making a case into a litigation case. They provide guidance and give advice to their clients as to how to follow the law. They help their clients by preparing complete contracts. Transactional Law involves creating, deal making, mutually positive endeavors and building.
Litigation Attorney handles and deals with criminal cases, civil cases or disputes, judicial processes. It is adversarial in nature.
3. Transactional Attorneys Often Work For Companies Or Businesses
Transactional Attorneys work only for businesses or companies. That is they are only required or hired by companies. Private individuals do not require their services.
Litigation attorneys represent both corporate clients and individuals. Private individuals may also be involved in lawsuits. They solve cases between two parties. And also solve disputes.
4. Transactional Attorneys Frequently Write Contracts
Transactional Attorney gives advice to their clients. They provide them guidance and advise them how to structure their businesses, help them to evaluate ventures and also how to coordinate with other specialists.
To avoid taking a case to court transactional attorneys consult with Litigation Attorneys about those potential issues which may take them to court. They try to write complete contracts to avoid any breach of contract lawsuit.
Litigation Attorneys have to be present at court so that they are able to fight any evidence against their client. Litigation Attorneys settle both criminal and civil cases.
5. Some Companies Have In-House Transactional Attorneys, But Few Have In-House Litigators
Some businesses or organizations need legal advice on regular basis. They may need the expertise of a Transactional Attorney to help with the contracts and other behind the scene advice. So these organizations and businesses hire an attorney permanently to be in their staff and help them whenever their services are required.
Most companies do not engage in litigation regularly, so they do not require the services of a litigator.
6. Litigation Attorneys Represent Clients Who Are Suing Or Being Sued
The services of litigations are required when a party decides to sue another party. They are needed for negotiation settlements and to go to court to deal with the proceeding of the case. They are also required when their clients have been sued by another party. They are required to defend their clients by providing necessary evidence.
Transactional Attorneys are only required for their legal advice in the business matters.
7. Litigation And Transactional Attorneys May Charge In Different Ways
Transactional Attorneys charge their clients fee according to hourly basis for their services.
While Litigation Attorneys charge their client contingent fee. That is they are paid percentage of a settlement, or paid damage if the attorney wins the case.
Litigation Attorneys charge more than a transactional Attorney.
8. Practice Groups
The practice groups in a transactional department include private equity, real estate transactions, merger and acquisition work.
Whereas a Litigation Attorney department includes securities, intellectual property, employment and insurance!
A litigator has to do extensive research for a case. Sometimes a case requires so much research that a trip to the library cannot be avoided. Several trips to the library are made when doing a litigation case. The legal issue is greater in litigation cases than in transactional cases.
There are no trips to be made by the transactional attorneys to the library for researching an issue.
The deadlines to a Transactional Attorney are imposed by the clients. These deadlines have some flexibility even though they are often firm.
Litigation Attorney deadlines are sometimes drop dead deadline which must be complied with. These deadlines are based on Rules of Court, the Code of Civil Procedure and the local rules of multiple courts.
11. Brand New Areas
Often Litigators are challenged with brand new facts patterns which they react to and adapt to. They are exposed to those areas of the law which they have no research on. Therefore they are constantly learning new ideas in the different areas of Law.
Transactional Attorneys are always on the lookout for any new and unexpected circumstances. They spend most of the time dealing with those events which are most beneficial for their clients by making drafting agreements.