Business is his Business

Marc Laatu joins the partnership at CARREL+Partners LLP, where he specializes in corporate and commercial law, including commercial real estate.

Local law firm CARREL+Partners LLP has a new partner.  Marc Laatu has joined the partnership, affirming his commitment to staying in the community.

Laatu, who has an Honours Bachelor of Commerce from Lakehead University and Juris Doctor from Osgoode Hall Law School, has been practicing law in his hometown of Thunder Bay since his call to the bar in 2013.

“I work on all legal needs for businesses,” he says. Starting a business is a major commitment, and Laatu wants to make sure people get off on the right foot.

“How the business is structured and who forms part of the team can have a big impact on future success.” Depending upon a client’s needs, an accountant, an insurance agent, or a financial advisor might be a good idea.

While a DIY, “Google-It” approach may seem like a good cost-cutting measure, these are decisions that have far-reaching consequences. “There are many different ways to structure a business and there is no one size fits all approach”.

When looking to buy or sell an existing business, it's important to get a lawyer involved early in the process. “The purchase price is important but there are many other aspects of an ongoing business which will affect what you end up paying, or receiving when things are said and done. You need to address how that business is going to transition, in writing, in case things go wrong in the future, or even if they go right,” Laatu says. Laatu works to ensure there are no surprises down the road, so that entrepreneurs can just focus on their business.

Although the pandemic has been stressful for many people, there are also opportunities, Laatu says. “Sellers are looking to exit earlier than they planned, and Buyers are seizing the opportunity to start a new business or purchase an existing business. Money is so cheap now, with low interest and favourable terms from banks. There’s been a significant increase in real estate activity since COVID started.”

Laatu has been working with many people buying and selling hunting and fishing lodges, which is an industry that has been hard hit by the pandemic restrictions. While there has been an increase in people selling out, there are others pouncing on good deals.

CARREL+Partners LLP currently has 10 lawyers, including three partners, with a staff of roughly 25 people. As a full-service law firm, CARREL+Partners LLP can deal with everything except criminal law, from routine real estate transactions to more complicated litigation.

Since the pandemic began, CARREL+Partners LLP has been taking every step necessary to ensure clients get the service they need, the way they need it. This may mean virtual meetings for some, and safe, socially distanced in-person meetings for others.

Laatu says he is a lawyer first and foremost, so looking out for business people and their liabilities is his first concern. That being said, it is equally important to him to keep clients’ priorities at the top.

“I understand that the legal jargon and dealing with lawyers can be frustrating,” he says. “My goal is to make it as business-practical as possible, getting down to what actually matters, and making sure there’s value in what we’re delivering.”

To learn more about CARREL+Partners LLP and what services they offer call 807-346-3000 or visit their website for more information.