Any company would benefit from having a corporate attorney on staff. They can help your company with legal advice, contract review, and even defend the company from lawsuits. A business attorney will determine the best business structure for your company. It can prevent unnecessary liability and tax penalties down the road.
Legal Advice
If you’re starting a new business, a corporate lawyer can provide the legal guidance needed to get on the right foot. These experts are well-versed in the state and federal laws companies must adhere to. It includes the Health Insurance Portability and Accountability Act (HIPAA) for medical information, the Americans with Disabilities Act (ADA) for accommodations for individuals with disabilities, OSHA regulations for workplace safety, and other relevant laws.
Corporate lawyers also have the skill set to advise businesses of industry changes that could affect their company. Keeping in touch with a corporate & securities law firm to have your questions and concerns addressed ensures that your company remains compliant.
Another responsibility that a corporate lawyer has is the ability to draft, review and negotiate contracts for their clients. As a company grows, its managers may enter into agreements with clients, vendors and employees that must be legally sound. An expert corporate attorney can ensure all the necessary details are contained within a contract to avoid potential disputes.
If a corporation is considering a merger, sale or liquidation, a corporate lawyer can help protect the owners’ interests by reviewing and drafting legal documents that outline their rights and responsibilities. They can also attend board or regulation meetings to assist with legal decisions that might impact the corporation.
Contract Review
A corporate lawyer can provide contract review services to help reduce any agreement’s legal and financial risk. It includes thoroughly reading the document and identifying unclear terms, hidden fees, or a lack of recourse for undelivered promises. They can also help you establish and implement a process for reviewing and approving contracts to prevent bottlenecks that cause delays or impede contract workflows.
Another service they can provide is examining the legality of new business relationships with vendors and subcontractors by checking whether they have any outstanding judgments or legal liens. Lastly, they can verify that any government reports your company may have to file are accurate and complete.
In smaller businesses, they can also assist with drafting legal documents and instruments for transactions such as sales of assets or property, acquisitions, and debt financing. It is known as housekeeping in law and is part of a corporate lawyer’s duties to ensure that the corporation complies with the relevant regulations.
Contract reviews require a thorough word-by-word reading of the document to identify potential risks or red flags. It may be a time-consuming, expensive process that frequently needs the assistance of several team members. Using a cloud-based contract management solution can streamline this process and improve efficiency by enabling everyone to work collaboratively on the same platform, eliminate bottlenecks, and speed up the review and approval of contracts.
Business Dispute Resolution
A business attorney’s job is to ensure your company stays within its legal boundaries. It may involve confirming the company complies with state regulations, assisting with hiring new employees or contractors and handling various legal issues that could arise for the company. A corporate lawyer will have an in-depth understanding of the laws that govern a business’s operations, including employment and contract law.
They can provide comprehensive counseling to prevent your company from encountering legal trouble. Business disputes are virtually inevitable, whether a disagreement with a supplier, customer, contractor, competitor or employee. A skilled corporate attorney will know how to resolve these conflicts outside of litigation to save your business time, money and resources.
An experienced corporate attorney can also help your business with various intellectual property matters. They can register or enforce your business’s trademark and copyright, assist with patent applications and defend against infringement allegations. They can advise your business on strategies to avoid infringement and respond when it does occur.
Litigation
A corporate lawyer can provide litigation services, including arbitration and mediation. They can also give suggestions and directions on how to comply with regulations. They can help you understand the responsibilities, obligations and rights of shareholders and owners. A good corporate lawyer will have excellent time management skills and can prioritize work effectively. It will ensure that all deadlines are met, and that you don’t experience delays in closing your business deals. They will also be able to negotiate well. For example, they may be able to secure more favorable conditions for your business in a merger deal.
Many small and medium-sized businesses must sign contracts with suppliers, customers, employees and investors. A corporate lawyer can review these documents and ensure they are legally sound. They can also help you create partnership or shareholder agreements that define the operations of your business, clarify owner responsibilities and establish methods for resolving conflicts between shareholders or partners. A corporate attorney can also help you determine whether your business needs a specific license to operate. They will be able to advise you on where and how to file your application and the various requirements that need to be met.
