What is Corporate and Business Law?
Corporations and businesses sometimes need attorneys to help with processes and transactions. Attorneys help to prevent conflicts between individuals over contracts, finances, real estate and other issues. Corporate lawyers are integral to a smoothly functioning business. This is why most businesses hire them permanently to provide full-time legal counsel. There are several different issues that business lawyers may settle:
Issues with Compensation If issues come up between employees and their employers over compensation, the attorney can step in to protect the interests of both. The attorney will ensure that the business does not violate any laws regarding compensation or benefits. He also protects these benefits from abuse, which can destroy a company if not attended to properly.
Formation of a Business Many legal processes are involved in starting a business. From securing permits to obtaining a lease and establishing company policies, corporate lawyers provide essential assistance to new business owners. They will oversee these decisions and help keep the business owner on the right track.
Agreements with Shareholders Stockholders’ agreements need to be managed by an experienced attorney. Experts in business and corporate law will be aware of the complexities of finances and legality inherent in agreements with shareholders. Some of the issues handled by attorneys include constitutional documents or mechanisms for removing minority shareholders. They can also resolve disputes by arbitration.
Financing Concerns Monetary decisions, such as acquisition analysis and a company’s general financial operation, are important matters that should be attended by an attorney. Attorneys can also help oversee fundraising for various business ventures or projects. These situations can be complex and involve multiple legal issues, so oversight by an attorney can prove very helpful.
Compliance Regulation Companies must perform within existing compliance laws, regulations and rules mandated by law. An attorney can help the company fulfill its objectives in accordance with these regulations to prevent conflict with the various government policies. This will prevent the business from civil or criminal penalties.
Commercial Litigation One of the biggest responsibilities of a corporate attorney, commercial litigation is the process of settling legal disputes over business issues and controversies. For example, the attorney might handle class action suits, employment disputes, breaches of contract, debt collection and other legal processes. Having an attorney for these purposes is vital to maintaining a healthy business.