The corporate lawyer: your ally in small-business ventures

February 5, 2014

Most people view lawyers as adversaries to avoid. If you're ready to launch a small-business venture, a corporate lawyer can actually be your best ally. Here's why.

Corporate law plays an important role in the organization of a business. Regulations and laws are often complex, and it isn’t always easy for small-business entrepreneurs to avoid making mistakes when setting up or developing their companies.

In short, corporate lawyers work to protect the interests of small-business entrepreneurs and help them make the right decisions. They can also provide legal assistance in commercial transactions, negotiating leases, and drafting agreements, thus avoiding any conflict between two contracting parties.

The corporate lawyer: your ally in small-business ventures

The role of a corporate lawyer

A corporate lawyer makes sure an entrepreneur avoids any legal problems by making him or her aware of the laws applicable to an area of business. The lawyer offers strategic advice and corporate planning services, including the drafting of contracts, agreements, orders, and legal documents. The lawyer can act on the business’s behalf to resolve conflicts or facilitate the process of reorganization, selling shares, selling off part of the enterprise, or buying up other businesses.

Valuable assistance for setting up a business

During the setting up of a business, a corporate lawyer draws up the documents required for incorporation. The lawyer elaborates and explains internal regulations as well as the procedures for the board of directors, shareholder resolutions, the updating of the corporation’s minute book, and shareholder agreements.

Three services offered by a corporate lawyer

1. Oversight of professional accounting services

Companies have to meet many legal and administrative requirements related to tax filing and other government obligations. Corporate lawyers can help companies avoid errors or omissions that may result in financial and tax penalties.

2. Reorganization, mergers and liquidation

A company’s evolution is often fraught with pitfalls that have to be overcome. The advice of a corporate lawyer can help facilitate major changes, such as downsizing staff, closing the company, developing new projects, or deciding to import or export goods and services.

3. Equity transactions

Equity transactions can often be difficult for a company. The arrival or departure of a major shareholder, reorganization after a corporate merger, and tax planning are all situations that involve rules or shareholder agreements that must be followed closely. A corporate lawyer ensures that contracts and financial transactions are recorded in the books and corporate records of the company.

The services offered by a corporate lawyer are as numerous as they are invaluable. Why deprive your company of this kind of expertise?

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