We have previously discussed why a business, company or organization should be incorporated. In essence, if you’re doing more than baking cookies in the kitchen, or providing freelance services from your home office, the advantages of incorporation become quite significant.
However, as businesses grow and become incorporated, so, too, do the associated legal responsibilities and obligations. That’s where corporate lawyers come in. Generally speaking, there are two types of corporate lawyers. There are corporate litigators. Basically, they either help corporations get sued, or help corporations when they get sued. If you’ve ever seen a movie with a corporate lawyer in it, it’s most likely that the courtroom — i.e., litigation — is somehow involved.
Not just the courtroom
Yet, there is another type of corporate practice that doesn’t involve lawyers making impassioned speeches to juries or crucial witnesses providing eyewitness testimony to packed courthouses (even though this is sometimes necessary.) In general, many of the duties of a corporate lawyer get performed without much notice or fanfare.
These include the preparation of documents related to various areas of corporate law, including finance, insolvency, mergers and real estate. Corporate lawyers also regularly engage in research for their clients in preparation of important transactions. The drafting of documents is another routine area of corporate law. Perhaps more importantly, corporate lawyers sometimes need to walk their clients through much of these documents and help them understand the various legal issues at work.
Both the simple and complex
In addition, the scope of the work of a corporate lawyer can vary. Corporate lawyers can perform tasks as simple as standard contracts or as complex as world-changing mergers and acquisitions. Good corporate lawyers or corporate law firms will have the capacity to do the entire range of work for their clients.
In essence, when any entity decides to incorporate, legal implications follow, and it is only through the services of a corporate lawyer that incorporated firms can navigate their legal obligations. In other words, good corporate lawyers should be well versed in handling their clients’ legal responsibilities so that those same clients can better focus on what they actually do, whether it’s doing business, running a charity, or baking cookies — for the masses.
If you need a professional advice on family law, or if you’re thinking of divorce, please phone us here at Hosseini Law Firm (HLF) for a 15 minute free consultation: 416-628-4635, or please use the contact form provided on this page.