The law is quite intricate and complicated. It has many verticals that one person on their own can’t master, which is why there are different types of lawyers for various cases.
Amongst all the different types, there are corporate lawyers. These lawyers do not prosecute or defend someone per se, but they work for an organisation to uphold the contracts and agreements made with various third parties. They do not represent the CEO or the organisation’s employees but represent the best interest of the corporate entity; irrespective of who is running it.
These lawyers are experts in handling issues regarding corporate governance and the corporations act (or equivalent law in the country the company is operating in). Hiring a lawyer is especially important if the company is planning to launch an IPO or wants to expand in to other states or countries. They will also take care of all the legal formalities and regulatory compliance necessary in order for the company to operate.
Here are some things a corporate lawyer can do for the organisation :
As a lawyer, they will have access to a team of paralegals and other junior lawyers to assist them in drafting and reviewing legal contracts. These contracts could include anything, from the lease of an office building to a billion-dollar acquisition contract, they will be responsible for them all.
Depending upon the document’s importance or complexity, they might have a bigger team of interns or paralegals under them.
Mergers And Acquisition
When an organisation reaches a certain level, mergers and acquisitions become common. Big corporations often acquire smaller companies, which requires a lot of paperwork.
Corporate lawyers will help conduct due diligence, negotiate and help the organisation in drafting contracts that serve the company’s interest.
They oversee the deal and ensure everything is done according to the law.
After a certain level, the organisation al structure becomes complex, requiring proper corporate governance to manage people and processes.
Herein, the lawyers will help the organisation create a basic framework of the organisation al policies.
In addition, a corporate lawyer is also responsible for charting and upholding the corporate’s bylaws. They also serve as advisors to directors and other top-level managers by advising them regarding their rights, responsibilities, and other duties towards the company.
Startups and young organisations need funding to survive and grow in the market. A lawyer can dip into their network pool to find the startup the best deal that serves their financial interest in the long run.
A lawyer may help the company find and execute the best deal through private or public financing.
When a company goes public, there are a plethora of compliances they have to meet. Lawyers working for the corporate would advise the board regarding the best practices towards shareholders and prevent fraud, insider trading, and market manipulation.
Moreover, they will help the company maintain transparency with shareholders and the organisation .
A company can not go public or get into major deals without having the support of a lawyer who would oversee all the terms and conditions.
Such lawyers work in mid to big-size companies, but there are many cases when small companies may require the services of a corporate lawyer. So, in that case, they hire a third-party lawyer.