In essence, a corporate lawyer represents a corporate entity. As such, they advise a given company of their rights and duties under the law. Corporate lawyers do not represent employees or shareholders. A corporation is its own legal entity. It is legally formed within a given state to conduct business. So, a corporation is viewed as separate from the owners or shareholders.
Corporate law itself, meanwhile, refers to the state and federal legal rules and regulations associated with corporations. Corporate lawyers ensure companies maintain all necessary compliance with their legal requirements. They handle transactional responsibilities so that legal issues are less likely to arise. Using a corporate attorney may also reduce the possibility of litigation.
What Does a Corporate Attorney Do?
These attorneys offer clients contract services and corporate governance. Maybe you require the creation of an operating agreement for an LLC. Or, by-laws for your corporation. Corporate attorneys would handle that for you. As an LLC, owners and/or members can use them to establish an operating agreement. That agreement can strengthen the limited liability protection of the legal entity. These agreements further define ownership percentage, voting, profit and loss distribution/allocation, management details, and financial obligations. Perhaps a corporation is seeking to create by-laws. A corporate lawyer would determine how the selected board of directors actually governs the corporation. By-laws encompass the corporation’s name, information, and shareholder/director meeting procedures. The by-laws also state how many officers and directors exist, how shares are issued, how records are kept, and how by-law changes are enacted.
A corporate attorney may also assist clients with Mergers and acquisitions (M&A). M&A refers to ensuring a deal is negotiated and drafted properly, and that one entity merges with another or purchases another to the satisfaction of the client. These lawyers may also engage in Venture capital services, wherein they aid corporations in obtaining financing for expansion. Additionally, corporate lawyers may offer securities services, which means providing guidance on compliance with security law.
Benefits of Using a Corporate Lawyer
If you are involved with or starting a business, you will benefit from having a corporate attorney, like Stockman & Poropat, PLLC. Our team can vastly improve your chances of finding success as a business by planning and structuring your legal entity in the most appropriate way.
Whether you need a contract drafted and reviewed, an operating agreement, by-laws, a privacy policy, terms of service, or service agreements, we are here for you. As a business owner, you should have a fully structured foundation for your LLC or corporation so that you may thrive. Corporate lawyers are also the best tool to use if and/or when you encounter any kind of issue with any aspect of your business structure.
Up next we will be discussing Intellectual Property Lawyers.
