What exactly do corporate law lawyers do? Corporate law is a body of law dedicated to protecting the rights of businesses, corporations, and the assets of other individuals or entities, said a financial management and business lawyer in Chicago. Corporate law is an area of taxation, intellectual property, licensing, and contract law. Corporate law firms seek attorneys who have experience dealing with all areas of corporation law, including management and leadership, as well as transactional law. In other words, corporate law is the area of law that takes care of the small guy. While the exact focus of this practice can vary greatly, corporate law firms agree that every day brings new challenges and issues, many of which are unique, involving cutting edge issues in today’s global economy.
Corporate transactions can involve any number of entities, including businesses like partnerships, limited liability companies, corporations, LLCs, S corporations, partnership agreements, and direct ownership. One important function of a corporate law firm is to provide legal counsel to corporate entrepreneurs as they develop business plans and deal with the many difficult issues involved in those processes. Corporate attorneys can also help new businesses incorporate into legal agreements so they can enjoy the benefits of limited liability.
Corporate attorneys can also help corporations create mergers and acquisitions, as well as other big business transactions. Corporate counsel represents the interests of their clients, working diligently to ensure that their clients receive the best deal in any transaction they negotiate. Many mergers and acquisitions require the assistance of corporate counsel, because some transactions, such as those that allow partners to take control of a company or entity, require careful consideration of the potential ramifications of those actions for the future of the business. A strong understanding of legal and regulatory issues is essential for corporate counsel, because those aspects can make or break any deal.
Corporate law firms can also offer their clients other types of assistance, including financial and accounting advice. Every company requires lawyers who are knowledgeable in both internal controls and environmental policies, due to the high costs of complying with those policies. An experienced corporate lawyer can navigate through all of the paperwork that must be submitted when making a large financial transaction and can advise his clients on how to properly structure their assets and preserve them during the transaction.
Corporations can also use corporate law firms to settle their minor disputes. Some of these cases include disagreements over trademarks, domain names, patents, copyrights, investment activities, and acquisitions and divestitures. The outcome of these disputes may have a major impact on the ability of a corporation to operate. In the past, major corporations could dominate the marketplace and dictate the rules of the game, but that dominance no longer exists. Today, smaller corporations are developing their own culture and brand names, and they need reliable counsel from a law firm with experience working with those companies.
Finally, corporate governance is another area of specialty where many a corporation’s finest assets are won and lost. This area of expertise requires highly specialized knowledge about complex business issues such as mergers and acquisitions, employee rights, employer liability, investment and accounting laws, and intellectual property issues. A good employment law counsel can analyze these and other areas with the greatest of ease, allowing his client to negotiate the best terms possible. The bottom line is that corporations must choose a law firm with the skills, experience, and reputation to handle all of their corporate governance needs.