For most people, when they launch a business there will be a list of positions that definitely have to be filled. From marketing to accounting, business owners know that these jobs need to be done. But what about a corporate law attorney? Will they even feature on the list at all?
They should. Although they won’t be needed on a daily basis, a good corporate law attorney should be on hand to consult with throughout the life of the business; from the startup stage to selling the business when it has reached its full potential, a corporate law attorney is going to be the person you turn to the most.
It’s frustrating and difficult to deal with the many legal issues that running a business entails, and business owners have enough to do without also having to learn every aspect of Canadian law to enable them to handle every question or problem that comes their way. A corporate law attorney can take on this role, giving you peace of mind that an expert with plenty of experience is dealing with the challenges that you would otherwise have had to manage.
Legal problems can affect all kinds of businesses, and just because you think – or hope – it won’t happen to you, having a corporate law attorney ready to assist you if it does is something that will stand you in good stead. Read on to find out just what a corporate law attorney is so crucial to a business.
One of the most important tasks that a corporate law attorney will face is the drafting of contracts. No matter what size business you run, or what it sells, contracts are going to be required, whether it’s between the business and a customer, an employee, or a supplier. Even if you choose to draft the contract yourself, it’s wise to ask your corporate law attorney for advice at the very least, and ideally, you should ask them to draft the contract in its entirety. Not only is this quicker, but it means that the contract will mean exactly what you want it to mean.
It’s easy to miss areas from a contract that will later become important. A good corporate law attorney will have plenty of experience in exactly what you need, and they will know what to include in order to protect all parties and reduce – and ideally eliminate – and lawsuits in the future.
Legal issues will occur when you are buying or selling a business. This is not a normal, everyday kind of purchase, and sometimes the different permits, licenses, and even the valuation can be complicated.
If you are undertaking either the sale or purchase of a business, having a corporate law attorney to help you is the best thing you can do. Trying to navigate the ins and outs of this kind of important, serious purchase is not something that most people will easily be able to do, nor is it something they will want to do – this is why hiring a corporate law attorney should be the first thing you do.
During the purchase or sale of a business, the lawyer will make sure that stocks are transferred correctly, and that buyers are vetted thoroughly. They will also negotiate the entire deal if required, ensuring that you get the very best price whether you are the seller or the purchaser.
Setting up a business can be a simple affair, but if you want to do it right and not leave any potentially damaging loopholes, you will need a corporate law attorney to turn to for business advice. Being better informed about setup costs, potential liabilities, employment law, tax obligations, and continuing expenses, among other important elements of running a business, means that you can make better decisions in your day to day work because you understand more about your legal obligations, and how to move forward in your business.
Although it is possible to draft legal documents yourself and to handle many other legal aspects of running a business personally, this could be costly and time-consuming in the long-term, even if it means lower upfront fees to begin with.
Although the creation, sale (and sometimes purchase) of securities and shares might seem like a simple process, there are a variety of things that can go wrong at any point in the transaction, and a corporate law attorney handling this aspect of your business for you will be able to anticipate these issues and resolve them before they become a bigger problem.
The attorney will also be able to ensure that the transactions are handled legally and that all the correct paperwork is drafted and filed. If this is not done, or if there is an error, the transaction may not be a legal one which will cost a great deal of money to put right (assuming it can be).
If a dispute arose in a corporate context within your business, would you know how to handle it successfully? If you had a good corporate law attorney to turn to, this would not be something you needed to worry about; you can hand all the queries and legal work over to them to work on while you concentrate on other aspects of your business.
Corporate disputes could include contract disputes, professional negligence, and shareholder disputes among other things. Any kind of dispute within a business can be concerning for a business owner and trying to work through the problem yourself might seem cost-effective, but the results won’t often be what you’re looking for. Hiring experts to help will ensure a quick, efficient solution to the problem.
For expert corporate law attorneys working on your site, contact Baker Law Firm today. We can handle any corporate law inquiry, giving you complete peace of mind that no matter what legal areas you need to be covered within your business, we’ll be there for you whenever you need us. Professional, experienced, and reliable, we’re the law firm in Calgary you can trust.