Corporate law is that area of law that deals with the laws, rules, and regulations that govern the creation, administration, and dissolution of corporations and other business organizations. Part of this involves dealing with legal issues between corporations and other parties such as contractors, clients, and partners. Corporate law also deals with the relationship between corporate entities and the government, whether at the state or federal levels.
There are plenty of potential players in the activity of a company and a corporate lawyer helps navigate and resolve any complications that may appear from this activity.
Corporate law aims to protect the rights of each player and requires everyone to follow the applicable federal and state statutes when operating one’s company and when conducting business.
The Different Roles in a Business
Let’s analyze the roles that a person can play in a business.
You can be a founder, meaning that you own the company and have a right to obtain the benefits it earns, as well as having the burden to bear the losses in the case of failure. You might also be an investor, that is, someone who contributes his money to someone else’s business. In this case, there appears a deal that determines reciprocal obligations of the investor and the company owner. This generally supposes sharing the equity of the company. To run a corporation, one needs a chief executive officer (CEO). A CEO would be responsible for managing the business and working with the company’s elected board of directors, who represent the shareholders. Appointing a CEO has many practical benefits for one’s business. For example, if an owner wants to avoid leaking the corporate info to others, he can require the CEO to sign a nondisclosure agreement. This would subject the CEO and other players mentioned to the field of legislative regulation.
These are just a few of the roles in a business. Yet, these few roles alone show just how complicated regulating a business is, don’t they?
Corporate Issues and Legal Disputes
What if the investor does not get his money back? What if the CEO breaks the non-disclosure agreement and leaks some corporate secrets and other important information to a competitor? Can you protect your corporate product with a patent?
The list of the situations and questions will reach hundreds, in case we fill many of the mentioned possibilities with additional particularities. And this is still all about the three roles we have just discussed! But in reality, the number of stakeholders and players with different roles may be much higher.
Even the founding of a company is a legislative procedure. As such, it is better to know the taxation, employment, and other basic norms which you will have to face as the company founder. Even the very form of the organization determines the rules that a future organization has to obey.
Which form is the best for you – sole proprietorship, corporation, partnership, or Limited Liability Company? How to start a business? What are the procedures and paperwork that you need to do so? These are pretty reasonable questions that you might be asking yourself while thinking about starting a business.
Even at this stage, it is better to consult with an experienced law firm. For it is better to correct and avoid serious mistakes at the very beginning rather than catch them late in the game. Bottom line: if you are about to start a business, we recommend contacting a corporate lawyer to advise you on how to best get started.
Corporate Lawyer – Taher Kameli and his team are experienced in all the legislative procedures and peculiarities one may face while starting or running a business.
Needless to say, having a business lawyer is crucial whether it be to help with protecting intellectual property or litigating corporate disputes. Yet the latter can involve a range of expenses which can be taxing on the funds for one’s business, especially if the litigation carries for an extended period lasting months or years.
The best way to avoid such protracted litigation is to have a trustworthy business advocate who coordinates your company’s activities. That way you can do a better job avoiding litigation in the first place.
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