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Business 348 views Mar 31, 2016
Reasons to Hire a Corporate Attorney

Business attorneys have a lot to do: mediate in inter-firm disputes, see deals through the stormy legal waters, and oversee the legality of the procedures of mergers and takeovers; among a host of other functions. In short, there’s not much a firm can do to stay relevant in the competitive business environment if it is devoid of a legal officer to represent it in courts of law and guide it through the pitfalls and loopholes of the legal apparatus of the country where the firm is operational.

 

It’s not always that a firm’s owner understands the legal implications of the terms he’s thinking of setting before a potential partner, or a clear understanding of what it would take to get a company innovation patented. So, in these cases and more, the assistance and guidance of a corporate attorney is of paramount importance. One can hire a permanent legal officer or simply go for hiring a contractual lawyerfor a specific time frame. Below are some of the utilities of hiring a commercial lawyer:

 

Licensing: The issue of getting your own innovations and indigenous methods copyrighted or patented. Without an experienced intellectual property lawyer to instruct you on how to safeguard your intellectual property, you could be facing a huge loss from theft of an idea by a rival company.

 

Liability Agreements: Every company should have a liability agreement in place to safeguard the interests and reputation of the company. For example, if the firm deals with hazardous work, then a lawyer should be hired to lay down agreements which make sure that the firm is adhering to regulatory guidelines for manufacturing practices. Also an agreement should be drawn up which clearly states that the firm would not be liable for damages suffered by employees under certain circumstances.

 

Mergers and Takeovers: Sometimes, there are tricky and grey areas in an agreement whereby one company buys out another one, or two corporate chains decide to merge units. In these cases, the agreements are likely to hit a lot of legal hurdles and have loopholes which might hurt the interests of one of the companies. Under these circumstances, it is mandatory to have a lawyer oversee the procedures of agreement. The lawyer should take an active role in laying down the terms and clauses to be followed by the other firm while sealing a deal.

 

Signing Contracts: Sometimes, a contract would have a lot of things which would be non-beneficial for a company, but they would often be hidden from apparent view in technical babble. As a result, something, that may seem benign to a layman, would be viewed differently by a veteran lawyer who would be able to identify the catch in a problematic agreement and prevent the firm from suffering potential losses.

 

The ones stated above are only a few examples. But in reality, the scope of work for a corporate lawyer is vast and immeasurable. There’s a profession which is indispensible for maintaining the rule of law in corporate affairs.