Corporate Lawyers: How They Can Help You

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Corporate lawyers play an important role in helping corporations operate smoothly and efficiently, advising on how to navigate corporate law effectively. They advise organisations on a variety of legal matters, ranging from formation and organization to M&As.

These lawyers also draft and negotiate legal documents, carry out diligence, and they also assist with the issuing of shares.

Organisations of all sizes can benefit from the services of a corporate lawyer. For a small business, a corporate lawyer can provide valuable guidance on a wide range of legal issues surrounding a business. For a larger business, a corporate lawyer can handle complex deals and provide specialized expertise including on real estate matters.

How corporate lawyers are different from commercial lawyers

The difference between corporate and commercial city lawyers may cause some confusion because each lawyer’s services may overlap, especially within the same industry or sectors, but there are some key differences. It is important for your business that you know which one to contact depending on which service is required.

While they both involve similar laws, the context is an important distinction. Corporate lawyers advise organisations on a variety of legal matters, such as formation and organization, and contract negotiation. Commercial lawyers, on the other hand, focus more on handling transactions involving the sale of goods and services, often specialising in a sector.

How corporate lawyers help businesses of all sizes

As mentioned earlier, businesses of all sizes can benefit from a corporate lawyer. For a small limited business, a corporate lawyer can provide valuable guidance on a wide range of legal issues and can make the executive’s jobs easier.

For example, startups that may not have in house counsel may need guidance on venture capital legal documents or on protecting their intellectual property such as applying for patents or copyrights.

In addition, lawyers can assist with the issuance of shares for limited companies, such as making sure the shares are not issued below their nominal value as otherwise they would be void and advise on the best way to structure a business to minimize liability.

For larger businesses, a corporate lawyer can handle complex transactions and provide specialized expertise. They can also help with compliance issues, such as disclosure requirements for public companies regarding corporate law. Additionally, corporate lawyers can assist with the negotiation of mergers and acquisitions, and they can draft and review documents for these transactions.

The role of corporate lawyers in mergers and acquisitions

If you are looking to enter a career in corporate law, salary, job specifications, number of skills required, and sizes of deals handled by the chosen office location may be factors to consider.  Your responsibilities would also entail considering how data resources impact a transaction and could include advising clients in corporate matters and helping negotiate and draft various agreements.

A Merger is when two companies combine to form a new company, while acquisitions involve companies being bought by other companies. An example of a recent acquisition is the Manchester-based financial company Conferma Pay being acquired by the Texas-based Sabre corporation.

Corporate solicitors need to know the multiple statutes in corporate law that facilitate takeovers, as well as the rules and regulations of the different stock exchanges. In addition, they must be able to draft legal documents that protect the interests of their clients.

Merger & acquisition agreements

Agreements for M&As have several key components which are drafted by corporate lawyers. The first is the definition of terms used in the document, to avoid the parties any ambiguity later. This is followed by the objective of the contract, which states that the selling company agrees to sell shares and the buying firm agrees to purchase shares.

The next key component is the different types of contract terms, such as conditions and warranties. These state the contractual obligations for each party. For instance, a condition may be that all employees of the company being acquired must be transferred to the new company. Professionals focused on corporate law are needed to determine what terms are conditions and which ones are warranties as they have different consequences if they are breached, and the buyer needs to be aware of these consequences for risk analysis.

Finally, there are clauses involving the governing law of the contract and jurisdiction. Due to mergers & acquisitions commonly happening between international parties such as the Saber & Conferma pay example the lawyers must include these clauses to avoid the complicated and long “conflict of laws” process for a court to find jurisdiction should litigation over a contractual breach occur.

Using, as a starting point, contract templates saves time during the drafting process which benefits the client by reducing the time spent on drafting the agreement, hence their fees for the solicitors’ services are reduced.

Carrying out due diligence for a transaction

Due diligence (DD) is the process of investigating a company or asset to assess its value. This is typically done by corporate lawyers when a business is considering buying another company or investing in a new venture. The DD process is complex, and corporate lawyers must thoroughly review all of the target company’s records to search for any red flags that could indicate problems. These may include extremely high salaries for current employees, failure to comply with the law and other law related issues.

When lawyers review legal documents between a company and its clients or suppliers, they conduct DD. This helps to guarantee that the contract’s provisions are appropriate and fair; and that there is nothing in the agreement and the disclosed documents that might endanger the client.

This research helps buyers find and avoid risks in the business they are deciding to buy and therefore is an important part of a corporate lawyer’s service and vital to the transaction.

What is legal tech?

Legal Tech is the use of technology to help lawyers with their work. Law firms have been adopting Legal Tech more since the pandemic;  it includes everything from simple document storage and retrieval systems to complex analytical tools that help lawyers predict the outcomes of cases.

Some of the most popular Legal Tech resources are those that help with DD. These products use AI to scan large numbers of documents and identify key clauses or risk factors. This can save corporate lawyers a great deal of time and effort when reviewing contracts or other legal documents.

How does legal tech benefit corporate lawyers in their practice?

There are many benefits of using Legal Tech products, but perhaps the most important is that they can save corporate lawyers a great deal of time and effort. This is because Legal Tech products can automate repetitive tasks or provide tools that make it easier to find information.

For example, a Legal Tech product that helps with document review can save corporate lawyers hours the time spent reading through contracts and other related tasks. This is because the product can scan documents and identify key clauses or risk factors for the client.

Another benefit of using Legal Tech is that it can help corporate lawyers stay organized and meet deadlines. This is because many Legal Tech products offer case management features that help lawyers keep track of filings and deadlines.

How do clients benefit from corporate lawyers using Legal Tech?

There are several ways in which the use of legal tech can benefit clients. First, it can save them money. This is because Legal Tech products can automate repetitive tasks or provide tools that make it easier to find information. For example, Legal Tech product that saves corporate lawyers hours when reading contracts. This means solicitors save time which saves the client from paying more money than needed due to repetitive tasks.

Second, the use of legal tech can help ensure that corporate lawyers meet deadlines. This is because many Legal Tech products offer case management features that help lawyers keep track of filings and deadlines. This means that important deadlines are not missed, and the client can be confident that their case is progressing as it should. This therefore also improves the level of service provided to the client. Corporate lawyers can spend more time providing a high level of service to their clients, rather than on repetitive tasks or managing their caseload.

Legal Tech software can be loaded onto multiple devices such as tablets allowing for flexible use. This means lawyers and their teams can perform faster DD no matter the location, whether working from home or in the office.

Corporate law and private equity

Another role of a corporate lawyer is to advise and facilitate the financial aspects of corporate law such as private equity acquisitions by a private equity firm of another company.