In this blog, we’re taking a closer look at the role of corporate solicitors, their areas of expertise and responsibilities and how a corporate solicitor can help your business.
What Is a Corporate Solicitor?
The role of a corporate solicitor is to advise businesses on their legal rights and obligations.
Corporate solicitors represent the corporation or company that they’re hired by, rather than the company’s employees or shareholders so that the business entity itself is their client. They use their extensive knowledge of corporate law to ensure that a business operates within relevant rules and regulations and is compliant with the law.
What Can a Corporate Solicitor Do For My Business?
The role and responsibilities of a corporate solicitor will vary depending on the type of business they’re working for.
Some of the main duties for a corporate solicitor include:
Legal Expertise
From day one of your business, a corporate solicitor can offer legal expertise on a wide range of matters. For example, they can advise you on how best to structure your business, such as whether to set up as a partnership or limited liability company, how to navigate the cash flow of your business, what insurance you’ll need and how to find suitable premises to run your business from.
Dealing With Contracts
A key obligation of a corporate solicitor is navigating any contracts your business requires. This might involve drafting contracts or reviewing and negotiating them on behalf of your business to ensure that you get the best possible terms and that any contracts you sign are lawful.
Intellectual Property
Corporate solicitors can help protect your intellectual property (IP) by registering patents, trademarks and copyrights, and dealing with licensing and enforcement of your IP.
Resolving Disputes
A corporate solicitor can help you resolve disputes while protecting your business interests, maintaining professional relationships and minimising disruption.
Litigation
If your business requires support with litigation processes, a corporate solicitor can gather evidence and defend your business in court, or pursue legal redress on behalf of your business.
Compliance
A significant aspect of a corporate solicitor’s role is to ensure that your business is compliant with all relevant aspects of the law that apply to it, including employment law, environmental laws and data protection laws such as GDPR.
Due Diligence
In the event that you wish to sell your business, merge with another company or seek investment, a legal process known as Due Diligence must be carried out first to investigate your business for any potential issues or areas of risk. This is a lengthy and complex process for which your business will require legal advice.
Planning for the Future
A corporate solicitor can help you plan for the future of your business, whether that’s exploring opportunities for growth such as franchising, mergers, succession planning or selling your business.
The Benefits of Hiring a Corporate Solicitor
There are many benefits to hiring a corporate solicitor for your business. Seeking advice and support from an experienced corporate solicitor can:
Save You Money
A corporate solicitor can save your business money by helping you avoid fines or litigation for non-compliance with the law. They can also save your business money by offering advice on financing, taxes and debt, and pursue outstanding monies or take legal action against other companies or individuals who fail to fulfil their obligations or meet the terms of their contract.
Guard Against Legal Issues
Having a qualified corporate solicitor on hand to risk-assess aspects of your business and advise you on legal matters can help you prevent future problems and ensure any issues are addressed in a timely and efficient way.
Ensure Your Business is Fair and Ethical
Corporate solicitors can ensure that your business is being operated in a fair and ethical way, offering reassurance to business owners, shareholders and clients or customers. A corporate solicitor can ensure that profits and responsibilities are divided and disputes settled fairly.
Give You Peace of Mind
Hiring a corporate solicitor for your business gives you peace of mind that you have legal expertise on hand, that your business is fully compliant with all relevant laws and regulations and that your business is protected.
Blacks Legal Ltd: Corporate Solicitors to Help Your Business
If you’re a business owner looking for legal advice or support, Blacks Legal have a wealth of experience in corporate law to help you find a way forward and protect your business interests.
Our team of specialist corporate solicitors can offer their expertise on a wide range of corporate matters, no matter what your industry or the size of your business.
Here at Blacks Legal, we're committed to exceeding our clients' needs and delivering the best possible result every time. To discuss how our corporate solicitors can help your business, please don’t hesitate to get in touch.
