Functions of a Company Attorney.
In today’s market, many of the business transactions will need to be legalized by signing and meet set legal regulations and procedures. It may be a mistake to conduct the activities without have representation of a trained legal counselor as later the company may find itself in trouble. Functions of a company’s lawyer includes.
Advising the company on the legal requirements when purchasing non-current assets, such as land. It is important for a company to have a lawyer when planning to buy long term assets. The reason is that currently there has been an increased number of con people selling items that they have no ownership or authority to sell. The responsibility of the company’s advocate is to ensure the seller is the rightful owner or has the authority to sell the property. Also the lawyer advise the company on legal course to take in case of disputes over machinery warranty.
The company’s lawyers also assist the company in dealing with human resource conflicts. It is common for company’s employees to strike or take any other action against the employer. It is the role of the company’s legal counsel to recommend the best course of action to take. Companies have been sued by employees for terminating the contract without following the correct channels. This has resulted in company being found liable to pay the employees large amount of money to settle the case. Also the lawyer assist the firm in developing of the employment agreement.
There are also so many statutory rules and regulations that companies are expected to follow. The company’s lawyer is responsible for training the company about such requirements and assisting the company to follow them.
Being sued is also a major concern to businesses. When a company gets sued it is advisable to hire a lawyer to guide them throughout the case. Some of the people suing the company may just be looking to threaten the company, to pay them off, to drop the case even though the company may not even be liable. The work of a lawyer is not only to defend the company but also to press charges on behalf of the company.
During any negotiation, it is important to have legal representation. For example when bargaining with different providers of company’s goods and services or when the company is planning to combine its operations with another company. The importance of the lawyer is to advise on the legal procedures set for such deals and defend the company in case of conflict arises.
Public companies also have attorneys who advise them on securities laws and the requirement for board members. Public companies also hire professional legal counselors to boost the confidence of the investors in the company.