Corporate lawyers provide services to businesses that can prevent lawsuits and avoid red tape that can grind business productivity to a halt. That's one of the reasons why hiring a corporate lawyer to create legally sound deals and transactions can be well worth the time and money.
Many business deals go wrong when the contracts and agreements they're founded upon are not legally clear or valid. This lack of clarity can create a flaw in the deal's foundational structure and lead to protracted legal disputes that don't make anyone.
Contracts: whether you're drafting an acquisition contract or an agreement of solo proprietorship, having a corporate lawyer draft your contracts to include provisions for contingency mitigation and addendums to anticipate potential sticking points is crucial. For instance, when agreeing on a deal to purchase merchandise, a corporate lawyer can include language that provides guarantees about the quality of the products and punitive measures for breaching the contract. This means that if a vendor is late delivering a product and/or the product doesn't meet the quality standards you agreed upon, you will have a clear legal remedy in place. Having these provisions in place provides security to both parties. In the event that a dispute related to the contract requires litigation, your corporate lawyer will have intimate knowledge of the contract details and a vested interest in defending you.
Corporate transactions are often layered and complex. From paying down debts to distributing investment dividends, a corporate lawyer can facilitate transactions that are legally binding and compliant with tax laws.
Escrow: business deals shouldn't be made with a handshake or a hastily written check. Utilizing a corporate lawyer to hold funds and assets in escrow can create a safe conduit for business transactions. For instance, if your business aims to acquire a tract of land, you can create an escrow account for the transaction that holds earnest money and other collateral that might be used to secure the deal. These escrowed funds will be held by your corporate lawyer while the contracts that dictate the transaction are drafted, negotiated, and finalized. When both parties are satisfied with the transaction, the corporate lawyer can release the funds. Escrowed can also be used when working with a bank to secure loans or purchase bank-owned properties. These accounts also create the tax information you'll need when you file your tax return at the end of each fiscal quarter.
Reach out to a corporate lawyer for more information.Share