Some businesses, particularly larger ones, will have a general counsel on site. But for most part-time entrepreneurs or small business owners, they’ll either need to budget for general counsel services or hire a lawyer from a business law firm that can guide them through any legal issues they might face. Sure, lawyers cost money, but they can help business owners save money in the long run by preventing legal problems from occurring.
A business lawyer can protect your company from consequences that could entirely put it out of commission. Additionally, when dealing with corporate governance issues, negotiating a contractual relationship with another business, or reviewing and implementing a Mergers and Acquisitions(M&a) transaction, having an expert lawyer on your side is immeasurably helpful.
Here are examples of the outside general counsel services frequently provided to businesses
Maintaining corporate governance documentation
When it comes to being liable for your actions, and you’ve got a board of directors or shareholders to answer to, you’re going to have to develop conscientious corporate governance documents. A business lawyer can help you establish these documents and ensure they’re up-to-date and compliant with all applicable laws.
Mergers and Acquisitions
Typically, in a Merger and Acquisition deal, one of the first things that any outside counsel will do is review the appropriate legal documents. This may include reviewing stock purchase agreements, the listing agreement, and all other relevant documents that you will need to deal with a potential merger and acquisition agreement. A good outside general counsel will have a deep knowledge of the relevant legal documents and negotiation strategies.
Drafting Employment Agreements, NDAs And Non-competition Agreements
In addition to helping you establish your corporate governance documents, a business lawyer can help you draft both employment and non-compete agreements for employees. These kinds of contracts can be beneficial when it comes to establishing the hierarchical structure of a company and preventing employees from using your proprietary information for their own profit. These documents can be very complex, so make sure you have the counsel of a respected business law firm to help you draft these documents in a way that will be effective for a long time.
If you’re looking for ways to negotiate with your customers, partners, or employees, there’s a good chance that you’re going to need an attorney to consult on these matters. After all, a good lawyer can review the terms of your contract and advise you on what needs to be changed or removed so that it satisfies both the business and its various stakeholders on both sides of the table.
Employee Termination Advice and Support
When it comes to firing employees, some legal issues need to be addressed. Your attorney can make sure you’re in compliance with all applicable laws and provide practical advice on how to terminate an employee in a manner that’s both fair and agreeable to everyone involved.
After reviewing the wide range of services that outside counsel can provide to companies, it’s clear that hiring a lawyer in any capacity is a wise investment. This is especially true if you’re looking for ways to protect your business or other stakeholders from legal issues that may arise.
With an experienced attorney on your side, you can be certain that your business will be fully protected. Contact Norwood Law Firm today to schedule your complimentary consultation.
Norwood Law Firm,
1717 S. Cheyenne Ave.