Functions of a Company Attorney.
Companies nowadays find themselves in many dealing that requires signing of contracts or another legal requirement. It is not advisable for companies to undertake such transaction without having lawyers present as it may later lead to problems. A company’s advocate plays the following roles.
Legal counselor should be present when undertaking long term investment in assets such as land. It is important for a company to have a lawyer when planning to buy long term assets. Due to the high number of persons selling items that do not belong to them under pretense. The company’s lawyer will be tasked with conducting due diligence and ensuring that the documents provide are authentic. The company’s lawyer will also follow up on machines repairs or replacement in case of breakdown before the end of the stipulated period.
There may also be issues involving company’s workers that need a lawyer’s intervention. Industrial action taken by employees is a common thing in current labor market. The company’s lawyer will be involved in solving the conflict with the workers. Lack of attorney’s guidance may result in a company illegally firing an employee which results in the company being taken to court. Which resulted in companies paying huge compensation amounts. The legal counselor will also draft the employees’ agreement on behalf of the firm.
The company also has to comply with the requirements issued by the government. The company’s lawyer is responsible for training the company about such requirements and assisting the company to follow them.
It is also common for firms to be taken to court on suspicion of violation of different laws. At this times it is necessary to have a company’s lawyer to defend you throughout the case. Some of the complaints against the company may not even be substantial, but the plaintiff may be taking advantage of the company’s lack of legal expertise. Also the company may need to take legal action against another company or person, thus creating a need to have a lawyer undertake that responsibility.
Advocates will also be involved when the company is bargaining with outsiders. Such as negotiation with suppliers or acquisition or merger deals. Lawyer role is to educate the company on the different legal requirements and the disputes resolution channels provided by the law.
Corporate lawyers are also hired to train companies on the requirements for going public. Having competent lawyers in a public company also improve the public image of the company.