Five Essential Functions Of A Corporate Solicitor

One of the most valuable resources any business has at its disposal is access to strong and sound legal advice. From protecting their current interests to safeguarding themselves against unwanted future scenarios, working closely with corporate law solicitors means being prepared for every moment any business will encounter over the weeks, years, and decades that follow its formation. 

1. Restructuring companies by selling shares and assets

Thankfully, it’s no secret that restructuring share capital or financial arrangements, or selling assets, is not something you do on a whim. Things need to be handled with care to ensure that the legalities reflect your intentions and that you won’t run into any setbacks further down the line. 

2. Listing companies on the stock exchange

Taking a business public represents an exciting moment in its lifecycle, and a great opportunity to see financial growth and greater exposure. 

At the same time, it’s not as simple as adding your business’ name to a list. There are many regulations and legal requirements to adhere to, and it takes considerable experience in this area of law to ensure that every ‘I’ is dotted, and every ‘T’ crossed. 

3. Merging a company with another business

While mergers and acquisitions represent exciting times for companies, they’re also extremely complicated, highly time-consuming, and, for everyone involved – from shareholders and directors to the business’ employees and clientele – characterised by apprehension and confusion. 

This is not a process you want to improvise. The ramifications of any legal document (of which there will be many) require close scrutiny, and that’s not something anyone who has not spent years learning the ins and outs of corporate law can attempt on their own. With a corporate solicitor there to offer guidance and proactive support, you don’t need to feel as though you are walking a tightrope. 

4. Corporate governance

Maintaining a strong relationship between shareholders and directors, and ensuring that the management of the company remains strong, ethical, and scalable as processes evolve, workforces grow, and ownership changes hands benefit immensely from the input and guidance of a corporate solicitor. 

This is not something that they are only required to weigh in on at the formation of the business; things are constantly changing, and the importance of having a solicitor who has stood alongside your business throughout those different stages cannot be overstated. 

5. Regulatory compliance

Whatever industry it operates within, any business is required to conform to any number of regulations. A strong example of this lies in data protection and adherence to the requirements of the UK General Data Protection Regulation (GDPR). Businesses that fail to comply with the relevant laws and regulatory frameworks risk more than just hefty fines – they risk irreparable damage to their reputation and, in extreme cases, dissolution. 

Again, this isn’t something you want to deal with as and when you remember, find the time, or realise you’re at risk of non-compliance. A corporate solicitor knows better than anyone what is expected of your business and will ensure you remain above board.

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