What does a corporate lawyer do?

merehan
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What does a corporate lawyer do?

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What do you imagine when you hear the term 'corporate lawyer'?
Is it a man or woman dressed in a nice suit, carrying a briefcase, quickly running up the steps of a stately state building? While many of us are able to conjure up an image of what we think of as a corporate lawyer, not many of us can (accurately) imagine what corporate lawyers actually do all day.

What is the role of a corporate lawyer?
The role of a corporate lawyer is to advise clients about their rights, responsibilities and duties under the law.
When a corporate attorney is hired by a corporation, the attorney represents the corporate entity, not its shareholders or employees. This can be a confusing concept to understand until you know that the company is in fact treated like any person under the law.

A corporation is a legal entity created under state law, usually for the purpose of running a business. A company is treated as a unique entity or 'person' by law, separate from its owners or shareholders.

Corporate law encompasses all of the legal issues that surround a corporation, and they are many because corporations are subject to complex state and federal regulations. Most states require corporations to hold regular meetings, such as annual meetings of shareholders, along with other requirements.

Corporate lawyers make sure that companies comply with these rules while doing other types of work.

What type of work do corporate lawyers do?
Contrary to popular belief, most corporate lawyers rarely step into courtrooms. Instead, most of the work they do is 'transactional' in nature. This means that they spend most of their time helping the company avoid litigation.

More specifically, corporate attorneys may spend their time on:
Contracts: Review, draft, and negotiate legally binding agreements on behalf of the company, which can include everything from lease agreements to multibillion-dollar acquisitions
Mergers and Acquisitions (M&A): Performing due diligence, negotiating, drafting, and generally overseeing “deals” that involve a company “merging” with another company or “acquiring” (purchasing) another company
Corporate Governance: Helping clients establish a framework for how a company should be directed and controlled, such as drafting articles of incorporation, creating bylaws, advising company directors and officers about their rights and responsibilities, and other policies used to run the company

Venture capital: helping startup or established companies find capital to build or expand a business, which can include private or public funding
Securities: Advising clients on compliance with securities law, which includes complex regulations aimed at preventing fraud, insider training and market manipulation, as well as promoting transparency within publicly traded companies
In many cases, corporate lawyers work for large or medium-sized law firms that have corporate law departments. Many corporate lawyers have specializations or areas of corporate law that they focus on such as mergers and acquisitions, venture capital, or securities.

Some corporate lawyers work at home, and most large firms have their own legal departments. In-house corporate attorneys generally handle a wide variety of cases.

What does someone need to become a corporate attorney?
The path to becoming a corporate lawyer is not very different from the path to practicing another area of ​​law. To become a corporate attorney, one needs to attend law school to obtain a Doctor of Laws (JD) degree and be licensed to practice law in their state.

Often, corporate attorneys will have previous work experience in the business, but this is not generally required.

What skills do corporate lawyers need?
Corporate lawyers must have excellent writing, communication and negotiation skills because these skills are highly relied upon in the day-to-day business of corporate law.

Because corporate law is such a diverse field of practice that touches on many different transnational, regulatory, and business-related matters, it is important for a corporate lawyer to have a willingness to learn about many different areas of law, unless he or she wants to specialize in one location. A field such as securities law.

In addition, many corporate lawyers have multiple clients in different industries, which means they must be willing to learn the ins and outs of those unique industries.

Finally, corporate lawyers need the skills and means to communicate with other attorneys when they come to a specialized topic in which they have no expertise such as taxation, ERISA, employment, or real estate.

When might an individual or company need the help of a corporate attorney?
Corporate lawyers advise companies on how to comply with the rules and laws, but this is only the beginning. In fact, any individual starting a business can benefit from a corporate lawyer. why? Because a corporate attorney can help you structure and plan your business for success, even if you end up with a business structure other than a corporation.

It's always a good idea to have a lawyer on board to draft documents for running your business, review contracts, and help you make other strategic decisions.

Of course, it is not always possible for small businesses (or even medium-sized businesses) to have a corporate attorney by proxy, but one should be consulted when forming a corporation, when closing a business, and when problems arise, at the very least.

Consider meeting with a corporate attorney in your area if you are starting a business or need advice on anything else related to business dealings or planning.

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