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.
Guiding the firm on the procedures to follow when acquiring long term assets such as real estate. 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. On top when it comes to acquisition of machines the lawyers are in charge of ensuring the terms set are followed such as issuing of warranty.
The company’s lawyers also assist the company in dealing with human resource conflicts. 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. Companies have been sued by employees for terminating the contract without following the correct channels. Leading to firms losing the case to the employee, therefore, having to honor the harsh terms issued by the court. Also the lawyer assist the firm in developing of the employment agreement.
There are also so many statutory rules and regulations that companies are expected to follow. Companies hire lawyers to make them understand what is expected of them, legally, by the government.
Being sued is also a major concern to businesses. 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. The work of a lawyer is not only to defend the company but also to press charges on behalf of the company.
Advocates will also be involved when the company is bargaining with outsiders. For example when bargaining with different providers of company’s goods and services or when the company is planning to combine its operations with another company. Lawyer role is to educate the company on the different legal requirements and the disputes resolution channels provided by the law.
Companies whose shares are traded in the public also require lawyers to guide them through various legal requirements such as the members of the board and different shares laws. Having competent lawyers in a public company also improve the public image of the company.