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Corporate law (also known as business law, company law or enterprise law) is the body of law governing the rights, relations, and conduct of persons, companies, organizations and businesses. The term refers to the legal practice of law relating to corporations, or to the theory of corporations. Corporate law often describes the law relati
Corporate law (also known as business law, company law or enterprise law) is the body of law governing the rights, relations, and conduct of persons, companies, organizations and businesses. The term refers to the legal practice of law relating to corporations, or to the theory of corporations. Corporate law often describes the law relating to matters which derive directly from the life-cycle of a corporation.[1] It thus encompasses the formation, funding, governance, and death of a corporation.
While the minute nature of corporate governance as personified by share ownership, capital market, and business culture rules differ, similar legal characteristics and legal problems exist across many jurisdictions. Corporate law regulates how corporations, investors, shareholders, directors, employees, creditors, and other stakeholders such as consumers, the community, and the environment interact with one another.[1] Whilst the term company or business law is colloquially used interchangeably with corporate law, the term business law mostly refers to wider concepts of commercial law, that is the law relating to commercial and business related purposes and activities. In some cases, this may include matters relating to corporate governance or financial law. When used as a substitute for corporate law, business law means the law relating to the business corporation (or business enterprises), including such activity as raising capital, company formation, and registration with the government.
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Corporate law, often know
Corporate law, often known as company law, is a vast practice area that is important to law firms and in-house legal departments alike. It is a practice area that deals with the rules and regulations that govern business processes and transactions including mergers, acquisitions, equity investments, and restructuring, among other things. When a corporation hires a corporate lawyer, the lawyer represents the corporation as a whole, rather than its shareholders or employees, which might be a difficult notion to understand until one realizes that a business is treated the same way as a person in the eyes of the law. The law considers a company as a separate legal entity or "person" from its owners and shareholders. While taking on other forms of employment, corporate lawyers ensure that businesses comply with all laws, rules, and regulations.
Contrary to common assumption, most corporate lawyers seldom set foot in a courtroom, meaning they spend most of their time advising and assisting a company in avoiding litigation. The majority of Corporate Lawyers' job is "transactional" in nature.
Corporate lawyers are frequently employed by big or mid-sized law firms with corporate law departments and most of whom specialize in practice areas, such as general corporate, mergers and acquisitions, venture capital, or securities, some of which have been discussed in detail below:
- General Corporate
The general corporate practice encompasses all aspects of a company's life cycle, from entering strategy through incorporation and structuring, contracts and regulatory compliance, to corporate governance and transparency and accountability measures. The goal is not just on ensuring that the businesses are legally compliant, but also on anticipating future risk areas and provision of timely assistance and advice.
Lawyers, company secretaries, and compliance specialists work in General Corporate practice to guarantee that businesses comply with all legal and commercial requisites. The corporate practice provides assistance on the following:
- Commercial advice in the area of general corporate including information on the Companies Act, SEBI rules, foreign exchange management legislation, legal metrology laws, and BIS rules and regulations;
- Compliance audits and gap analysis;
- Outbound and inbound investments including joint ventures, mergers, and acquisitions;
- Forming legally viable structures, conducting due diligence, creating and negotiating transaction documentation, and assisting in closing necessary compliances are all part of private equity transactions;
- Interpretation of Policies;
- Establishing the business entity;
- Drafting of various contracts and agreements;
- Business restructuring;
- Statutory and regulatory compliances.
General Corporate practice is also involved in helping customers with a wide range of commercial contracts, including employment contracts, sales and purchase agreements, intercompany agreements, licensing agreements, franchise agreements, and so on. To assist industry leaders and regulators, this profession also includes policy advice and lobbying.
- Alternate Dispute Resolution
Alternative dispute resolution (ADR) is generally classified into at least four types: negotiation, mediation, collaborative law, and arbitration. Sometimes, conciliation is included as a fifth category, but for simplicity may be regarded as a form of mediation. Arbitration and mediation typically bring disputes to resolution without appeals or other prolonged judicial proceedings. There are occasions, however, where judicial challenges are imposed to address issues relating to the scope and enforceability of the dispute resolution process. In addition, there are other cases where collateral or appellate litigation inevitably occurs, whether justified or not. The alternate dispute resolution practice of a law firm usually includes:
- Choosing the appropriate ADR method.
- Counselling regarding the ADR clause in the contract agreement.
- Choice of law and seat of arbitration in case of international arbitration.
- Appointment of mediator, conciliator or arbitrator.
- Advising and representing clients from the commencement of arbitration until the final hearing of the matter
- Seeking interim measures of protection from courts and arbitral tribunals
- Assisting in enforcing arbitral awards and taking recourse against awards
- Mergers and Acquisitions
Mergers and acquisitions (M&A) is a component of corporate law that deals with corporations or businesses that acquire/buy and/or merge with one other other corporations or businesses. M&A transactions are among the most complicated and crucial events in a company's expansion policy, with both internal as well as external ramifications.
M&A lawyers help their clients pick the right financing for mergers and acquisitions, as well as provide guidance on the drafting, reviewing, negotiation, and execution and the due diligence of contracts relating to the sale of business assets. Large and medium-sized businesses do the vast majority of M&A activities. Buying and selling public companies is a common emphasis for large organizations. Private company mergers and acquisitions can be complex, especially when partnerships are involved. These are the largest and most complicated transactions, which are frequently cross-border and may entail cash and/or equity considerations. This practice area includes the following transactions:
- Acquisitions and divestitures – of shares, assets, and enterprises (by private, public, and publicly traded companies);
- Mergers, demergers, and amalgamations; schemes of arrangement, mergers, demergers, and amalgamations;
- Management buy-outs and leveraged buy-outs;
- Distressed asset sales and purchases;
- Capital and debt restructuring, as well as stock buybacks and capital reductions, are all examples of restructurings.
- Private Equity and Venture Capital
Private equity and Venture Capital is a branch of corporate law in which lawyers represent investors, sponsors, and managers of public and private pension plans, broker-dealers, investment advisers, custodians, and other financial industry service providers across the entire investment spectrum, with an emphasis on public and private debt, equity, and other investment options and investment vehicles, as well as related investment transactions, trajectories and pathways. Private Equity and Venture Capital practice include assisting in:
- Compliance with Takeover Regulations and Insider Trading Regulations through investment arrangements;
- Onshore and offshore fund structure and creation in India and abroad, as well as tax-efficient investment alternatives in India;
- Fund representation, either individually or as syndicate members;
- Drafting regulatory approval applications and dealing with compliance with regulatory bodies, such as SEBI / RBI;
- Documentation for fundraising;
- Prospective investee firms and prospects are subjected to due diligence.
- Negotiations from the term sheet stage through the close;
- Downstream investments;
- Guidance on portfolio businesses' continuing operations;
- Exit strategies and put them into action;
- Formation and structure of advisory and asset management firms;
- Advising investee firms on matters pertaining to venture capital and private equity investment;
- Banking and Finance
Banking and finance is a booming industry that intersects with a variety of sectors and overlaps with a variety of other professional areas both regionally and globally. Structured finance, securitization, project financing, promoter funding/loan against shares, syndicated lending, consortium lending, bonds, debentures, and commercial papers are all specific practice areas for banking and finance lawyers. Their role involves negotiating and documenting the contractual connection between lenders and borrowers, as well as guaranteeing that the terms of loan agreements represent their clients' best legal and economic interests.
- Corporate Debt - bilateral and syndicated rupee and foreign currency credit for capital expenditure, working capital, and general corporate objectives.
- Project Finance - roads, ports, airports, railways, conventional electricity, wind and solar power, and oil and gas are just a few of the Infrastructure & Energy industries where project finance is available.
- Acquisition And Leveraged Financing - employing senior secured, mezzanine, and subordinated loan structures for domestic and cross-border acquisitions and leveraged agreements.
- Asset Finance - for the purchase of equipment, ships, planes, and helicopters, as well as the establishment of security on such assets with Indian regulatory agencies.
- Real Estate Finance - is used to fund the purchase of real estate properties and projects, as well as the building of residential and commercial projects, as well as lease rental discounting and refinancing.
- Trade Finance - buyer's credit, supplier's credit, short- and long-term loans against exports, pre- and post-shipment credit, and bill discounting.
- Securitization - both traditional and asset-backed, as well as the establishment of securitisation trusts, the issuance of security receipts, and the issuance of securitized debt instruments
- Debt Capital Markets - debentures, foreign currency bonds, commercial paper, masala bonds, bank, and corporate MTN programmes, and other privately placed debt instruments.
- Corporate Debt Restructuring And Insolvency - asset reconstruction, schemes of arrangement, and actions under the Insolvency and Bankruptcy Code, 2016.
White Collar Practice
The term "white-collar crime" refers to financially motivated, nonviolent or non-directly violent crimes committed by individuals, businesses and government professionals. The White Collar practice in law firms defends businesses, senior executives, public officials and other individuals in a wide range of investigations and prosecutions. A typical white-collar practice in a law firm usually includes the following:
- Corporate Finance.
- Collecting, preserving, certifying and analysing evidence to help uncover facts and identify persons involved.
- Examining and establishing compliance policies.
- Assisting Indian companies to customize their anti-corruption and bribery policy to suit Indian and International law.
- Conducting training and awareness programs.
- Detection, incident management and risk mitigation.
- Liaising with internal and external agencies to provide end-to-end management of breach of security and fraud incidents.
- Liaising with internal and external agencies to strategically mitigate damage to reputation and unwarranted publicity.
- Structuring an organisation’s response to an incident.
- Implementing processes to handle future incidents in-house.
- Litigation support in criminal and civil proceedings.
- Representing in internal investigations and criminal and enforcement matters initiated by the government.
- Asset Management
Corporate Lawyers in the Asset Management Practice assist institutional alternative asset managers, smaller first-time sponsors and fund of funds, institutional investors, development finance institutions (DFIs), sovereign and pension funds, private banking businesses, government and corporate institutions, family offices, and placement agents with a full range of legal services.
The following are some of the areas where Corporate Lawyers work in Asset Management practice:
- Fund formations span all major asset classes and encompass retail and alternative investment fund formats.
- Drafting and negotiating fund investments, IMAs, custody, and prime brokerage agreements are all part of investment management.
- Regulatory reform – establishing compliance programs for asset managers operating in the United Kingdom, the European Union, the United States, and Asia-Pacific.
- Asset managers, underlying assets, and money transfers are all part of corporate and finance transactions in private equity, debt, real estate, and infrastructure.
- Working with lenders, borrowers, and sponsors at all levels of the capital system is what private credit is all about.
- Using the entire spectrum of solutions and international possibilities accessible to sophisticated investors for distressed investments and restructuring.
- Consultations with industry — working with individual clients or trade associations to successfully advocate their interests before regulators and legislators.
Conclusion
In a corporation, the corporate lawyer serves a variety of important roles. A corporate lawyer's responsibilities include ensuring corporate housekeeping (housekeeping typically refers to documents that involve the day-to-day operations and regular activities of the corporation), reviewing and evaluating contracts and documents, providing advisory and support to the company's senior leadership, and rendering views and interpretations of relevant court judgements.
A corporate lawyer helps businesses comply with rules and regulations, but that is only the beginning. In reality, everyone starting a business might profit from the services of a corporate lawyer. One of the main reasons behind this is that a corporate lawyer can help you build and plan your business for prosperity, even if you do not choose a corporation as your business structure. That being said, the job profile of a corporate lawyer is equal parts hectic as well as diverse, and one has to have a challenge-loving mindset in order to excel in this field.
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- Lawyers on average make more money than engineers but less than doctors. The differences in these salaries have more to do with supply and demand than anything else (doctors have the most post-college training and are smallest in number). In capitalist societies, no one gets paid according to their “contributio
- Lawyers on average make more money than engineers but less than doctors. The differences in these salaries have more to do with supply and demand than anything else (doctors have the most post-college training and are smallest in number). In capitalist societies, no one gets paid according to their “contribution to society” (a highly subjective measurement); rather, they get paid based upon how readily available and valuable their skill sets are.
- The average lawyer in the india makes about $130,000/yr, an upper-middle class salary to be sure, but hardly an extraordinary sum of money for someone who has 5 years of post-high school education.
- Not all lawyers get paid when they lose—many take cases on a contingency fee basis, and so do not recover unless the client wins. This approach allows people of limited means the ability to pursue litigation they otherwise would not be able to, which is a “contribution to society” in most cases.
- As for those lawyers who charge by the hour, the practice of law is uncertain and there are no guarantees. Even great lawyers doing great work are still at the mercy of courts and juries, both of which are unpredictable. A lawyer has a right to make money off his or her labor just like anyone else. Other professions are the same way: doctors, for example, don’t give you free care and supplies if it turns out that your health doesn’t improve after a visit or procedure, nor do people expect this, because the doctor is expending time, effort, and resources in attempting to assist you. Lawyers are no different.
- Are some lawyers a net drain on society? Yes, they are. But frankly, so too are a lot of doctors (engineers are tougher to criticize), although this is rarely mentioned. You can’t define professions with a broad brush: for every bad lawyer, there are a great many others who have helped individuals, groups, and even nations with their service, as well. People tend to hire lawyers because they need their assistance with silly little things like getting a fair criminal trial, being compensated after being injured or a business deal goes bad, or making sure that their rights are protected in a transaction. How this doesn’t benefit society is beyond me.
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24K viewsView 288 upvotesAnswer requested by Ihsan Latheef28813ōLand by OverlineSponsoredGet free land in the USA.Only 40,000 free plots remain; $5.5 million given away in the mysterious world above the United States.Learn More2.4K
Ronald Flores · FollowSr. Software Developer (1994–present)Upvoted by Jennifer Ellis, I'm a lawyer in PA, USA. Nothing I write is legal advice.5y
How much is too much? Who decides that? It's all subjective.
There are many misunderstandings out there, that all attorneys are wealthy....they are not. I am not.
Law school is no joke. It's not cheap. If you work for yourself it's a grind; like any other business. Not only do you have to pay for all your overhead, including health insurance, but you have to get clients. On top of all that there are strict rules about soliciting business. In my county there's a gazillion attorneys all fighting for the same dime. Not everyone needs a lawyer more than once; unlike a doctor or a dentist, hell even a car mechanic or a restaurant.
Getting people to pay is another problem. People like to waste your time when they're not on the clock.
I get appointed criminal cases from our county (no public defender's office in tis county) and I'm on a list for that; along with a hundred other attorneys and we're "supposed" to be on a rotation basis. We get $70 an hour in court or out of court. Some of you might be saying, "WHOA!! THATSA LOTTA MONEY!!". It's not. It's below what we can get for retained clients. I don't get paid until AFTER the case is done; sometimes over a year and a half...and that's 2-3 months AFTER the case is done. The cases are capped too depending on the level of crime it is (misdemeanors and felony types). Sounds like I'm bitching. I am, but I'm also not. I signed up for this.
Law is HARD. It's not always an open and shut case. Every case is different because of the details. Judges are weird and unpredictable. Prosecutors do not return phone calls, emails, or letters...they don't care either because defense attorneys are scum to them. Prosecutors don't disclose everything they're supposed to. Juries can be dummies. Cops lie... A LOT!! Your clients lie... A LOT!! Practicing law has long hours and can be stressful.
Lastly, the ramifications of a case outcome can be monumental; it can affect the rest of your life and your family's life. This is why lawyers are expensive.
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