Corporate law services in Barrie help businesses all around Central Ontario, Canada face legal challenges everyday. They provide sound advice and expert counsel for business owners and company executives and handle business transactions associated with the daily activities of the business.
Since corporate law is a diverse field, lawyers have specialty practice areas in order to provide representation on a wide range of legal issues that affect businesses. Many areas of a business may be managed by corporate law services, depending on the changing needs of the company in different stages of its growth:
Starting a new business
New businesses are typically faced with a lot of business decisions at the very beginning and getting experienced advice about legal issues at this stage is a must. One area in which new business owners may need particular help in is in determining the appropriate business structure, whether it should be set up as a corporation, a partnership, a limited liability company, a sole proprietorship, or even as a joint venture (a partnership arrangement with an established company). Business owners often use their money to fund start-up operations and determining the appropriate business structure will be critical in deciding the implications of federal and state tax requirements and how to limit liability for the stakeholders. Other legal aspects included in the formation of a new business venture that corporate legal services can assist with may include developing a business plan, finding sources to finance the business, creating corporate governance, establishing the board of directors and voting agreements and establishing equity and non-equity based incentive compensation plans.
Expansion and development
At some point the business needs to grow to increase earnings and revenues. As the business grows and brings on new shareholders, or enters into co-venture agreements, or expands its market share through merging with or acquiring another business, or decides to divest or sell portions of the existing business to focus on a different product strategy, more legal complexities will arise and require resolution. Having the right law firm who can provide qualified corporate law services in various areas during this period of growth and expansion will prove to be invaluable for the organization.
Buying and selling transactions
A company’s buying and selling transactions may be overseen by corporate law services to ensure they comply with state regulations and protect the interest of the parties involved. Mergers and acquisitions, strategic investments, joint ventures and restructuring or recapitalizations, for example, are all very critical activities that can dictate the financial stability of the company for years to come. Corporate lawyers can assist their clients during these risky deals by helping to find appropriate financing for mergers and acquisitions, providing advice concerning the drafting, negotiation, and performance of contracts for the sale of portions of the business, overseeing due diligence checks concerning the company that is to be acquired which can include a thorough review of company finances, employee agreements, intellectual property, environmental liabilities, real estate leases, and pending litigation cases involving the company to help ensure that their client gets what they paid or gets paid for.
While it may be true that corporate law services in Barrie can be expensive, it’s important to consider the value of the advice and guidance your company will be receiving on the whole. Small, medium, and large business entities rely heavily on these services to help them distinguish legal boundaries, identify potential risks and to handle problems quickly and effectively and ensure that nothing interferes with the daily operations of the organization and to give corporate leaders the time they need to run the business with peace of mind knowing that their legal concerns are covered.
