Why Businesses Need Corporate Lawyers

A good corporate lawyer or a  good corporate law firm is much in demand these days. Business entities solicit the services of the best corporate law firms in India when it comes to setting up a new business and gets them running. Reputation counts very high in getting clients, and the law firms strive very hard to be counted among the top corporate law firms.

Ever since the opening of the Indian economy, there has been a continuous change in the Indian business environment. Many multinational companies have come, and many more are still coming to set up their businesses in the country. Also, the Indian private sector is expanding at a huge pace. Existing corporate houses are expanding and diversifying their business as well as new start-ups are coming up every day. There has been a complete overhaul of the Indian business world. It poses great challenge to the government to ensure that the existing entities and the new ones that are being set up, adhere to the corporate laws that govern them. In order to have a conducive business environment and to ensure that businesses are done in a fair and transparent manner, many existing laws have been changed and several new laws have been enacted.

What Is Corporate Law?

Corporate Law is a set of rules and regulations that govern the formation of companies. It regulates legal entities in conducting their business. Corporate laws generally involve corporate matters such as the incorporation of companies, articles of association, directors and shareholders rights, board meetings, secretarial matters, public listing or delisting of companies, etc. Corporate laws define the rights and obligations of all people involved in the forming, owning, operating and managing a corporation. 

From a small entity to the large conglomerates, all have to comply with the rules and regulations as stipulated in the corporate laws of the land. Adhering to the laws that govern the setting up and running their business, business entities need the services of expert corporate lawyers from the inception stage till the time their business is up and running.

What Does A Corporate Lawyer Do?

A corporate lawyer advises and assists its client in company formation, foreign collaboration and joint ventures, corporate restructuring, capital market requirements, foreign investments in India, and a host of other areas

While smaller entities prefer to have their own in house lawyer or engage an individual lawyer to assist them in their endeavors, bigger entities or corporates, on the other hand,  appoint larger law firms who have a dedicated team of expert corporate lawyers who ensure that all compliance requirements are fulfilled.

Why Corporate Lawyers Are Necessary For Businesses?

1. Understanding Multiple Laws

The laws for setting up and running a business is not uniform across all industry. There are a different set of rules for different sectors.  For example, there may be a different set of guidelines for setting up and doing business in the manufacturing sector than the services sector, or for that matter, the agricultural sector. Shareholding norms, where a foreign partner or investor is involved, also differs across industries.

2. Complying With The Companies Act

All companies, whether big or small, come under the ambit of Companies Act 2013, and have to comply with the provisions laid down therein. Ministry of Company Affairs, National Company Law Tribunal, National Company Law Appellate Tribunal, play an important role in companies complying with the rules and regulations of corporate law. They all have their offices in Delhi, which has created a huge scope for Corporate law firms in Delhi.

3. Get Help In Business Planning

Corporate lawyers provide valuable help in running a business and charting a roadmap for its growth.  Their knowledge of the applicable legal regulations along with business operations gives them a holistic view of the entire organization. An efficient professional will assess the current position of the company in context with the prevailing economic conditions and give suitable advice.  Companies looking to hire corporate commercial law firms to get extensive support on all kinds of issues.

Conclusion

In light of the above-mentioned scenario, the role of corporate lawyers and Corporate Law firms have become paramount in the business world. The best corporate law firms in India stand to gain immensely in the current business environment in the country.