When it comes to business, there are a lot of moving parts. And as the owner or CEO, it can be difficult to keep track of everything—let alone make sure that everything is compliant with the law. That’s where corporate counsel comes in. Corporate counsels like Jeremy Schulman are attorneys who advise businesses on legal matters pertaining to their specific industry.
Here are some types of corporate counseling that you should know about.
- Regulatory Counseling.
Regulatory counseling is a type of corporate counseling that focuses on helping businesses navigate the complex web of laws and regulations that they must comply with. This can include things like drafting and reviewing contracts, preparing for regulatory audits, applying for licenses and permits, and more. Regulatory counselors must have a deep understanding of the relevant laws and regulations, as well as how those laws and regulations apply to their client’s businesses. Corporate counsel can help you navigate the often-complex world of compliance so that you can avoid costly penalties. They can also help you develop policies and procedures to ensure that your business remains in compliance going forward. This can include local, state, and federal laws as well as industry-specific regulations.
- Litigation Counseling.
No business is immune from the risk of litigation, but there are steps you can take to minimize that risk. One such step is to have a good relationship with a corporate counsel who can provide litigation support if needed.
Litigation counseling is another type of corporate counseling that deals with assisting businesses in lawsuits—both those that they are bringing against other parties and those that have been brought against them. In some cases, litigation counselors may even help businesses avoid going to court altogether by mediating disputes or negotiating settlements outside of court. If a business does end up going to trial, though, litigation counselors will be there to provide guidance and support throughout the process. Having an experienced lawyer on your side can make all the difference in the outcome of a lawsuit.
- Transactions Counseling.
Transactions counseling is yet another type of corporate counseling that involves advising businesses on various types of transactions, such as mergers, acquisitions, joint ventures, financing arrangements, and more. Transaction counselors must have a thorough understanding of both state and federal laws in order to ensure that all transactions are conducted legally and in compliance with applicable regulations.
- Contract Review and Negotiation
One of the most common tasks that corporate counsel performs in reviewing and negotiating contracts. This can include anything from leases and vendor agreements to employment contracts and shareholder agreements.
Contract review and negotiation is a complex process, and it’s one that you should leave to the professionals. That’s because corporate counsel is skilled at identifying risk factors and protecting your interests. They will also be able to negotiate more favorable terms on your behalf.
The final musings.
Corporate counsel plays an important role in helping businesses navigate the complex legal landscape they operate in. If you’re a business owner or CEO looking for guidance on compliance, litigation, or transaction-related matters, consider working with a corporate counsel today.
