Should running a company hire legal counsel? Why is it necessary for a company to hire a corporate legal counsel?

The necessity for enterprises to hire corporate legal counsel is mainly reflected in the following aspects:

Prevent risks in business operations and ensure stable business operations

In the process of operation, the legal risks faced by enterprises are one of the biggest forms of risks for enterprises. Through the participation of legal counsel, possible legal risks can be effectively pointed out in advance and then evaluated, so as to confirm in advance that transaction risks and costs can be controlled within the acceptable bottom line of the enterprise, promote the rationalization of the enterprise's transaction behavior, and enable the enterprise to Can operate at a steady pace.

Reduce business operating costs and obtain maximum benefits

Hiring legal advisors can maximize the benefits for your business at a lower cost. The cost of establishing and maintaining a company's legal affairs system is far less than the value created for the enterprise.

Legal consultants assist in representing the company externally and enhancing the corporate image.

When an enterprise hires a legal advisor, it can standardize the operation and management of the enterprise. On the other hand, it can greatly enhance the image of the enterprise, because hiring a lawyer as the enterprise's permanent legal adviser is itself a kind of publicity for the enterprise's image and can show the legal status of the enterprise. Awareness and economic strength of the enterprise.

Strengthen internal management of enterprises

Lawyer consultants have been engaged in legal advisory work for enterprises for a long time and are familiar with the relevant work of enterprise operation and management. They can use legal professional knowledge as a background and combine with specific operation and management practices to greatly improve and strengthen the internal management of enterprises.

Establish a compliance system to standardize enterprise development

The work of corporate legal advisors includes the full participation of lawyers from the preparation of documents, the formulation of unit rules and regulations, the initiation of major projects, etc., which can bring the work of the company into a standardized track in all aspects.

Establish and improve legal risk management system

In business operations, you may encounter contract-related disputes, such as unclear trade terms, inability to get goods after payment, debt for goods or projects, etc., or even illegal transactions, or debtors evading debts, owing money, etc. Debts, leakage of business secrets, infringement of patents, trademarks, copyrights, internal labor disputes, etc. These possible legal risks and traps threaten the healthy development of the company at all times, so we must not be cautious.

Assist in adjusting various external and internal commercial, economic and administrative relationships of enterprises

Establishing legal relationships, avoiding and resolving legal risks, and resolving legal disputes have always been indispensable and important tasks and content throughout the establishment, growth, development, and success of an enterprise.

Legal counsel lawyers can assist in the smooth completion of business transactions

Business transactions or cooperation are often made as friends first and then as partners. Due to human needs, necessary cooperation details must involve the arrangement and trade-off of interests, which is often difficult to discuss. If a legal advisor negotiates the details, you can get the best of both worlds. It can not only take care of the feelings of both parties, but also clarify the rights and obligations of both parties with complete legal documents, ensure the safety of transactions and cooperation, and achieve the fundamental purpose of transactions and cooperation. . In addition, it can save transaction time and improve efficiency.

In business, competitors often have legal advisors to provide legal support.

Commercial competitors often have strong support from legal advisors in terms of legal services and often participate in business negotiations as deputy general managers or in other capacities to check transactions or contracts. At this time, if your own company does not have the participation of legal advisors, it will inevitably be at a disadvantage during the transaction, and there will be the risk of legal conspiracy from the other party, sowing the seeds of commercial risks and hidden dangers. If the harm occurs, you will have to find ways to make up for it. Obviously, Not a wise choice.

Excellent legal advisors can play an indispensable and key role in protecting the development of enterprises.

If a professional lawyer who is familiar with the business field serves as a legal advisor, he can comprehensively use the legal knowledge, practical skills, and economic management knowledge he has mastered and accumulated, combined with the specific circumstances of the company (business management model, financial status, market impact, industry status) etc.), thoroughly analyze and prevent legal risks, weigh the advantages and disadvantages of various legal solutions, and take the maximization of the interests of the company as the starting point to effectively identify and prevent legal risks before they arise or when they are in their infancy. Avoiding and resolving legal risks before or during the transaction can reduce the cost of legal risks and disputes and ensure the steady development of the company.

The leading lawyers of our firm have worked for Qinye United Accounting Firm and one of the top five law firms. They specialize in laws in the commercial field and provide the highest quality legal services to corporate clients based on their rich experience.

Fuda Law Firm
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