5 Ways a Corporate Solicitor Will Help Your Business

Corporate law is a broad and demanding subject, and any business operating today needs to ensure that they ‘stay within the lines’, or face significant consequences. There’s no denying the benefits of having a long-term relationship with a knowledgeable corporate solicitor – someone who has come to understand the unique needs and requirements of your business, and who can foresee things that may still be far off on the horizon.

But what elements are corporate solicitors involved with, and how can your solicitor underpin the ways in which your business operates now and into the future?

1. Restructuring your business

How your business is structured has a significant impact on how it operates, and its tax obligations. Restructuring can happen at any time, and plenty of businesses will restructure themselves as they grow (or downsize), particularly when they feel business has stagnated and needs a fresh approach in order to boost the bottom line.

Restructuring a business may be a (relatively) common occurrence, but it’s also incredibly complicated, and isn’t something to be walked into without a second glance. A corporate solicitor who understands your business is the only person who can ensure you’re moving forward in a way that is productive in the long-term, as well as the short.

2. Mergers and Acquisitions

Like restructuring, merging with or acquiring another business are both relatively common in the business world, not least of all because, when done right, they can give businesses a real competitive edge, boost their access to resources, funding, and talent, and make available opportunities that would have been out of the question if the merger or acquisition hadn’t taken place.

The success of a merger or acquisition depends on the due diligence you vary out, and your ability to protect your own interests instead of being drawn into a situation that sounds far better than it really is.

Again, the best person to help you is a corporate solicitor. They are in the best possible position to read through any contracts and ensure you’re cognizant of the good, the bad, and the ugly.

3. Securing Funding

Whether you’re a recent start-up or an established business already, looking for investment opportunities and securing much-needed funding for the venture can feel like a minefield. There are many different types of investor, and each opportunity you come across will have its own implications (both in the long and short-term) for your business, how it’s run, and who has the final say over key decisions.

You’ll want to discuss every option carefully with your solicitor before pressing go.

4. Succession Planning

As the owner of a business, it’s your responsibility to your workforce and your loyal customers to put in place a strong succession plan – a roadmap for preparing the next generation of leaders to take over as and when you choose to exit the business.

These plans need to be thoroughgoing, clear, and backed by a clear understanding of how to prepare someone for a future at the head of the company.

5. Joint Ventures

Joint ventures are a little like mergers and acquisitions, although they are formed to accomplish one specific task, rather than permanently joining two separate business entities together.

While the joint venture you’re considering may not be for the long-haul, it’s still just as important that you know how to protect your interests and avoid running into any unforeseen difficulties or disputes