Any business owner in Singapore or any place in the world looks forward to the success of his company. As his company grows, he needs a corporate lawyer to help establish good relationships with regulators, investors, employees, customers, and suppliers. Many businesses face some difficulties to navigate through Singapore’s meticulous legal landscape. It is vital for business owners to hire only an honest and reliable corporate lawyer.
Things That a Reliable Corporate Lawyer Can Do for the Business
Businesses that are still in the initial development stages should also focus on the following areas:
– Statutory Compliance
– Shareholder Agreements
As the development of the business progresses, the things that the corporate lawyers can do for the company also increase. They will be involved in the following:
– The governance of the company and make sure that the business is not involved or will not be dragged to something illegal.
– Taking care of cross-border transactions and should be well-versed with international dealings.
– Drafting the plan for possible debt recovery.
– Registering trademarks should the business owner decided to do so.
– Drafting contracts for the acquisition of another business or when the business owner agrees to a business partnership.
– Planning for franchising the business and laying down the terms and conditions as well as other important matters about the business franchise.
– Drafting contracts for selling and buying of stocks or investing in another business.
– Preparing and evaluating the drafted shareholders’ agreements.
Above all, a reliable corporate lawyer can give sound advice that can help the business owner arrive at the most suitable decision for his business.
What to Look for in a Corporate Lawyer
1. The corporate lawyer must be competent and his field of specialization fits the business owner’s industry.
An incompetent lawyer can only get the business in trouble, especially when decisive action is called for. Every business needs a reliable, proficient corporate lawyer to handle the legal matters without any mishap. His field of specialization must have something to do with the industry to which the business belongs.
The lawyer should have at least some knowledge in other areas outside his field of specialization. He should be able to adapt quickly to certain situations when needed.
When choosing a lawyer, a business owner should be direct and must not be afraid to ask for the lawyer’s portfolio or proof of his excellent service. It is only right to know that the money being paid to a lawyer is worth it. A dependable lawyer knows what to do when a certain situation in the company needs his assistance.
2. Presents a clear structure of fees.
The corporate lawyer must be able to present a clear structure of fees that the business owner needs to pay for the services he rendered. He should be able to state clearly whether he accepts other billing arrangements.
A prudent business owner should know where he can get the most out of his money. Does the lawyer charge per hour or prefers to have a flat fee? There’s also something called retainer fees where the company pays a monthly fee to the lawyer for legal advice concerning the business’ daily operation. A business owner should choose the arrangement that can bring lots of advantages to his business.
3. Must show proof that he can be reached at any time and can extend help immediately.
It is necessary for a lawyer to communicate well with his client and show his sincerity toward his work. He may show a review of his past clients or proof that his clients recommended him to someone. The business owner and the lawyer should be comfortable communicating with each other.
4. The corporate lawyer must show evidence that he is someone that the business owner can trust.
In the business world, everyone in the company should trust each other and work together as one. The success of one is the success of the entire group. Most of the time, the lawyer is the business owner’s fiduciary and trustee. The lawyer should always act in good faith all the time regardless if he is dealing with the business owner or other people who are connected to the business.
A good corporate lawyer must be knowledgeable in corporate law and has broad experience in dealing with possible legal issues that a company may face.