Corporate Lawyers in Sandy, Utah
Many areas make up the business law area. Corporate law, also known as enterprise law, helps businesses to navigate the conduct of their daily business operations. Contract law focuses on corporate rights, conduct, and relationships between businesses. This specialized area of law will require a high level of expertise. Corporate lawyers who want to help business owners maximize their potential will need to pay attention to all the small details of their industry operations.
A corporate lawyer will advise on how to comply with corporate law, how businesses can protect their interests and assets, and how to maximize profit. Since corporations are separate from their owners or shareholders, corporations must follow certain rules to qualify for tax benefits and remain in operation. Having a trusted corporate lawyer like our experts at WW Partners, will ensure the longevity of your business.
Comparing Corporate Law To Commercial Law
Corporate law is often confused with commercial law as they both have to do with businesses. Commercial law covers the sale and distribution of goods from a business, while corporate law deals with the formation and operation of a company.
Corporate lawyers can help businesses with mergers and acquisitions, meet criteria to invest in other companies, and stay up to date on government regulations for the specific state and city where they operate.
Common Legal Issues Faced By Corporations
Corporations face all the legal issues that other businesses face, but they also have a few unique issues that will need to be addressed by a skilled legal team. Here are the legal items that are best handled by a corporate lawyer:
- Annual shareholder meetings
- Employment law issues
- Registration with the government
- Contract review and disputes
- Investor ownership
- Product liability
- Transfers or leases
- Labor law considerations
- Business restructuring
- Limited liability
Corporations are often seen to have similar rights to human individuals. They may be responsible for human rights violations and can even be convicted of corporate fraud or corporate manslaughter.
How Do I Know If I Qualify As A Corporation?
Your business will need to file an “articles of incorporation” to be considered under the corporate law regulations. A corporate lawyer can help you structure your business to meet these criteria and reap the benefits of a corporation. A corporation will also need to have shareholders, who hold a stake in the company.
Corporations offer the most protection to individuals from liability, but they also come with more extensive paperwork and record keeping. Setting up a business as a corporation could save you from intense legal proceedings in the future.
Do I Need To Hire A Lawyer To Start A Business?
While it is perfectly legal to start a business without the help of a legal team, we recommend the expertise that lawyers bring to the table. Someone who is versed in Business law or Commercial law can help navigate around the pitfalls you may see as a business owner. Even if you don’t want to structure your business as a corporation, having a trusted individual to answer questions and draft contracts is beneficial.
Formidable & Swift Advocacy for Your Legal Needs
WW Partners wants to help businesses, corporations, and individuals have the peace of mind they deserve. Legal documents and compliance can be overwhelming to handle alone, especially for a business owner who has many other important responsibilities. Our lawyers want to help make your business easier to navigate and maximize the work you put into it.
Whether you are already in the corporate world or are looking to start a corporation, the team of lawyers at WW Partners is here to help. Reach out to us to schedule a consultation and learn more about the benefits we can provide for you.
Client-Focused & Results-Driven
Common Corporate Law Questions
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What is the difference between corporate law and business law?
Corporate law specifically focuses on the formation, governance, and operations of corporations, including shareholders’ rights, mergers and acquisitions, and corporate governance. Business law, however, is a broader term that includes a wide range of legal practices related to business, such as employment law, contract law, and intellectual property.
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What are the legal responsibilities of a corporate director or officer?
Corporate directors and officers have fiduciary duties to act in the best interests of the company and its shareholders. These duties include the duty of care, which requires directors to make informed decisions, and the duty of loyalty, which obligates them to avoid conflicts of interest. Failure to uphold these responsibilities can result in legal liability.
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What legal steps are involved in forming a corporation?
Forming a corporation typically involves selecting a business name, filing Articles of Incorporation with the state, creating corporate bylaws, issuing shares to initial shareholders, and obtaining necessary licenses and permits. Additional steps may include establishing a board of directors and organizing an initial board meeting.
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How are mergers and acquisitions legally structured?
Mergers and acquisitions (M&A) can be structured as mergers, acquisitions, or consolidations, depending on the needs of the involved entities. Each structure has specific legal implications and requires careful due diligence, regulatory approval, and compliance with state and federal securities laws. The exact structure will determine the legal obligations, tax implications, and liability of each party involved.
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What are some common legal risks corporations face?
Corporations face legal risks related to compliance, liability, intellectual property, employment, and contracts. Non-compliance with regulations, such as labor laws or environmental standards, can lead to penalties. Corporations must also manage risks related to lawsuits, patent or trademark disputes, and contractual obligations. A proactive approach to risk management, compliance, and legal audits can help mitigate these risks.