|
Corporate Law
A corporation is a legal entity created through the laws of its state
of incorporation. Individual states have the power to promulgate laws
relating to the creation, organization and dissolution of corporations.
Many states follow the Model Business Corporation Act. State
corporation laws require articles of incorporation to document the
corporation's creation and to provide provisions regarding the
management of internal affairs. Most state corporation statutes also
operate under the assumption that each corporation will adopt bylaws to
define the rights and obligations of officers, persons and groups
within its structure. States also have registration laws requiring
corporations that incorporate in other states to request permission to
do in-state business.
There has also been a significant component of Federal corporations law
since Congress passed the Securities Act of 1933, which regulates how
corporate securities are issued and sold. Federal securities law also
governs requirements of fiduciary conduct such as requiring
corporations to make full disclosures to shareholders and investors.
Corporate attorneys supervise commercial transactions and structure
them so that corporations function within the boundaries of the law. To
be a corporate lawyer takes knowledge of contract law, accounting,
intellectual property rights, as well as local and state and federal
regulations. Security, ankruptcy and tax law all come into play as well.
Business attorneys work with other business attorneys to broker deals
wherein all parties involved benefit from the outcome. Business lawyers
are team oriented individuals who work to structure deals that benefit
their clients as well as themselves. It's work that requires excellent
communication skills as well as tenacity of work ethic. Corporate
lawyers are in the business of revising documents that contract parties
to terms of transaction as well as creating articles for corporation
and operation agreements.
Corporate lawyers help form corporations, limited liability companies
and partnerships.They draft leases employment acts and warranties as
well as advising on family matters and the dissolution of corporations.
Corporate law is a highly structured process and beneficial and
nontraditional in terms of lawyering in that there is no prosecution,
there is a basic equality of all persons involved and corporate lawyers
are usually well compensated for their efforts.
|
|
|
