Corporations have many active moving parts that keep it operating to maximize profits. Sometimes, a corporation can face certain legal setbacks that could severely disrupt business or give the company a bad image. This is why large businesses need a corporate lawyer.

Generally, what a corporate lawyer does is they work with law that relates to the corporation or organization’s rights, policies, relations, and code of conduct. They work with a number of people within the company, including directors, investors, shareholders, and stakeholders as well as other employees of all kinds to clarify liability and perform other judicial tasks on behalf of the organization. In a fix, they can come to a company’s rescue in many other ways. This is how a corporate lawyer operates within a major company:

1. They set up contact “closing”

One of the main tasks a corporate lawyer will do is they will help facilitate a contract “closing” and ensure that everyone abides by the closing date and the procedures established in the contract. The “closing” day refers to the set date where a contract concludes and payment is exchanged. A corporate lawyer will ensure that all of the documents are kept in order, including the signature pages that they are responsible for setting up.

2. They take part in company mergers

A merger is an act where two businesses combine their efforts as a larger business, usually to save manufacturing costs or because one company provides a service that another company could benefit from and the two form together. How corporate lawyers help facilitate these mergers is they discuss the terms and prosper financing conditions for the company they represent. They also help draft the conditions and break down the portions of the business to re-evaluate who controls what.

3. They help facilitate in company acquisitions

Corporate lawyers also help facilitate acquisitions. Like mergers, acquisitions concern themselves with a portional breakdown and combination of two companies. Unlike mergers, it is a case where one company completely takes over another company and gains control over its assets, stock and equity.

The role that the corporate lawyer plays in this process is that they perform tests of due diligence which involves reviewing employee agreements, the company’s finances, properties, ownership and liabilities, pending litigation and leases. A corporate lawyer ensures that all documentations are in order for these transactions and follows the process every step of the way, working with team members of both companies.

4. They help with various internal legal and business issues

Above all, corporate lawyers are responsible for day-to-day legal activities that occur within the company. Their responsibilities can range depending on what industry they are working with. A corporate lawyer working in a healthcare or insurance business would likely have more legal tasks to do than a lawyer working with a technological development company. General responsibilities include reviewing legal documents for the company and providing legal advice.