You may already know what a corporate lawyer is, but just in case you do not, typically, their role is to protect a corporation, this is to say, the business as its own individual self, not the owner, or the employees. In a time where we are all looking out for one another during a health crisis, the same principles can be transferred to business, as constantly emerging and changing legislations that may catch your corporation by surprise could lead to avoidable trouble. So, in this article, we will outline how to make sure you are choosing the best option for your business, in order to ensure protection and greater peace of mind. Latin America is increasingly being seen the world over as a potential hub for economic activity in multiple sectors in the near future, which is causing the number of registered corporations in the region to increase. Argentina, one of the largest regional economies, will inevitably experience the knock-on effects of this, meaning if you have a corporation registered in the country, finding a corporate lawyer is extremely important.
What do corporate lawyers do?
The type or scale of business you have does not affect the role of the corporate lawyer, as their job is the same irrespective of the sum of money involved in transactions or the size of the company. The general idea is simply that they will help you avoid any conflicts or rule breaks, safeguarding your corporation from potential issues that could arise from a certain specific legislation being overlooked amidst the other work taking place within the business. One phrase which encompasses the previous point and often repeats itself when referring to corporate law is ‘Due Diligence’.
In addition to the above, here is a list of some common practice areas of corporate lawyers:
1. Mergers and acquisitions
2. Joint ventures
3. Corporate restructuring
4. Management buyouts
5. Equity financing
6. Commercial contracts
Now we have outlined this, you can see just how important it is to have one!
How to make sure you choose the right corporate lawyer
Firstly, research. It cannot be stressed enough the need to find out what options exist, as the more you look, the higher the chances are that you will find a firm with expertise in your business’ area of operation, which will make their work for you all the better. In a city such as Buenos Aires where there are countless law firms of varying sizes, this is truly exemplified, and could be quite overwhelming without prior research first in order to narrow down your options.
Another crucial thing to keep in mind when selecting the corporate lawyer who will represent your business is their own contacts and personal qualities that may be useful for you, thus making their role even more beneficial in proportion to the fees paid for their services. In the case of Argentina, firms with Buenos Aires offices are more likely to have an office abroad as opposed to in another province, perhaps widening their client base, providing opportunity for wider publicity of your business if you lawyer is regularly networking with other offices. While hypothetical, these are things to bear in mind during your decision-making process.
Finally, and as is often the case, look into fees and costs before committing to anything. It is of utmost importance that you understand how the fees are charged, here are a few examples:
1. Flat fee
Small cases may be quoted for as a whole so you know how much the entire process will cost from the start, often being good value when compared to paying by the hour.
2. Retainer agreement
For a monthly price, a certain number of hours of legal work by a corporate lawyer are available for whatever issues may arise.
3. Hourly rates
It is important to understand this as lawyers within firms often have different rates, and the rates can also be affected by the kind of case, making it necessary to know who will be representing you and what their individual rates are in order to ensure it is within your range of affordability.
These are just some of the main criteria to look out for when assessing your options for corporate protection in Argentina, however, if you would like further advice or to understand better why the services of a corporate lawyer are so important, get in touch today. At Creimerman, we take pride in nothing more than assisting businesses from across the globe, and being a law firm based in Argentina, our knowledge of the sector is first-hand, so why not let us share it with you.