A corporate or business entity is basically a composition of its stakeholders- shareholders, directors, employees, and customers, who are involved in the process directly or indirectly. They all have a specific role to play in the company’s functioning. There is a Corporate governance- a body with some rules and regulations that specifies the role and act of the stakeholders. They need to tow the line and function according to the guidelines of the Corporate governance body
Why is there a need for Corporate Governance?
As we have discussed the involvement of so many people, there are chances of misconduct, cheating, and a chance of breaking of laws. So, there must be a body that states the rules that need to be followed and protect and punish the required ones. There are many good Corporate Lawyers in Bangalore, who help the companies to follow and adhere to the laws. A company needs to hire – Corporate Lawyers, to see through all the documentation and guide the company towards better implementation of Corporate Governance.
Corporate Lawyers can advise the company about the latest developments within corporate governance body and help the company to stick and be truthful to its stakeholders. Let us see the area of performance of Corporate Lawyers in Bangalore.
- Legal documentation
Even before the company is conceived, the name of the firm, the registration, and all the process must be done legally. For all this, the company needs Corporate Lawyers, who will take care of all the legal paper works.
All the documentation regarding the policies, licenses, rules, organizational structures, business collaboration, commercial agreements, are taken care of by Corporate Lawyers.
- The merger and acquisition of the company
Its common in businesses to acquire other business or merge with some. There may be various reasons, but there are many documentation and legal process to be followed. The Corporate Lawyers in Bangalore, need to negotiate, study the market and advise the company regarding the capital benefits involved in merger/acquisition/joint ventures.
- Forming employment contracts
A company must employ people to get their work done. There must be a contract between the company and the employee as per the Corporate Governance of India, which is done by the corporate lawyers.
- Protecting the company’s intellectual property
With businesses its very common to steal an idea, logo or presenting an identical product. The Best Corporate Lawyers defend the company in case of accusation and implement the required steps to confront the company in case of malpractices.
- Environment issues
The corporates must follow all the pollution and environment related regulations and needs to get their certificates to update regularly. Lots of cases can be levied by defaulting environment laws.
- International transactions
With globalization its norm for companies to target the international market or international companies to invest or collaborate in India. The Best Corporate Lawyers study the international rules for business in other countries and guide the company.
The various laws of Corporate Governance of India-
- The Companies Acts 2013- lays the role and areas for Independent directors, Board Constitutions, Board Meetings, Board processes, General Meetings, Audit committees, Related party transactions, etc.
- Securities and Exchange Board of India (SEBI)- highlights the best practices a company must stick to and protects the rights of investors.
- Accounting Standards issued by ICAI- Institute of Chartered Accountants of India. The ICAI is an independent body that issues accounting standards mandatory for all companies to follow. This also includes presenting of financial statements, which is also backed by the Companies Act 2013- Sec-129.
- Standard Listing Agreement of Stock- is applicable to the companies who have their shares listed in various stock exchanges.
- Secretarial Standards Issued by the ICSI- Institute of Company Secretaries of India is an autonomous body, that has specified standards for Meetings of Board Directors, General Meetings etc, supported by the Companies Act 2013, which all companies must follow.
R.S Legal is a firm that has some of the Best Corporate Lawyers, who can help and give good legal pieces of advice to the company for its betterment.