In our daily routine, we consult with family, friends, colleagues, etc. on various matters. As humans, we have a tendency of taking a second opinion from someone close. Knowingly or unknowingly, consultation has become a huge part of our lives. There are times when we can’t make the right decision or we are not thinking sound. At such times, this second opinion matters the most.
Similarly, in a business environment, we make numerous decisions each day. Making sound decisions single-handedly regarding various matters is not quite possible. Here, the role of consultants comes into the picture. There are consultants for carious matters in the business industry like, financial consultants, investment advisors, legal consultants, etc.
Legal consultants allow businesses to make the correct legal decisions. They provide consultation regarding all aspects of the business that include legalities in it. Legal issues are something that all of us like to avoid because they can get tricky and out of control. The services provided by legal consultants are highly valuable to any business organization. Even a small legal mistake can prove to be a big hassle for the business.
There are various services that legal consultants provide. Here is an industry-wise breakdown of services that they provide:
Corporate Law
Legal consultants attend general body meetings, shareholder meetings, board meetings etc. to make sure that all the decisions being made are within the law. Drafting and negotiations of contracts or agreements are also done by legal consultants. They help implementing a legal structure on the level of domestic sales and distribution channels, foreign sales and distribution channels, purchasing from domestic and foreign markets, etc. They keep all the clients’ departments informed and updated about the applicable regulations and legal information for the company to be able to operate in a sound legal way.
Labour Law and Industrial Relations
Legal consultant services include Labour Law and Industry Relations Consultancy services. At the level of the Human Resource Department, all the administrative documents are legally reviewed and improvements are made. Facilities like legal inspections of all kinds – applications, documents, trade union activities, etc. are available. Services also include any arrangement of legal situation of employees. They also provide assistance in settling possible disputes between employees and the company in compliance with the legal laws. Legal representation of any kind is offered by the legal consultants. Additional support is also given to the partners and executive managers of the company and their families in cases of accident, surveillance, labour accidents and other extraordinary cases.
Industrial and Manufacturing
The industrial and manufacturing sector is large and most of the players face a similar kind of challenge. Legal consultants help anticipate and effectively deal with any operational, project or transaction issues. With their experience of consulting various businesses, they can help you avoid some expected losses or problems. They will give you insight into the issues that you may encounter and ways of how they can be tackled. From the market intelligence and legal know-how they have gained through their work, their advice is practical, legal and commercially viable.
International Legal Services and Cross-Practice Services
Some legal consultants have foreign law offices which act in cooperation with each other. Such legal consultants or consultancies have the eligibility to provide effective and cost saving legal services. Their services will be useful for companies that have business proceedings or clients in foreign land.
Banking and Finance
With the ever changing market conditions, each person or organization needs advice regarding the best investments, approaches, new developments, etc. A team of legal consultants provides information in relation to the full spectrum of financial products like acquisition and mergers, assets management, financing for projects, etc. They provide a complete service to firms covering the entire financing needs of clients from small loans to large financing. Regular counseling regarding the latest banking laws and regulations to take clients through business turmoil is done.
                                                                                                                      -Shreevarshita Gupta
