I do think that this idea is optional. For big companies, they do hire them. But then, they can still avail themselves of a lawyer's service by not hiring one. They can just ask for assistance from a law firm. It can be done at any time if they want. It needs a lawyer's service to legalize business transactions with others or to make contract agreements legit.
Does a company need to hire a lawyer for business transactions?
- Thread starter Shavkat
- Start date
That depends on the type of business transactions. If it is a transaction which involves a lot of money, the company should employ the service of a lawyer to provide legal advice and prepare the necessary legal documents for relevant parties to sign.
It really depends on how big the company is because there are some companies that already have their legal department already working for the company in case there is any need for them to go into any legal cases.
- Thread starter
- #4
I knew the fact that big companies usually have legal personnel. It will be very convenient not to hire these people externally. In my view, it is best to have a lawyer outside the company to prevent from having personal interest.
Post automatically merged:
The best thing is to have lawyers within the company. In this way, we can able to secure all the essential documents. We cannot be sure if their will be leakages of these information if hiring lawyers outside the company.
Last edited:
I would actually say that the lawyer who is already working for that the company is doing the job to protect the interest of the company, so I don't think he will be having any kind of mixed loyalty.
It might not really mean keeping a lawyer as part of your everyday staff. You can have a legal adviser that you contract to pay periodically who would be offering legal advice and services to the organization.
A company needs the services of a legal expert especially in contracts and legal proceedings. The lawyer can better advise the company on legal standings of a particular venture.
Large corporations require legal assistance to deal with legal issues, so they have in-house attorneys. Small and medium-sized businesses, on the other hand, can hire lawyers on an as-needed basis.
I think that any structured company must have a legal advisor that would look into business terms and contracts to see if it favours you or not. Any transaction that is in the form of contracts needs a lawyer.
I was working for a multi-national where they had a Legal Department to handle various aspects of the business
