San Francisco, CA -- (SBWIRE) -- 01/16/2015 -- You've heard of business lawyers and you probably know that they draft and review contracts, facilitate securities, abide with tax laws, protect your intellectual property, organize documents for financial reporting, facilitate mergers and handle human resources issues. In a nutshell, they legally protect all sides of your business. If you already have a business lawyer, do you need to find one who specializes in just finance?
We've established what business or corporate lawyers do, so what is the difference between that and a finance lawyer (especially since a business lawyer addresses finances)? Here's a list of what finance lawyers handle: the lending and borrowing of money, the management of financial liabilities, and raising capital through banks and other financial institutions.
Their primary goal is to help structure their clients' transactions, promote the client's best legal and commercial interests, and to negotiate and document the contractual relationship between lenders and borrowers. So, just as a child may go to a pediatrician for check-ups, if there is a more complex issue found that child may be referred to an orthopedist. You may have a business lawyer that you always refer to, but if you have an increasingly successful and large company or a crucial financial dilemma arises, you may want to visit a specialist in finances.
Business lawyers and CPAs work closely together on behalf of their client. In much the same way, a partnership is needed between a finance lawyer and the company's bank representative during the lending process. A finance lawyer proves the accuracy of the information passed from the borrower to the lender or from the underwriter of securities to potential investors to ensure that their company is a sound investment.
In a lending situation, the lenders' lawyers are responsible for producing initial documents and borrowers' lawyers try to negotiate more favorable terms for their clients. Once an agreement has been settled upon, the lawyer with then make certain that all agreed terms are reflected in the loan documents, all documents have been properly signed, and that all conditions to closing have been met. Finally, in a secured loan the lawyer will guarantee that the agreed-upon collateral (which is required in most cases) has been properly granted and that all filings, registrations, etc. create the 'perfect' security for the lender.
Other roles that finance lawyers may play are representing a client who is filing for bankruptcy or negotiating business overseas in which the movement of money may cross borders, be exchanged through different currencies, or be negotiated in various financial institutions.
Having a business lawyer available on-demand as a resource for most legal needs regarding your company is a must-have cost-effective plan, but if an issue comes up that is beyond their legal expertise when it comes to finances, then you should search for and hire a finance lawyer for any on-demand needs. These challenges, amongst thousands of others are why thousands of businesses and entrepreneurs across the world are accessing UpCounsel's legal marketplace to quickly request and compare free proposals from specialized attorneys that match their legal needs and budget, often saving them hours of time searching for a quality attorney they can trust, while reducing their legal expenses by over 60% on average when compared to traditional law firms.
As businesses continue to look for solutions to lower their expenses and grow more efficiently, reducing legal expenses that they're typically charged by overpriced traditional law firms due to their high overhead and inefficiencies is becoming a very high priority, hence why opting for affordable legal services by independent attorneys across the U.S. continues to grow in demand.
UpCounsel helps businesses and entrepreneurs to easily hire great attorneys on-demand that best match their legal needs and budget. By using UpCounsel's virtual legal marketplace to get advice and compare free proposals from specialized attorneys, businesses save hours of time searching for legal services and reduce their legal costs by 60% on average when compared to expensive law firms. To date, thousands of companies have used UpCounsel to save millions of dollars on legal services. For more information, please visit: https://www.upcounsel.com
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