Business Lawyer vs. Corporate Lawyer – The Key Differences
The terms ‘business’ and ‘corporate’ are used interchangeably, they go hand in hand. Business lawyer vs. corporate lawyer both practice areas do have differences and require specialty lawyers. Read on to find out whether you need to hire a business or a corporate lawyer for your specific case.
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A business lawyer is a person who provides you legal advice in almost every aspect of your business. For example, if you have a start-up in Silicon Valley, you will hire a San Jose business lawyer who is familiar with the bureaucratic process of your specific business model.
Business lawyers are also an asset for reviewing contracts, handling lawsuits, enforcing policies, and overlooking staff manuals. They also have another set of specialties which include:
- Writing a business strategy
- Drafting partnership agreements
- Researching a name and logo for businesses that are free of copyright and trademarks
- Investigating businesses
- Filing complaints
- Handling federal entities
- Handling lawsuits
Corporate lawyers work in a corporate setting, representing a larger business. Corporate lawyers avoid litigation, help write contracts, and help with the legal work of emerging companies. Litigators also can be corporate lawyers, as they are lawyers who represent corporations. You can find a corporate lawyer in a large law firm working with seasoned professionals as an internal counsel.
A corporate lawyer incorporates businesses. In a case where a business has already been incorporated, then they provide further advice. Furthermore, if the business model is built on a small scale and works around international identities and contracts, a corporate lawyer’s responsibility is to make sure that both parties involved are compliant and that the contract is legitimate enough.
Business Lawyer Compared to Corporate Lawyer
Some of the main points that differentiate the two is that corporate lawyers are focused on coming up with the rules and the directions involved in the purchases and selling of items. They are very good with the bureaucratic procedures adopted by selling services in the international market. The impact corporate lawyers have on businesses is very important, for example, companies that are involved in legal troubles that occurred due to some breach in the corporate mandate will rely on them.
On the contrary, business lawyers are involved in areas related to employment and taxes. Both are extremely important assets to any business, regardless of its size.
What Are Some Similarities Between Business Lawyers and Corporate Lawyers?
Despite their differences, they do share similarities. Fundamentally, both deal with businesses. Business law governs business entities like LLCs, and partnerships, while corporate law deals with a more specific type of business entity.
Business and corporate lawyers deal with similar matters and issues but on different levels. Both handle behind-the-scenes legal procedures needed to be compliant with the state, and federal government, and from time to time, international laws and standards.
Business Lawyer vs. Corporate Lawyer: Differences
Business law establishes how companies conduct themselves and handle business matters and issues. Business law relates closely to employment law. Employee management, hiring and firing employees, and a safe working environment are all a part of employee and business law. Business law also includes tax law. This involves reviewing tax obligations associated with different businesses.
Additionally, business law concerns itself with customers and customer interactions. This involves terms and conditions that include products and services, guidelines for refunds and guarantees, licensing, and other sales affairs.
Corporations in the US are legal business entities separated from their owners. The focus of corporate law is how they are formed and managed. It covers many areas such as management duties, shareholder rights, and shareholder and investment agreements.
Part of corporate law is also laws and policies surrounding capital increases and liquidation, taxation, and distribution of corporate assets. Since corporations are a form of business entity, and so overlap between business law and corporate law can occur. Therefore, corporate lawyers can provide legal advice on the responsibilities and rights of businesses involved in incorporation.
The Final Thoughts
The easiest way to differentiate a business lawyer from a corporate lawyer is to see business as a fluid activity. It involves buying and selling goods. In contrast, corporate law is more concerned with the activities, operations, and validity of a corporation only.
Whether you are starting a new company or already have one, having experienced lawyers on your team will help you react quickly to legal situations. The whole purpose of hiring a business lawyer and corporate lawyer is to protect your investment, have safe business transactions, and protect yourself from lawsuits.