Role Of A Lawyer In Business Essay Example | Topics and Well Written Essays - 750 words

Role Of A Lawyer In Business - Essay Example Provision of ideas to the client- The lawyer may provide the necessary ideas and the advice to the client. However, the nature and the type of advice may differ depending upon the type of the client. In certain areas, the client may be extremely knowledgeable exhibiting complete mastery over the particular issue. In those cases, the advice may be limited to certain trivial and core operational areas. On the other hand, there are certain businesses where the lawyer assumes a much larger role when compared to the current role. As for example, in the areas where the business is dependent on the IPR (Intellectual Property Rights), the legality of the case become increasingly important. Thus, in cases like this, the lawyer basically plays the role of a business advisor. Other areas that can be included in the following gamut are the businesses that run out of multiple countries or sell products in multiple countries. Implementation of the determined business objectives- The successful operation of any business is dependent on the achievement of the stipulated business objectives. The attainment of those business objectives is a function of proper business decisions in the relevant areas. The lawyer has to get a fair idea about the long term goals, the mission, the vision and the objectives of the business. This may help in the determination of proper steps towards the outcome. The financial implication can also be better understood if the lawyer devises the proper strategy and the roadmap for the same. This will help the businesses to determine what is important, what is relevant and what could be used to achieve those objectives. The lawyer should help in demarcating the business issues from the legal issue so that the necessary steps could be taken without any problem. The lawyer could also look into the possible alternatives for running any business. Thereby, all the stop gap arrangements coul d be done to ensure that the business keeps on running. Protection of the interests of the client- The first and the foremost responsibility of all the lawyers is to protect the interest of the clients. The interests of the clients are varied and different. Therefore, the necessary areas of the contention are also different. The lawyer must always ensure that the proper directions are given to the client. Limitation of risk to the client- One of the most important activities of the lawyer is to ensure that the risk to the business is mitigated at all costs. All the measures should be taken by the lawyer to see that at any point of time, the business does not suffer any kind of loss. The lawyer and the business head must be able to develop a consensus on the business needs. This includes two steps, looking at the ability to diminish the effects of the quantitative risk and the effects of the risk on the business. Therefore, this complete procedure ensures that the clients and the ind ividuals are on the same page in terms of the proliferation of business.