Corporate law revolves around the formation and operation of corporations as well as the commercial transaction. Therefore, corporate law encompasses statutory laws and administrative laws, including tax law, contract law, securities law, intellectual property law, bankruptcy law, zoning law, securities law, and licensing law as well as accounting principles. There are usually other laws and regulations, relating to the specific subject of the commercial transaction, involved as well.
The Role of the Corporate Lawyer
The main role of the corporate lawyer is to ensure the legality of the deal (i.e. commercial transaction.) They put deals together and make them happen, keeping it all legal; corporate lawyers provide legal advice and counsel for start-up entrepreneurs, private placements and angel/venture capital financing, licensing agreements, business agreements, tax consultations, mergers, acquisitions, and the sale of businesses.
A Corporation is a Separate Entity
When a corporation is formed, a new entity is formed; it’s separate from the corporation’s stockholders, board of directors, or chief executive officer. A corporation pays its own taxes and is liable for its own debts. A corporation can sue or be sued, conduct business, pay taxes, and enter into contracts.
Until the corporation is wound down, it has perpetual life. The disability or death of stockholders or a member of the board of directors does not directly affect corporate functioning or structure.