An Article by Michalis Economides, Advocate & Legal Consultant | CEO of Chambersfield Economides Kranos Law firm
Article Publication: Forbes Magazine April 2019
Our era is characterized by intense economic, political, social fluctuations, technological changes and complex legal conditions, which, combined with the companies’ activities in an internationalized and fully legislated environment, make the Legal Advisor an important key partner when conducting business.
The Legal Advisor, due to its specialized knowledge of the legal framework, is the most suitable partner, who meets the requirements to provide professional consulting services to the entrepreneurs.
Besides, it is no coincidence that several modern companies cooperate with law firms on a yearly basis to provide legal and advisory services, covering their entire activities range and their legal relationships with customers as well as their employees.
The importance of a Legal Advisor for the businesses is essential, especially in matters such as business’ strategic actions mainly aimed at reducing and minimizing the risks, increasing the activities as well as improving their management and operation.
The Legal Advisor in association with the entrepreneur can design and create the appropriate development conditions by implementing strategies intended to achieve the set goals.
For example, in many cases, our company has been called upon to advise and undertake the formation of strategic prerequisites for:
- Optimizing the company’s organizational structure
- Establishment of subsidiaries in more favorable jurisdictions
- Creating effective strategies for collecting outstanding amounts
- Creating strategies including corporate loan restructuring, for a more efficient management
- Drafting new trade agreements and exploiting business opportunities
- Forming franchise
- Evaluation of investments for further expansion of the existing portfolio as well as liquidation of businesses that harm and negatively affect the viability of the business and significantly increase operating expenses
- Generating strategies for improving asset performance and utilization
- Intellectual Property registration which is considered an intangible asset
- Drafting manuals for actions and procedures to be followed within the company in order to harmonize the business in accordance with:
* The AML (Anti-Money Laundering) guidelines to prevent and combat money laundering,
* The guidelines of the European regulation concerning the protection of personal data of European citizens in a global scale. (GDPR)
* Τhe legal framework governing the jurisdictions in which the companies operate (Legal Audit)
My personal viewpoint is that all strategies of modern businesses must be thoroughly studied and after the proper legal guidance, to be adopted. This is mainly because the corporate and legal framework cannot be easily understood because of specific conceptual terms involved.Every transaction, agreement and operation is considered to follow the legislative framework while the legal advice ensures complete harmonization.
As a lawyer and founder of the international law firm Chambersfield Economides Kranos, I therefore advise entrepreneurs to establish a systematic partnership with a well-established law firm which specializes in corporate, commercial and labor law, has the knowledge and experience in the business, financial and investment sectors and be distinguished and well-established in the domestic and international market.