Why Corporate Governance is Important to Keeping Your Business Out of Hot Water

Positioning your business for success often involves proper internal corporate governance and operation.  Corporate officers, owners, boards of directors, and shareholders often need strategic representation and advice to ensure best practices and legal compliance.  In an increasingly complex regulatory environment, making sure that your company stays compliant with all internal rules and regulations is important.

If you’re a new start-up business, you have certain legal obligations—these include maintaining regular internal corporate records, filing annual reports with the Secretary of State, keeping your business entity protections by not comingling business and personal funds, and other obligations.  

Likewise, if you are a part of an established business with a lengthy history of success, you’ve likely developed certain business practices over the years.  But, federal and state law change regularly, and what’s worked for many years may not comply with the law today.  

Corporate governance often involves outlining fiduciary duties and risk and analyzing employee compensation and hiring practices.  But, it can also include broad areas of advice, including:  

  • Advising corporate officers and directors of their fiduciary duties and resolving potential conflicts of interest
  • Managing and drafting corporate minutes and other internal record-keeping requirements
  • Conducting due diligence and other related research in preparation for the purchase or sale of a business
  • Managing stockholder communications and notifications

At Weaver, Bennett & Bland, our corporate governance attorneys regularly provide advice and guidance to a broad range of industries, including healthcare, technology and software, professional services, manufacturing, non-profits, and construction-related businesses.  If your business has questions about effective and legal corporate governance, contact the attorneys at Weaver, Bennett & Bland today at (704) 844-1400.