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Term sheets, SHAs, ESOPs and investor documentation.
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Most corporate problems are documentation problems that surfaced late: a shareholders’ agreement nobody drafted, a vendor contract with no termination clause, a filing missed for three years running. A corporate lawyer’s real value lies in preventing those.
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Bringing these to the first consultation saves a hearing later.
Every matter differs, but most follow roughly this sequence.
The lawyer establishes the commercial objective first — what the business actually wants — and only then the legal route to it.
Agreements are drafted or reviewed. For a transaction, a diligence report flags the risks that are worth negotiating on.
Documents are executed, stamped and, where required, filed with the ROC or the relevant regulator within the statutory time.
Notice, followed by arbitration or proceedings before the NCLT or a commercial court, depending on what the contract provides.
More specific matters handled under Corporate Law.
Setting up a private limited, LLP or OPC and its founding documents.
Drafting and negotiating the commercial contracts a business signs.
Buying, selling or merging a business, from term sheet to closing.
Annual ROC filings, board processes and regularising past defaults.
Oppression and mismanagement petitions before the NCLT.
Examining a target company’s legal position before you invest.
Corporate insolvency and recovery proceedings under the IBC.
Structuring a partnership between two businesses, and its exit.
Resolving a commercial dispute outside court, under the contract’s clause.
An LLP is cheaper to run and has lighter compliance, which suits a services business with stable partners. A private limited company is almost always necessary if you intend to raise external investment, issue ESOPs, or bring in shareholders who are not managing the business.
Especially then. It settles vesting, exit, deadlock and what happens if one of you leaves — questions that are easy to agree on today and impossible to agree on later.
Late fees accrue per day of delay with no upper cap for most forms, the company can be struck off, and directors of a company that defaults for three consecutive years are disqualified from all boards for five years.
It is usually faster and private, and the parties choose the arbitrator. It is not cheaper. And it only applies if your contract contains an arbitration clause — one more reason to have a lawyer read the contract before you sign it.