Many people assume all corporate lawyers are highly specialized corporate gurus equipped with in-depth knowledge on how to run a business without getting into any deep legal trouble. However, most of the corporate lawyers are just corporate generalists who provide minimum legal advice to businesses. They also inform them of their bare minimum needs so they can stay afloat while evaluating and discussing the details of their flaws and how the government will be able to use these flaws against them.
More often than not, when the client asks a more serious question about how to resolve an issue, the corporate lawyer will just act as a coordinator between the client and another third party legal professional. They will send the client’s message over to a tax lawyer or a real estate lawyer for specific details while charging the client, again and again, to prove that they are “corporate” enough.
More often than not, small corporate owners view corporate lawyers as savage barbarians equipped with legal knowledge, which will be going after them for all they got. They think the corporate lawyers will just find ways to trick them into debt and take away their remaining assets by using legal leverage and their flaws against them. In reality, a decent corporate lawyer will only be there to help his/her clients to open and close their businesses when necessary. There are strict regulations with what corporate lawyers can do, and the majority of the states require the corporation to act as its legal figurehead.
A company’s financial figurehead, the CFOs often feel jealous over corporate lawyers because they know they have no choice but to subsume to this legally arbitrary superman. At the same time, corporate lawyers do often look down on CFOs because they feel more superior with their law degrees and have more legal leverage against the CFOs. A series of negative legal exploitations the corporate lawyers can perform on the CFOs can have their careers ruined for life. Some CEOs secretly encourage corporate lawyers to fight against the CFOs to make sure the CEO’s utmost superior status is kept in check. The corporate lawyer will obey the CEO regardless of how negative the CFO might react against both of them because the lawyer knows the CFO is a nobody who can only do nothing but math.
Another misconception is that people will just assume the corporate lawyers will pretend to help the corporation they work for with buying up other companies or selling out their already-broke assets while trying to take away as possible for themselves. In reality, the corporate lawyer is only there to review the corporation’s assets and liabilities. The owner will not allow the corporate lawyer to do anything beyond the point of telling him/her when, where, and how necessary it is for the corporation to get into litigation with another corporation. In other words, to the owner, the corporate lawyer is nothing but a draft writer and answer machine.
Last and most importantly, people who have been involved in a venture consultation some point in their life with a lawyer from one of the best corporate law firms know that corporate lawyer is there to trick them. They trick them into signing a piece of pre-loopholed contract so the corporate lawyer will somehow steal their blood-and-tear venture idea and startup capital after they sign. In fact, the corporate lawyer is only allowed to advise them on the ways they can in terms of maintaining the venture’s legal expenditure to the bare minimum. They also help them to form their very own business structure using a series of corporate structural knowledge he/she learned during law school. There is no need for future corporate owners and ventures to keep an eye on their corporate lawyer for this reason.
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