Scribd Logo
Upload

Welcome to Scribd!

  • 131 views

    Corporate Practice and Legal Counseling

    Uploaded by

    vertine beler
    Corporate practice involves providing legal counsel to corporations. While some see it as merely a money-making business, it is actually a profession with significant public interest implications. As the economy and laws change regularly, corporate lawyers provide crucial guidance to help businesses adapt. Though corporations cannot directly engage in law practice, lawyers working with corporate clients provide an important counseling role rather than acting as stakeholders. Thus, corporate practice should be considered a legal profession rather than merely a business.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Corporate Practice and Legal Counseling

    Uploaded by

    vertine beler
    131 views3 pages
    Corporate practice involves providing legal counsel to corporations. While some see it as merely a money-making business, it is actually a profession with significant public interest implications. As the economy and laws change regularly, corporate lawyers provide crucial guidance to help businesses adapt. Though corporations cannot directly engage in law practice, lawyers working with corporate clients provide an important counseling role rather than acting as stakeholders. Thus, corporate practice should be considered a legal profession rather than merely a business.

    Original Description:

    term paper

    Original Title

    CORPORATE PRACTICE AND LEGAL COUNSELING

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Corporate practice involves providing legal counsel to corporations. While some see it as merely a money-making business, it is actually a profession with significant public interest implications. As the economy and laws change regularly, corporate lawyers provide crucial guidance to help businesses adapt. Though corporations cannot directly engage in law practice, lawyers working with corporate clients provide an important counseling role rather than acting as stakeholders. Thus, corporate practice should be considered a legal profession rather than merely a business.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    131 views3 pages

    Corporate Practice and Legal Counseling

    Uploaded by

    vertine beler
    Corporate practice involves providing legal counsel to corporations. While some see it as merely a money-making business, it is actually a profession with significant public interest implications. As the economy and laws change regularly, corporate lawyers provide crucial guidance to help businesses adapt. Though corporations cannot directly engage in law practice, lawyers working with corporate clients provide an important counseling role rather than acting as stakeholders. Thus, corporate practice should be considered a legal profession rather than merely a business.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    You are on page 1of 3

    CORPORATE PRACTICE AND LEGAL COUNSELING.

    ABSTRACT

    In these modern times, being a lawyer is a profession which, coming from


    different walks of life, had one perception towards the lawyers in a legal profession. They are
    honorable, respectable, and truly prestigious. However, there is a another class of lawyers, which
    people really have a different sense of respect and admiration. In our litigation-prone country, a
    corporate lawyer is assiduously referred to as the "abogado de campanilla." He is the "big-time"
    lawyer, earning big money and with a clientele composed of the tycoons and magnates of
    business and industry. So what is it that people do perceive, Corporate Practice of law is a field
    of law, which one can earn big money, and be called a big shot lawyer. Is Lawyering or Practice
    of law, can be considered a business, or a profession. In this term paper, the researcher with try
    to put a clear line of the dichotomy and to establish why is Corporate practice not a business, but
    a profession, in lieu of it that the solicitations and business prerogatives made is a matter of a
    relationship of the lawyer, as the lawyer, and the corporation as the client, and within the realm
    of legal counseling.

    DISCUSSION

    It is important first to define, what is legal counseling? According to Blacks'


    Law Dictionary, counsel means advice and assistance given by one person to another in regard to
    a legal matter, proposed line of conduct, claim or contention. As a matter of fact lawyers are also
    legal counsels. Counsellor is an attorney; lawyer; member of the legal profession who gives legal
    advice and handles the legal affairs of client, including if necessary appearing on his or her
    behalf in civil, criminal or administrative action and proceedings. 1 If a person sought the advice
    of a lawyer regarding any legal matters, it shall be considered and fall part on the meaning of
    legal counseling. However Legal Counseling is an activity which is covered within the coverage
    of Practice of law. In the case of Cayetano vs Monsod, The high Court strictly defined what
    Practice of law is, It is defined as, “Practice of law means any activity, in or out of court, which
    requires the application of law, legal procedure, knowledge, training and experience. ‘To engage
    in the practice of law is to perform those acts which are characteristics of the profession.
    Generally, to practice law is to give notice or render any kind of service, which device or service
    requires the use in any degree of legal knowledge or skill” 2 Basically all facets of human
    activities and within the commerce of men is subject to legal counseling and basically within the
    stretch of the long arms of the practice of law.

    It is important to take note that any social, economical and political


    phenomenon are within the reach of law. It is governed by law, and lawyers are the primary
    1
    Black’s Law Dictionary 2nd Ed.
    2
    Cayetano Vs Monsod, G.R. No. 100113, September 3, 1991
    frontliners when it comes to addressing adversities, issues, deprivation of right and conflict in
    law. For some, Law is a dignified and an honorary profession, but for some, it is merely a money
    making mechanism at the expense of other people’s lives. For some lawyers, what matters is the
    big fat paycheck that will come to their accounts without utmost disregard for the interest of
    justice and social equity. Hence for some Lawyering is a big business and not merely as a
    profession. While in theory corporations are forbidden to engage in the practice of the law, no
    fair-minded observer can deny that they do so, and that this tendency is increasing, and that the
    layman (as distinguished from the lawyer) apparently approves of it.3 There are even an instance
    where a corporation attempted to engage in the Practice of law. As Cited in the several issues of
    the Business Star, a business daily, herein below quoted are emerging trends in corporate law
    practice, a departure from the traditional concept of practice of law. As coined as it is a
    revolutionary transformation in in corporate law practice. 4 One cannot avoid the inevitable
    question, that at times lawyers are hired to run the business itself, which is the reality that a
    lawyer does in the realms of the finance. The question is, is it the lawyer who is actually
    practicing law, or is it now the corporation who is now practicing law, being a juridical entity
    having a separate identity to its stockholders, officers, and directors. The lawyer’s role is limited
    from being the counsel, and now slowly transforming into a stakeholder. So the million dollar
    question is, Is Corporate practice, A business or is it a legal profession,?

    The practice of law is not a business open to all, but a personal right, limited to a few
    persons of good moral character, with special qualifications ascertained and certified after a long
    course of study, both general and professional, and a thorough examination. The right to practice
    law is in the nature of a franchise from the state conferred only for merit. It is attested by a
    certificate of the Supreme Court and is protected by registration. It is not a lawful business
    except for members of the bar who have complied with all the conditions required by statute and
    the rules of the courts. As these conditions cannot be performed by a corporation, it follows that
    the practice of law is not a lawful business for a corporation to engage in. As it cannot practice
    law directly, it cannot indirectly by employing competent lawyers to practice for it, as that would
    be an evasion which the law.5

    Corporations and Finance sectors, plays a vital role in the economy of the country, if
    Legal Counseling to Corporations is deemed and declared to be not a practice of law, and merely
    a business, the interest of the public will be gravely affected, if corporations are operated without
    the guidance of experts in commercial law, corporation law, and finance, not only businesses
    will have a greater risk and tendency to fail, hence detrimental to the economy of the state.
    Considering Corporate Practice, as a within the scope of legal counseling as well, hence
    Corporate practice is not merely a money making business, but is engulfed with public interest to
    say the least. As new laws get passed regularly, trying to shape up the economical features of
    world of commerce and finance, it is the lawyers who anticipates and makes the necessary
    counselling so that firm can adjust to impacts of legislations and regulations of the state towards
    3
    https://ir.lawnet.fordham.edu/cgi/viewcontent.cgi?
    referer=https://www.google.com/&httpsredir=1&article=1084&context=flr, last accessed on, October 4, 2020,
    12:03 am
    4
    Cayetano Vs Monsod, G.R. No. 100113, September 3, 1991
    5
    https://ir.lawnet.fordham.edu/cgi/viewcontent.cgi?
    referer=https://www.google.com/&httpsredir=1&article=1084&context=flr, last accessed on, October 4, 2020,
    12:03 am
    businesses. 6 Even though, in the case of Ulep vs Legal Clinic Inc., The Court reiterated the large
    scope the field of practice of law, and also reiterated that Corporations cannot engage in the
    practice of law in the Philippines. 7 The field of Corporate law is no longer, merely a property
    right, but it is vested with Public interest. The Corporation, being a juridical entity, is the client,
    and him as the lawyer in a legal Counselling mechanism, where generous monetary
    consideration is merely incidental in the corporate practice. What is material, is the effects of
    corporate practice to the economy, if the lawyer will not respond his oath to his client.

    Conclusion.

    The field of law encompasses almost all facets of human activity, it is only evi

    6
    Last accessed, https://business.inquirer.net/275664/philippine-firms-brace-for-impact-of-new-laws, October 4,
    2020, 12:32 am
    7
    Ulep vs Legal Clinic Inc, Bar Matter No. 553 June 17, 1993

    You might also like

    pFad - Phonifier reborn

    Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

    Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


    Alternative Proxies:

    Alternative Proxy

    pFad Proxy

    pFad v3 Proxy

    pFad v4 Proxy