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lwpat
lwpat, Attorney
Category: Business Law
Satisfied Customers: 25386
Experience:  Attorney with over 35 years of business experience.
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Hello, I was wondering in corporate law why is it normally that a corporation would hi

Resolved Question:

Hello, I was wondering in corporate law why is it normally that a corporation would hire a lawyer to their board of directors? This particular company is an intellectual property company (comicbook character library) and has seen 5 out of 7 directors leave within the past 4 months unexplained. I am wondering if that is likely more because of a worry of bankrupcty or that a major corporate transaction is about to take place? This lawyer has specialization in criminal law, with extensive experience in strategic business development, private equity venture capital, mergers & acquisitions and the sales, marketing and merchandising of entertainment intellectual properties. Thank you for your time.
Submitted: 5 years ago.
Category: Business Law
Expert:  lwpat replied 5 years ago.
I was wondering in corporate law why is it normally that a corporation would hire a lawyer to their board of directors?

I am not sure why you are asking the question. It sounds like the attorney has extensive business experience and would be a good addition to any board of directors. It is common for attorneys to sit on such boards.
Customer: replied 5 years ago.

Can a smaller company negotiate M&A with a major business if a lawyer is not present on the board of directors? I.E. does it matter whether a smaller business hires a lawyer to their board of directors for that type of transaction to happen?

Expert:  lwpat replied 5 years ago.
does it matter whether a smaller business hires a lawyer to their board of directors for that type of transaction to happen?

No their does not have to be an attorney actually on the board but the board members would be opening themselves up to a breach of fiduciary duty charge if they do not seek the advice of an attorney prior to approving a merger or acquisition.
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