Our lawyers have experience in assisting privately held companies in establishing effective and practical systems for managing corporate governance issues. Consistent documentation of decisions by the board of directors and shareholders is critical to the long-term stability of the organization as well as preserving corporate veil protection.
While many public company corporate governance requirements can benchmark best practices for private companies, our lawyers understand that Sarbanes-Oxley is not a “one-size-fits-all” approach to the issues facing privately held enterprises. Our lawyers provide advice on corporate policies regarding ethics and legal compliance and are sensitive to business issues, including financial reporting issues, for solutions consistent with the economic and operational realities of the private company.
Such tools help the private company and its directors and officers avoid compliance issues and mitigate the consequences of problems that may arise. Our lawyers are able to make use of their significant corporate governance experience and the extensive resources of our firm’s other practice groups to craft cost-effective governance solutions for our private company clients, including:
- Establishing realistic, cost-effective compliance, risk analysis and prevention strategies in relevant government-regulated areas such as labor and employment, antitrust, taxation, environmental, imports/exports, foreign corrupt practices, data security and privacy and document retention.
- Developing customized and effective corporate governance tools including codes of conduct and operating procedures.
- Conducting regular training programs for executives and staff regarding compliance with ethics codes and policies.
- Developing and administering systems for encouraging proper disclosure and handling of any compliance issues that arise.
- Advising on staffing and organization of the compliance function for maximum benefit under applicable federal and state laws.
- Assisting companies in minimizing risks of non-compliance under criminal sentencing guidelines applicable to corporate misconduct, as well as potential civil liability.
- Controlling potential liability of officers and directors to the organization, employees, stakeholders and third parties.
- Counseling on the organization, recruiting and operation of advisory boards for private companies, including:
- Advising on how to establish an advisory board, including advisory board agreements and other documentation tailored to fit the needs of each company.
- Serving as a clearinghouse for potential advisory board members and matching interested companies with interested potential advisory board members throughout the local community
- Providing in-house training on the efficient running of advisory board meetings.