What is corporate compliance?
One of the most common mistakes entrepreneurs make is neglecting to include corporate compliance in the planning stages of a start-up.
One of the most common mistakes entrepreneurs make is neglecting to include corporate compliance in the planning stages of a start-up.
Corporate compliance attorneys agree that sophisticated business operators view corporate compliance as an investment. In the event of a more severe matter of criminal negligence or fraud by an employee, having a plan and procedure in place (such as contained within a company policy) can reduce the risk to the corporation. Having a corporate compliance program in place evidences the firm’s leadership’s intention to apply and adhere to the precautions recommended by government agencies.
One of the most common mistakes entrepreneurs make is neglecting to include corporate compliance in the planning stages of a start-up. Reflection on corporate governance at the initial stages can help businesspersons see the broader landscape of opportunities. For example, the Small Business Administration requires corporate compliance when borrowing money from the federal government. California corporate compliance attorneys can help guide your commercial entity towards success.
Corporate compliance may include, but not limited to:
Depending on the size of your business, risk arising from the actions of employees will be relatively high. Corporate compliance with employment law, keeping abreast with industrial relations and the vicarious liability that employers (you) are each challenging. The US Department of Labor published resources for small business compliance. Detailed business planning documents, employment/independent contractor agreements and a company policy are essential. These documents can reduce risk, encourage ethical conduct and assist in making sure your business is compliant.
At Nakase Wade, our corporate compliance attorneys have many years of experience in business practicalities and can evaluate your operational processes for compliance and effectiveness. We specialize in conducting thorough risk assessments and provide recommendations in relation to the current statutory guidelines and case law.
Corporate compliance concerns ensuring that your enterprise is being operated in a lawful manner. Depending on the legal structure of a business, there are annual and even more regular formalities such as meetings and paperwork. Our team will ensure that these proscribed events occur and are documented in a way that best positions your firm and is consistent with federal and state requirements.
A professional review of your business’s operations is a great first step to mitigating loss from future liability. When ensuring compliance to pre-existing statutory requirements, our team goes one step further suggesting proactive measures to reduce your firm’s exposure to risk. Our firm is also experienced in communicating our findings to directors and other office holders in your business. At the same time, we offer confidentiality and comprehensive suggestions on remedial actions and general legal advice where required.
With offices in California, Los Angeles, San Diego County, and Orange County – Nakase Wade’s corporate compliance attorney are well-positioned to advise you on regulatory compliance and matters of corporate governance.
With a holistic view of your business, our corporate compliance team aims to save your firm money and reputation in the long run. We tailor services to your firm’s needs offering a full set of services including in-house and online training. By reflecting on the values and ethics that are important amongst your team, corporate compliance attorneys at Nakase Wade can help to create an inclusive and respectful workplace. Whether it’s compliance with state or federal statutory requirements, data privacy, or responsible human resource management, or even risks specific to your industry, Nakase Wade corporate compliance attorneys will make sure that a penny spent today is many pennies saved tomorrow.
Learn more about: Business | Corporate | Employment
See all articles: Business | Corporate | Employment