We help streamline your business operations and maximize growth with a solid corporate governance framework.
What is Corporate Governance?
Corporate governance broadly refers to the mechanisms, processes and relations by which corporations are controlled and directed.
Governance structures and principles identify the distribution of rights and responsibilities among different participants in the corporation. They usually include the board of directors, managers, shareholders and other stakeholders.
Typically, board of directors are responsible for setting the company’s strategic aims, providing the leadership to put them into effect, supervising the management of the business and reporting to shareholders on their stewardship.
The shareholder`s role in governance is to appoint the directors and to make sure that an appropriate governance structure is in place.
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Maximize Your Business Growth With a Corporate Governance Framework
The purpose of corporate governance is to facilitate effective, entrepreneurial and prudent management that can deliver the long-term success of the company.
Companies using corporate governance may be able to streamline business operations and increase the potential for maximizing profits.
Setting guidelines for each individual working in the business can help companies ensure a minimum set of operating standards. It is also a useful way to discipline employees or correct inappropriate workplace situations by implementing rules and procedures outlined in the company’s governance framework.
Shareholder approval is normally required when setting up this framework because shareholders are individuals who have invested money into the business and therefore expect a significant return on their capital.
Before the board of directors creates corporate governance, it is recommended to first have shareholder`s approval to ensure these individuals understand how the company expects to generate financial profit.
Collaborate With the Experts
Apart from considering shareholders, it is also important to have expert`s input when setting up the corporate governance framework. These experts can be management consultants, public accounting firms, law firms or other professional organizations.
These groups can help companies ensure that the protocols designed for the company meets the expectations of all parties involved.
In the case for legal counsel, law firms are able to ensure that the company’s corporate governance framework meets all legal requirements regarding its business operations.
Patrola Law Corporation advises clients on a broad range of corporate legal matters. We are retained by small business to assist with their governance processes.
Our experienced Surrey BC business lawyers uses expertise and knowledge to provide insightful and practical advice to assist in complex legal issues as well as support effective corporate governance processes.
Our services include but not limited to:
- Board structure and composition
- Corporate transactions
- Conflicts of Interest
Have us solidify your corporate governance structure.
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