Complementing the government’s role in enacting legislation that contributes to consolidating the principles of governance within companies and commercial establishments, and facilitating legislation related to medium and small enterprises, the new corporate law has been issued.

Below we review the most important features and advantages that the system gives to companies:

• A new form of company has been created under the name (Simplified Joint Stock Company).
• This new form of companies enables them to provide the requirements of entrepreneurship and contribute to the growth of venture capital.
• Organizing the provisions related to companies of all kinds: “commercial, non-profit, and professional” in a unified legislative document.
• Allowing the issuance of negotiable debt instruments or financing instruments for limited liability companies.
• Removing restrictions at all stages (incorporation, practice, and exit), on company names, and on stock trading.
• Allowing the conclusion of a charter in the family business incorporation contract, which contributes to the organization of ownership in family businesses, in terms of governance, management, work policies, employment of relatives and distribution of company profits.
• Allowing the distribution of interim or annual profits to shareholders and partners.
• Availability of new options for issuing shares of specialization for employees in order to contribute to attracting competencies.
• Developing provisions related to transformation and merger between companies, and saluting the option of dividing the company into two or more companies.
• The possibility of implementing procedures electronically by submitting applications for incorporation, attending associations, and voting on decisions through various technical means.
• Developing the provisions for liquidating companies, and facilitating their conduct, within the bankruptcy system.

In this article, we will discuss a list of reasons why entrepreneurs face the reality that they must seek the help of law firms.

• Contract drafting development:

The development of drafting contracts through legal experts will have an effective impact on the quality of business, as employees become more aware of the responsibilities entrusted to them, and it gives them a sufficient amount of full and clear knowledge that does not include the texts included in the employment contract.

• Examination of legal documents:

Law firms do not only support the development of drafting contracts, but also help in ratifying and examining other legal documents that the company must obtain during its journey, all of which is a reason to save time, effort and money.

• Obtaining legal advice:

Law firms that have a long history of providing their services are not limited to their assistance in legal advice only, although legal advice is one of the pillars of this contractual relationship with law firms, but it may prepare for permanent mutual relations or bring you solutions that were feasible in the past with similar clients who were exposed to such your problems. It is the accumulated experience that makes a law firm like Essisior the right destination for such a task.

• Positive handling of legal problems:

Dealing with many business partners, either suppliers, distributors, or even customers themselves, and things will not be ideal at times, as it is the nature of the fluctuating business, conditions change, and problems may arise in implementing the terms of the contract, and perhaps exaggerated delay in making payments for the terms of the contracts .

So do not make things go slowly, be proactive and speed up the pace of obtaining what you want, by obtaining the services of a law firm that makes it easy for you and makes it fast. This will be a good sign of your ability to push partners to abide by contracts, fulfill obligations and comply with the law.

• Avoid blocking business and success plans:

No one has a guarantee of escaping from troubles and problems. You may one day be subject to legal accountability because of an employee who previously worked with you and then became hostile to you. You may be exposed to deception or fraud and fall into a trap, and perhaps something else.

Certainly, you will be in an embarrassing situation, and you may rush to obtain legal advice, and you may take a path that costs a lot of time, effort, and money.

Don’t let yourself be held captive by that moment. Contracting with a law firm and a lawyer will provide you with enough time to prevent falling under legal entitlements that cost you a lot and may affect your successful career in money and business.

Most of the advance plans to avoid legal problems will not be feasible when emergency legal problems occur, as these issues may relate to clients and perhaps employees working for you, and perhaps about my tax, things were not predicted to be a problem.