Corporate Governance

Corporate governance relates to the system of rules, practices, and processes by which a company is directed and controlled and is a critical aspect of business success. This system should be transparent not only to shareholders but also to other stakeholders, including employees, customers, suppliers and partners

Why do I need it?

Good corporate governance provides your business with:

• Stable infrastructure: it provides a strong foundation for balanced and informed decisions.
• Clear division of responsibilities: defines roles and decision-making processes for accountability and efficiency.
• Public and stakeholder trust: enhances your reputation, showing that your organisation is well-managed.
• Regulatory compliance: helps you follow relevant laws and regulations, protecting against legal sanction.

Corporate governance is no longer a term reserved for large multinational corporations. Small and Medium-sized Enterprises (SMEs) and Owner-Managed Businesses (OMBs) are increasingly recognising the significance of good governance, especially in the context of increased focus on Environmental, Social, and Governance (ESG).

For larger companies, this means establishing systems, policies and controls to ensure the board and management prioritise the interests of shareholders and stakeholders. In SMEs and OMBs, the emphasis is on regulatory compliance, improving efficiency and performance.

With extensive experience assisting diverse companies across the UK, our regulatory and corporate governance solicitors are equipped with the expertise to guide you towards success.

Implementing these structures early on makes them easier to manage. However, the increasingly regulated environment can be daunting, which is why obtaining specialist legal advice is always advisable.

How we can help:

• Developing and updating corporate governance documents, policies and procedures
• Advice on directors’ duties and responsibilities (including Companies Act compliance)
• Company secretarial support
• Advice and guidance on partnership structures
• Drafting/reviewing articles of association and shareholders’ agreements
• Facilitating (and hosting, if required) board meetings including the preparation of notices and agendas and taking of formal minutes
• Legal support for day-to-day operations

Additional expertise

Our Employment Law team draft service agreements for directors and employment contracts for staff plus appropriate policies, ensuring these documents align with the corporate governance framework.

Our Commercial Litigation team have extensive experience in representing clients in shareholder litigation cases, when there has been a breach of contractual duties, arguments within senior management conflicts or investigations by regulatory authorities.

Here at Laceys, we provide tailored advice to develop policies and procedures to help you achieve your governance objectives and ensure the long-term success of your organisation.

If you’re looking to strengthen your corporate governance framework, please get in contact with our Corporate and Commercial Team.