Commercial Law

Commercial lawyers, also known as company lawyers, deal with the legal aspects of enterprise and commercial transactions. They take up circumstances falling under the purview of civil law and deal with problems such as private and public laws. Corporate contracts, hiring practices and manufacture and sales of consumer goods are certain areas that involve the attention and expertise of commercial lawyers. Usually, commercial lawyers are issued a license that enables them to practice in their field of law in a certain jurisdiction.

Those who face difficulties or issues in complex transactions need to consult a commercial lawyer. Several law firms usually have qualified commercial solicitors who specialize in their location. They assist and advise established and start-up businesses on a wide range of legal issues that affect their commercial transactions.

A corporation is a popular enterprise form for two reasons – 1, it operates as a legal entity totally separate from the shareholders, and two, it usually offers tax benefits. To form a corporation, you want to file a “certificate of incorporation” or “articles of incorporation”. You need to do this filing with the Secretary of State of Texas.

A corporate lawyer can manage the filing of the corporation. This certificate or articles of incorporation must contain specific details like:

• Provisions regarding the corporate management of the organization
• Provisions protecting the corporation’s directors and officers
• Provisions limiting the individual liability of directors and officers

Cash laundering refers to the use of the monetary Institutions to hide the source of funds gained from illegal activity such as drug trafficking, bribery, extortion, embezzlement, theft or other criminal activity, as the criminals try to make their ill gotten gains appear genuine. This process entails three steps and they are placement, layering and integration. 1st, the illegitimate funds are cleverly introduced into the legitimate monetary program. Then, the money is moved around to produce confusion, at times by wiring or transferring by means of quite a few accounts. Finally, it is incorporated into the monetary system via extra transactions until the “illegal income” appears “genuine.” Funds laundering can facilitate crimes such as drug trafficking and terrorism, and can adversely impact the global economy. The United States has passed eight major laws that define how banks and the country as a entire deal with funds laundering and they are,

Bank Secrecy Act of 1970
Income Laundering Control Act of 1986
Anti-Drug Abuse Act of 1988
Annunzio-Wylie Anti-Income Laundering Act of 1992
Money Laundering Suppression Act of 1994
Intelligence Reform &amp Terrorism Prevention Act of 2004
Funds Laundering and Monetary Crimes Technique Act of 1998
USA Patriot Act