This article is the sixth of a seven part blog series by McGrath and Spielberger on Legal Opinion Letters. Here are links to the other posts in this series: Part 1, Part 2, Part 3, Part 4, Part 5.. Part 7.
Knowing when to request a legal opinion letter is just as important as understanding what it does. The following are some situations in which it makes sense to retain an attorney to prepare a legal opinion letter for your business, whether that letter is going to remain internal to your LLC or corporation or will also be presented to third parties.
- Any important situation or issue your company is legally uncertain about.
- Entering into a significant contract.
- Determination of whether a certain action would breach a contract.
- Launching operations in a new jurisdiction.
- Facing legal compliance challenges or questions.
- Questions about whether an action would be compliant with internal governing rules (such as by-laws, an operating agreement, a shareholders’ agreement, etc.).
- Wanting to ensure clean and clear title for real estate.
- Determination if a certain action would be illegal.
- Enforceability of a contract or a security instrument.
- Evaluation of liability exposure.
- Analysis of legal outcomes for other businesses which have engaged in similar activities or been involved in similar legal situations.
- A business partner or potential partner requires it.
There are many more situations which could lead to a legal opinion letter.
Please contact the law firm of McGrath and Spielberger if you’re interested in a legal opinion letter.