Corporate Housekeeping in the Philippines: What Is It and Why Does It Matter?

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Introduction

Managing a business can be a handful. Aside from keeping your operations running smoothly, you have to make sure that everything is done above board. However, as you focus on growing your corporation, you might not have the time and energy to work on more menial tasks. This is where corporate housekeeping comes in.

It is very important for a corporation to perform the necessary duties that make it in line with legal matters. A way people handle these is through hiring people who work with corporate housekeeping. When you hire such people, you are assured that legal matters that you may not fully understand will be handled properly.

For corporate housekeeping, it is best to hire from established full-service law firms, such as Yap Kung Ching & Associates Law Office. We are committed to providing you with excellent services to meet your needs and expectations.

What Is the Definition of Corporate Housekeeping? 

Corporate housekeeping refers to the tasks and duties a company secretary has to take care of in order to keep the company operating in line with legal matters. A person tasked with this duty processes the corporation’s licenses, creates its contracts, and secures the finances.

What Does a Corporate Housekeeping Checklist Look Like? 

Doing corporate housekeeping means that you will be handling many related legal matters, whether you are a lawyer or not. Here is what your checklist will look like if you handle your company’s corporate housekeeping:

Corporate Compliance 

This pertains to the processing of policies and procedures both internally and externally. Corporate compliance helps the company make sure that they comply with the law to prevent any kind of lawsuits and charges. With someone always checking on this matter, you can be assured that you are doing business without violating any rules.

Corporate Secretarial Services 

To ensure the corporation’s board of directors has the information they need to properly do their jobs, they must have someone in charge of corporate secretarial services. Some companies call them the corporate secretary. This person can help execute all the decisions and resolutions the board has agreed upon.

A corporate secretary’s job includes, but is not limited to, the following: preparing the minutes of the meeting, documenting and reporting on changes, and certifying corporate acts.

Review of Contracts and Other Documents 

Contracts are necessary to create a legally-binding agreement system for the corporation and another party. By reviewing legal documents before signing or storing them, you avoid having loopholes, unfairness, inequality, or downright illegality in the set terms. This also allows everyone to understand the terms better and clarify if ever there are some things that may not have been discussed properly.

Render Legal Advice 

With so many laws and policies that cover different aspects of businesses, owners and managers may not be knowledgeable with all of them. However, having corporate housekeeping that can give you advice can greatly help. Whenever you need to make official decisions for the corporation, you can seek their help for legal advice and possible repercussions.

Notarial Services 

There are many moments when notarial services are needed to process a document. You need a notary public to sign these for you so that the record you hold is deemed the true copy, which means that it has been verified for authenticity. If you have someone who can handle these types of services for you, filing paperwork could be more efficient.

Why Are Corporate Housekeeping Jobs Vital? 

If you own a small company, it is usually easier to process legal matters because of the number of the people involved. However, it can also be quite tedious and time-consuming if you have other things to attend to. Delegating tasks in a corporation makes it easier for you, as the owner, to move forward with other plans. When you get corporate housekeeping, you can expect the following:

Governance and Maintenance of Corporation 

Corporate housekeeping jobs are vital because they help with the governance and maintenance of corporations. People with those jobs can help you separate your personal assets from the company’s so that they will not get mixed up and cause discrepancies or procedural errors.

Ensure Documents Are in Order 

When you have a corporation, you have to process, keep track of, and properly store a lot of documents. These can all be quite confusing in the long run. By having a person doing your corporation’s housekeeping, they can help prepare, submit, and organize documents according to your needs, allowing you to focus on other, more important matters.

Avoid Fees 

Noncompliance with laws and regulations may lead to sanctions and fines. These can then affect your company’s operations, finances, and even overall reputation. The damages you incur might have a negative impact on the growth and success of your company, especially if you incur huge fines. To avoid this, you should have someone in your team who is knowledgeable about all the laws you should always comply with.

Who To Call if You Need Assistance in Conducting Corporate Housekeeping 

If you are looking for a reputable law firm that provides exceptional corporate housekeeping, turn to YKC Law. Our highly committed attorneys have the skills, knowledge, and experience needed to address all your company’s needs. You can also count on us to help you with other legal matters.

Conclusion 

Corporate housekeeping allows you to conveniently and efficiently handle your company’s legal matters. To keep your work moving, you can hire a lawyer to do this job for you. The right person can give you peace of mind, so you can focus on the growth and success of your business.

Address your corporation’s legal matters in the best way possible with YKC Law. Feel free to contact us for more information.

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