Small to medium-sized businesses should consider having an external legal counsel on retainer. Retainers are beneficial for businesses that consistently need the advice of a lawyer, but would prefer not to pay the expenses to have lawyer paid as a salaried, regular employee. For example, if a business requires a lawyer for contract drafting, review, and other recurring legal services, the lawyer can be put on a monthly retainer fee. There are several benefits to having an attorney on retainer:
SAKLAW’s retainer package includes legal assistance on Philippine matters, including but not limited to drafting of letters, documents, agreements, review of contracts and engagements, and general legal advice which the client may refer from time to time. SAKLAW can also provide assistance in negotiating your customer contracts, including renewals.
All corporations organized under Philippine law are required to have a Corporate Secretary. Under the Revised Corporation Code of the Philippines, a Corporate Secretary is required to be a Filipino citizen and a resident of the Philippines, but could not be held by the same person acting as President.
The Attorney acts as Corporate Secretary and/or provides support to the elected Corporate Secretary in performing corporate secretarial work. She assists corporations in meeting general corporate housekeeping requirements, including maintenance of the stock-and-transfer book, stock certificates, and other warehousing documents, and the preparation and submission of reportorial requirements to the SEC; attendance and minute-taking in-board and stockholders’ meetings; preparation of minutes of the meeting of the board and stockholders; and issuance of certifications required in the ordinary course of business.
Foreign corporations that intend to obtain an SEC License to Do Business in the Philippines are required to appoint a resident agent. The resident agent will serve as the repository of summons and other legal processes involving the foreign corporation.
A resident agent may be either an individual residing in the Philippines or a domestic corporation lawfully transacting business in the Philippines.
Corporations vested with public interests are required to appoint independent director/s constituting at least twenty percent (20%) of its board of directors.
An independent director is a person who, apart from shareholdings and fees received from the corporation, is independent of management and free from any business or other relationship which could, or could reasonably be perceived to materially interfere with the exercise of independent judgment in carrying out the responsibilities as a director.
Corporations vested with public interest include the following:
Atty. Salma F. Angkaya-Kuhutan may act as an independent director for corporations vested with public interest.
SAKLAW offers a premium retainer package which includes general support for actual regulatory compliance work such as regular filings with the BIR, SSS, and HDMF, and/or tax compliance work such as regular filings with the BIR.
