Legal Opinion is an important tool in law that allows the parties to a transaction to obtain a qualified professional opinion from a third party about the subject matter, features, legitimacy of the transaction and other issues relevant to its effecting.
WHY DO I NEED A LEGAL OPINION?
A legal opinion is made if any of the parties (or both) are not well versed in legal matters and not able to objectively assess all the implications of this transaction for both parties; especially when it comes to a foreign national involved or a transaction taking place in an oversea state. In this case, ordering a legal opinion is not only expedient, but crucial. An expert who is not interested in the final result of the transaction will study all available documentation, conduct a legal investigation if necessary, and “announce a verdict” about the legality, expediency and security of the transaction for both parties. You may need a legal opinion in real estate transactions, venture transactions, ICO (initial coin offering), options, intellectual property protection, due diligence, inheritance issues and in many other cases.
MAKING A LEGAL OPINION
A lawyer studies all the materials and, if necessary, requests additional information not only from the direct parties to the case, but also from the authorized authorities, state budgetary and non-budgetary organizations, databases, contractors, etc. After a thorough analysis, the specialist gives an assessment of the actions of both parties and some recommendations about the verification object itself (transaction, issue, and situation). The legal opinion is made in writing and has a strict and exact wording, transparent conclusions, and references to specific laws. No self-respecting lawyer would risk their name and write unverified information in a legal opinion. It should be borne in mind that preparing and executing a legal opinion requires a lawyer to be attentive and assiduous, to spend a lot of time, and the fee for such a document, of course, cannot be low.
LEGAL OPINION STRUCTURE
The law does not provide for a precise form for a legal conclusion.
Typically, a document looks like this:
☑ customer details
☑ receiver details
☑ performer details
☑ information about the task assigned to the performer
☑ a summary of all documents, data and issues under investigation that were reviewed and analyzed by a specialist while preparing a legal opinion
☑ essence of the legal opinion itself, facts and risks assessment, operations legality
☑ conclusion based on the investigation
☑ copies of documents (if necessary)
☑ date and the performer’s signature
It is important to note that a legal opinion is very time bound. Legal acts often change eventually, and what was relevant today may not be applicable any longer in six months.
Our company prepares legal opinions on any issues, including transactions with foreign nationals involved and transactions taking place abroad. If you need help in drawing up this important document, trust the professionals! Contact us in any convenient way:
Tel: +7 909 961-19-09
Visit us: Moscow, Zubovskiy bulvar, building 4, room 308