Tekapult TM
FEDERAL LAW DESK REFERENCE FOR CORPORATE COMPLIANCE
Federal Regulations and Agency Guidance Organized by Risk-Specific tPrimers TM
Corporate Governance & Legal Oversight Architecture
tPrimers
Contracts are formed formally and informally, verbally and in writing, socially (meeting arrangements, marriage proposals, etc.) and in business environment. There are employment, manufacturing, joint venture, insurance policies, claim releases, warranties, loans, partnership, buy/sell, license, repair, lease and other types of contracts. Contracts are formed upon acceptance of the serious offer containing the material terms including parties’ identification, definition of terms, consideration, parties’ responsibilities, quantity, delivery schedule/ destination, shipment methods, payment, etc. Contract breach occurs if one or more terms of a contract is not completed without a valid legal excuse. This tPrimer delineates 50+ contract breach defenses if one of the parties needs to exit the contract.
tPrimers
Each company needs to develop its own federal regulations compliance program to predict and prevent a corporate and transactional misconduct and minimize harsh legal penalties for not complying with U.S. federal regulations. The program involves the staff’s business-legal education of Code of Business-Legal Conduct consisting of Tekapult’s tPrimers derivative digests of federal laws and U.S. government agencies’ publications. An independent in-house council of multidiscipline attorneys as described in one of tPrimers opines on corporate critical decisions and oversees this program. The program is needed for settling or defending claims and charges, violation-caused damage and crisis control and due diligence investigations. One of the program’s benefits is that secondary sanctions’ imposition on companies’ executives, board members and subsidiaries for having acted or purported to act directly or indirectly for or on behalf of or aiding the evasion of U.S. sanctions against blocked entities, and their “derivatives”owned 50% or more by the sanctioned entities, could be avoided.
tPrimers
An Independent In-House Legal Council (“LC”) is one of legal crisis prevention and management tools to be used for dealing with voluminous common-to-all and industry-specific laws and federal regulations. The LC’s objective is to minimize the organization’s exposure to class action and other lawsuits, and criminal convictions of corporate executives. LC reports to the CEO or head of state agency, oversees, coordinates and incorporates work-products of in-house and outside counsel to influence correction of and advise against the corporate wrongful conduct, monitor legal reporting and disclosures required for publicly traded companies, assess and revise legal risk, initiate investigations of regulation compliance practices and give authoritative opinions on corporate strategic and transactional decisions.