Legal Opinion is a written document that includes a detailed legal opinion on a particular issue or aspect of the customer’s activities. A Legal Opinion is drawn up solely in the interests of the customer to reduce the risk of violation of the Law during the implementation of the transaction/launch of the project and to fully understand the upcoming stages. A Legal Opinion allows you to get an independent opinion of a Lawyer/Attorney on a non-standard issue and determine whether the planned legally significant actions are appropriate and legal in the particular jurisdiction under consideration.
Cases That May Require Preparation of Legal Opinion
- In case it is necessary to understand what permits/licenses are required to start a company
- In transactions on the transfer of intellectual property rights
- In case of international merger/acquisition transactions
- When dealing with venture capital in foreign jurisdictions
- For crowdfunding activities
- In case of financial transactions to assess legal risks
- In cross-border transactions with securities
- In case of conclusion of investment transactions
- For Due Diligence of investment transactions abroad
- When launching ICO/STO
- When launching a cryptocurrency project: crypto exchange
- In case of activity as a Forex Broker or Forex Dealer
By ordering a Legal Opinion, you are guaranteed to receive a detailed analysis and an objective opinion of a qualified Lawyer/Attorney, which you can refer to in the future.
Features of Preparation of Legal Opinion
Since the Customer of a Legal Opinion expects complete legal clarity and relies on the accuracy and reliability of the legal analysis and legal risks contained in the document, a correctly drawn up Legal Opinion is distinguished by the clarity of the wording, the certainty of the initial circumstances, the presence of unambiguously interpreted conclusions with references to the legislation of the country of the project’s implementation.
It is important to note that a Legal Opinion should not be considered as a substitute for legal support and the Parties to the transaction should not expect that by ordering the Legal Opinion, they will simultaneously receive the algorithm for implementing the Project or conducting the transaction on their own.
Main Parts of Legal Opinion
1. Background Information
This Section of the Legal Opinion usually contains information about the data provided by the Customer about the transaction/project or documents in relation to which the Legal Opinion is drawn up. This Section also contains information about the applicable Law, depending on the jurisdiction chosen by the Customer, in which the legal relationship is taking place.
2. Research (Documents reviewed and inquiries made)
This Section reflects the process and results of the study of the submitted documents and the results of the collection of the necessary information for the preparation of the Legal Opinion. As a rule, these are transaction documents, constituent documents, minutes of meetings of the company’s Governing Body. When describing documents, it is indicated whether their originals, projects or copies of these documents have been examined. In addition, the Lawyer/Attorney preparing the Legal Opinion sends a request to the Register of Companies, the Tax and Customs Department, and other Regulatory Authorities as appropriate, and records the results of the requests made. In this Section of the Legal Opinion, the analysis of the documents submitted by the Customer is carried out; the result of their study is summarised.
The third Section contains answers to questions of interest to the Customer of the Legal Opinion. This Section contains the legal conclusion/legal analysis of the transaction. The degree of categorisation of the expressed opinion depends on the number of reservations that accompany it. Reservations may vary depending on the nature of the transaction. In this part, the Lawyer/Attorney also lists potential risks and makes recommendations.
When ordering the Legal Opinion, you need to understand the purposes for which you require it:
- In order to familiarise yourself with the legal implications of the agreement
- In order to legally support your arguments
- In order to learn about possible legal risks
- In order to show the Regulator that you intend to comply with their requirements
- In order to convince the Client or Partner that your offer is legal
- In order to have a tool to protect your company in the future
A Legal Opinion allows you to clearly define your legal rights and help you avoid costly litigation in the future. A Legal Opinion is indispensable in transactions with foreign counterparties and, if issues of several jurisdictions are raised simultaneously, it requires the involvement of appropriate specialists or foreign Lawyers/Attorneys.
|Drawing up a Legal Opinion||from 2 000 EUR|
The team of experts of Company in Estonia OÜ is happy to accompany your project in the necessary legal procedures and can help with the preparation of a Legal Opinion in Estonia.
An individual approach to each client is important for us, and we take care of the needs of your business. Company in Estonia OÜ provides continuous support to entrepreneurs in accordance with the latest innovations in Estonian legislation at all stages of the company’s development.