The Importance of Legal Compliance in Germany
Remaining compliant can be complicated, costly and time-consuming; however, the alternative is even more damaging. Not maintaining compliance can result in legal cases which are also costly and time-consuming. Sacrificing the need to follow obligations by cutting corners may result in short-term benefits but it is a risky strategy. Not maintaining compliance can also result in reputational damage depending on where the company did not respect its duties. This can result in a loss of customers and partners for future endeavours. It can be difficult for a company to recover from reputational damage depending on the cause for its reputational damage.
From the perspective of management of a company, availing of outside legal assistance when it comes to compliance requirements is useful for a number of reasons. Firstly, managers and directors can be found personally liable for their actions in certain cases. Our page on “Managing Directors: Rights and Obligations” will provide more information on how directors can be found personally liable for actions by the company. We assist managing directors in their duties and provide the legal protection and support that they may need in a demanding work environment.
Outside legal assistance can also be of great value when it comes to planning future projects. Our lawyers can look at the medium- and long-term implications of decisions. On occasion businesses can fall into the trap of simply responding to short-term problems and not taking a look at the longer-term issues which that may bring. At Schlun & Elseven our attorneys will be there to make sure your compliance requirements do not get lost in your company’s plans.
Compliance in Employment Law
In Germany employees have strong protections in place to ensure that their employment rights are respected. We have a dedicated team of employment law attorneys who will provide the clear guidance your company may require when it comes to issues in this field. Some issues such as ensuring that anti-discrimination measures are in place and that there is zero tolerance policy in place (and acted upon) when it comes to sexual harassment is very important as cases in these fields can lead to potential reputational damage. There are a number of other areas of employment law where compliance requirements need to be followed. Here are just of the areas we can support and advise on:
This is a non-exhaustive list and thus if your company requires further assistance when it comes to compliance in the field of employment law please contact us directly.
Competition and Antitrust Law
Working with our corporate law team will ensure your company’s compliance with German competition law. Our competition law group will ensure that your company is informed about what activities are considered to be antitrust in Germany and how they are legislated for. We will keep you updated when it comes to developments in German and European law on this front to ensure that your company is not caught by any legal changes. Furthermore we will advise your company when it comes to mergers and acquisitions in Germany and ensure that the actions taken are compliant with the law.
When it comes to representing your company, our lawyers will be there to counteract any unfair practices brought forward by your competitors. We will act in your interest when it comes to cases of misleading advertising, product imitation, false labelling and copyright infringement. Our legal support applies both inside and outside of court. Our competition law team will act in your interest on all matters relating to compliance.
Corporate Criminal Law
Compliance also takes the form of ensuring that your company does not come into conflict with German criminal law. Criminal law can play a role in issues around tax offences, money laundering and white-collar crime as well as in the area of insolvency criminal law. Criminal law cases on these issues can result in reputational damaging and time-consuming court cases. Awareness of legal compliance in these fields will ensure that your business does not find itself in such as situation. We will help your company establish systems whereby employees can take action and report suspected wrong-doing so as to ensure that the business itself is aware of suspicious actions which may require further investigation. The business should be proactive in preventing corporate criminal offences from occurring and thus protect its reputation from the actions of individual employees or managers.
At Schlun & Elseven Attorneys our lawyers will not provide legal representation in court for when compliance issues reach that far but we will also help to ensure that compliance is followed throughout. Prevention of wrongdoing is more cost-effective and better governance than having to respond to the legal problems as they arise. On this front we offer a wide-range of legal services in this field. Here is a non-exhaustive list of what you can expect from our legal professionals:
- In-house legal training for staff,
- Advise on compliance systems applicable to your business,
- “Whistle-blowing” initiatives and mechanisms,
- Support in carrying our internal reviews,
- Keeping up-to-date on legal developments in a wide variety of fields,
- Counsel regarding risk management,
- Ongoing support for management within the company.
Once our legal team is working on your company’s behalf we can personalise our services for the requirements of your company.