Enhance Paralegal Efficiency: Step-by-Step Guide to Streamline Business Filings with Corporate Research Tools

Summary

Paralegals play an important role in the legal field. They are responsible for researching and analyzing legal documents, as well as conducting corporate research. When it comes to corporate research, they need to be knowledgeable on the different types of business filings and the resources available to them. This article outlines the various corporate research tools that paralegals need to master in order to understand the different types of business filings.

The first corporate research tool that paralegals need is access to state and federal filing databases. This will provide them with valuable information on the various business filings that have been made for a particular company. They will also be able to find out specific details about that company, such as the names of its investors and its financial statements.

The second tool that paralegals will need to utilize is the use of online search engines. These search engines will allow them to quickly and easily search for companies that have conducted business filings. It is important to note that not all search engines will yield the same results, so it is important to use multiple search engines in order to ensure that all possible filings have been found.

The third corporate research tool that paralegals must be familiar with is the use of public records databases. These databases will provide paralegals with access to vital information about a particular company, such as its registered address, the names of its officers, and the details of any legal proceedings it is involved in.

The final corporate research tool that paralegals need to be aware of is the use of legal databases. These databases will allow them to access hundreds of legal documents that can provide valuable information about a company. The information contained in these documents can include notices of suits, certificates of incorporation, and annual reports.

In conclusion, paralegals must be well-versed in the various corporate research tools that are available to them in order to conduct effective research into a company's business filings. Access to state and federal filing databases, the use of search engines, public records databases, and legal databases are just some of the many research tools that paralegals must utilize in order to ensure they are armed with the most up-to-date information. By mastering these corporate research tools, paralegals can ensure they are providing the best legal advice and representation to their clients.
 

Helping Paralegals Negotiate Corporate Filings

For paralegals, corporate filings can often seem like a never-ending maze. Business records and filings can be necessary for many legal proceedings, yet the rules and regulations governing these processes can be difficult to navigate. Luckily, there are a variety of corporate research tools and software designed to help paralegals navigate the complexities of corporate filings with ease.
 

The Benefits of Corporate Research Software

In the legal profession, corporate research software can provide a number of advantages for paralegals. These programs can help paralegals to access corporate documents quickly and easily, saving them time and energy. They can also provide the most up-to-date information on corporate filings and records, helping to ensure accuracy and compliance with state and federal laws.
 

Finding the Right Corporate Research Tools

When selecting corporate research tools, paralegals should look for programs that have the features they need. Many programs offer a variety of features, such as instant access to business filings, entity searches, and other corporate records. These features can help paralegals to quickly and easily access the information they need and to ensure accuracy and compliance with state and federal laws.
 

How Corporate Research Tools Can Help Paralegals

For paralegals, corporate research tools can be invaluable in helping to ensure accuracy and compliance in legal filings. By using these programs, paralegals can access a variety of corporate records quickly and easily. This can facilitate the successful completion of various legal proceedings, such as business formation documents, mergers and acquisitions, and other corporate-related filings. In this way, corporate research tools can be an effective and valuable asset to paralegals.

Indeed, some corporate tasks may be better suited for able paralegals than busy attorneys. ''The tasks of tracking compliance information, downloading domestic filing forms, getting financial statements, keeping up with foreign subsidiaries, and even setting up foreign entities can all be done by paralegals,'' Ms. Tindle said. ''Things change daily (in the corporate sector), and attorneys can be bogged down with the day-to-day responsibilities. It's often up to the paralegal to stay on top of changes.''

Fortunately, the Internet makes things easier. ''Almost everything is available online,'' Ms. Tindle said. Start with the Securities and Exchange Commission's website; paralegals involved with corporate or financial information should be well-versed in EDGAR, the electronic database of SEC filings. ''Those who deal with SEC filings must master EDGAR,'' said Eric Pinckert, Head of Corporate Affairs at LRN, a legal research firm that provides corporate clients with a network of research experts. ''In fact, the SEC requires EDGAR to be used in its filings.'' Some of the information in the EDGAR database includes 10-K and 10-Q reports, proxies, securities initiatives, and mutual fund prospectuses. Paralegals should be able to search EDGAR by company, type of filing, or time period.

Corporate paralegals also must be familiar with the policies of their respective Secretaries of State or Departments of Corporations-particularly their websites, which usually provide corporate downloads and documents. ''When checking for updates, the Secretary of State's website is a prime tool,'' said Dem Hopkins, attorney, associate writer, and analyst at CCH Inc. ''The websites often house links to statutes and codes, as well as background information about entities and filings.'' When turning to statutory research, be sure to cross-reference information between different sections, experts say. ''Some Secretaries of States, for example, provide no information on taxes,'' said Mr. Hopkins. ''(Paralegals should) be sure to cross-reference (with their Departments of Revenue).''

Of course, even the most able corporate paralegal may get lost in the database maze. ''It's not the easiest to navigate,'' Mr. Pinckert said. Consider turning to special research software and sites. ''Paid research sites often offer complimentary training, and taking advantage of them can increase the effectiveness of a paralegal's use of these tools,'' advised Mr. Pinckert. ''Our programs make it easier to use EDGAR and lay out information so it makes sense,'' said Deb Doane, Vice President of Product Marketing at EDGAR Online, the company that markets Edgar Online Pro. ''This increases productivity when operating under strict deadlines. The program also has an alert feature, (which allows paralegals to) track a particular company or filing on EDGAR.'' CCH, Inc. also produces several software programs to help corporate legal professionals, in such areas as securities, trade law, tax compliance, and more.

Besides formal research tools, informal networking can be paramount in corporate research. ''The ABA's list serves are an easy and efficient way to connect to every state's codes, (as well as) chat with other attorneys, accountants, and professionals,'' Mr. Hopkins said. ''They often have great advice about hypotheticals from knowledgeable sources.'' Networking at relevant seminars may also prove resourceful. ''Benchmarking with colleagues is important,'' Ms. Tindle said. ''I went to several seminars when I first started corporate work and found them very useful.''

The corporate paralegal's job doesn't end when his or her research is completed; paralegals also have to know how to present their findings to attorneys, supervisors, or even clients. For example, mastering the art of the legal memorandum or verbal research presentation may be essential. In addition, corporate paralegals must be able to handle the maintenance of internal databases. ''Document management and the upkeep of databases are extremely important,'' stated Ms. Tindle. Paralegals are often in charge of updating and keeping track of corporate filings, securities documents, annual and quarterly reports, and contracts.

Legal research in itself is complex, but corporate paralegals must be familiar with specialized research tools in addition to general ones. ''It's important to remember that one has the opportunity to be the hero if he or she finds the applicable information (during legal research), but also the opportunity to be the goat (if he or she doesn't),'' Mr. Pinckert said. ''Therefore, it's essential to be meticulous and comprehensive.''