A legal opinion is a tool or document that allows parties to a transaction obtain a qualified third-party opinion on the subject, object, and other issues related to the conclusion of the project. It is a document drawn up by a competent lawyer on any specific question or problem.
As such, before entering into any high-risk transaction or commercial transaction, the parties to such a transaction must carefully consider the nature and volume of the transaction, as well as legal issues related to it.
So, whether your goal is to avoid expensive litigation or properly navigate an existing lawsuit, you and your company need to make the right legal choices before embarking on any high-risk project by getting a duly signed and stamped opinion letter from a reputable law firm like ours.
Why you Need a Signed Opinion Letter from a Reputable Law Firm
A legal opinion letter is necessary to make sure that the activity carried out by the client (or potential client) is legal and does not contradict the legislation of the country of incorporation of the company, project or registration of the client company (depending on the what it is needed for). A legal opinion is also necessary to reduce risks in case of potential verification by a regulator or correspondent bank.
As such, you need a reputable and experienced law firm to handle this important document so that you can be at peace with the business you want to venture into because the legal opinion must necessarily be prepared by a specialist with experience in the field and should not be provided by the law of such a foreign state with which the lawyer is not familiar.
Qualitative legal opinion for high-risk projects is distinguished by strict language, clarity of the circumstances provided, validity under current legislation, as well as the presence of clear and understandable conclusions, and all this be put into consideration while preparing the document. It is important to remember that while drawing up a legal opinion on high-risk projects, lawyers are responsible for their opinions as they conduct legal and factual research, analysis, and verification while explaining all to their clients.
High-Risk Projects and Activities that Requires an Opinion Letter
A duly signed legal opinion document is usually required if you need to engage in any of the activities mentioned below:
- Need to enter exchanges
- open a bank account
- for regulation purposes
- for legal coverage
- to identify if your Token is a Utility, Hybrid or Security
- for a Forex Platform
- for e-Banking Activities
- For providing white-labelled activities and several others.
Finally, it is important to ensure that you obtain this important document as it will help you understand the legal implication of what you’re venturing into and also give you legal backing that will confirm that you carried out the activity without violating the laws of a particular country or business.