In this age of corporate scandal and compliance regulations, corporate governance has become a key issue for publicly traded companies, but now even private firms and not-for-profit organizations are looking for legal advice about the topic.
Jeremy Farr, a partner with the Ottawa office of Borden Ladner Gervais (BLG) says law firms across North America are increasingly serving as advisors to non-profit groups who are interested in establishing corporate governance strategies.
"Governance is still perceived as a reaction to corporate failures, but it's really a long-standing series of systems and initiatives that's designed to build a better mousetrap," he says. "It improves corporate performance and improves as a result the value of the entity to its stakeholders, whoever they may be."
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