Every business needs a decision-maker. Many companies only have one main decision-maker, but what happens when that decision-maker is unavailable due to absence or health-related reasons? This is where having a company power of attorney (or corporate power of attorney) could benefit your business. This article will explore the benefits of having a company power of attorney and what you should consider before appointing one. <\/p>\n\n\n\n
A company power of attorney is a legal document allowing another individual (labelled the ‘attorney’) to act on your behalf when you are unavailable. The document confirms that the primary decision-maker grants some (or all) of their powers to the attorney when unavailable. <\/p>\n\n\n\n
Some Company Power of Attorney documents specifically define ‘unavailable’ as any (or all) of the following:<\/p>\n\n\n\n
The main benefit of a company power of attorney is allowing the business to run effectively without the primary decision-maker<\/a>. For example, if you cannot work due to health reasons, the document enables the attorney to step in and make critical decisions for your company on your behalf. Alternatively, many power of attorney documents also cover planned periods of absence, such as annual or parental leave. Having a Power of Attorney document can alleviate the burden placed on the director<\/a> or main decision-maker in ensuring the business continues to run in their absence.\u00a0<\/p>\n\n\n\n\n\n Continue reading this article below the form\n <\/i>\n<\/a>\n