Corporate law encompasses many aspects of businesses and regulates how stakeholders can act within their company, which makes solid corporate legal advisory essential for any business It is important for corporations to understand the liability and ownership held by different stakeholders in your company. Corporate law is important to understand because it can affect the way that your company grows and changes. When looking at corporate law, it is important to recognize that litigation can occur. When this happens, it is important to have a trusted advisor to help you through this process.