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Sorry, how can you handle legal, accounting, etc, in a different country? Python is just python no matter where you go but obviously laws don’t work that way. H

Sorry, how can you handle legal, accounting, etc, in a different country? Python is just python no matter where you go but obviously laws don’t work that way. How does this work?

deleted 4y ago
[deleted]
periheli0n 4y ago
Possible scenario: OP has gone abroad for their current job and is now returning to the country where they grew up and is familiar with all the rules, perhaps even friends back from school who became accountants, attorneys, etc.'
paulette449 4y ago
Great question. Take legal for example. I spend a lot of my time working with lawyers in countries where we are setting up a vehicle / working with a client but where I am not domiciled and IANAL in any country! I decide with our management team what kind of legal structure we want, the terms, the carve-outs, the financials etc and I draft layperson's language based on that. Our (external) legal team will turn that into a 60-100 page document that is compliant with the laws of the territory in question. I will review that in excruciating detail, look for errors, edit and iterate many times until the document is good for our purposes. This really means going through every kind of scenario (defaults, bankruptcies, early termination for any reason, loss of key personnel etc etc) to make sure nothing will bite us in the butt down the road. Once the vehicle is launched, it is my job to make sure that the financial vehicle follows the rules laid out in the legal document on a day-to-day basis. By this stage, I know every clause in that legal document, usually better than the drafting lawyers because I'm the one that "lives" with the document. I can do all of that without being a lawyer or being knowledgable about the specific laws of the territory where the vehicle is based (which is not necessarily where I am domiciled) because other people bring that local knowledge to the table. So .. while as a firm we hire outside counsel to perform our legal work, it is far from outsourced. I am heavily involved with my business knowledge and prior experience with legal documents (learned on the job), and the lawyers have their legal knowledge, prior precedence and all-important templates. And we marry the two to craft and manage our legal agreements and vehicles. I am confident I could apply that skill in any country with similar legal foundations to the US. To be clear, I cannot think of any scenario where you would allow a non-lawyer generalist to operate without external counsel.
snowwrestler 4y ago
Compliance, contracts, and accounting are at their core pretty similar throughout the world. The details differ locally, of course. Think of it like running your Python code in different environments without the benefit of containers. This is not just an international thing, some types of businesses need to do this on a state-by-state basis within the U.S., or even for localities like city or county. For example retail chains may have to deal with signage and parking laws that differ from town to town. A person leading operations interacts with local subject matter experts to succeed in these areas. The structure of those interactions is pretty consistent: you tell them your business priorities, and they tell you the risks. You make business decisions based on those conversations, and then monitor for changes.

Sorry, how can you handle legal, accounting, etc, in a different country? Python is just python no matter where you go but obviously laws don’t work that way. How does this work?

deleted 4y ago

[deleted]

periheli0n 4y ago

Possible scenario: OP has gone abroad for their current job and is now returning to the country where they grew up and is familiar with all the rules, perhaps even friends back from school who became accountants, attorneys, etc.'

paulette449 4y ago

Great question. Take legal for example. I spend a lot of my time working with lawyers in countries where we are setting up a vehicle / working with a client but where I am not domiciled and IANAL in any country! I decide with our management team what kind of legal structure we want, the terms, the carve-outs, the financials etc and I draft layperson's language based on that. Our (external) legal team will turn that into a 60-100 page document that is compliant with the laws of the territory in question. I will review that in excruciating detail, look for errors, edit and iterate many times until the document is good for our purposes. This really means going through every kind of scenario (defaults, bankruptcies, early termination for any reason, loss of key personnel etc etc) to make sure nothing will bite us in the butt down the road. Once the vehicle is launched, it is my job to make sure that the financial vehicle follows the rules laid out in the legal document on a day-to-day basis. By this stage, I know every clause in that legal document, usually better than the drafting lawyers because I'm the one that "lives" with the document. I can do all of that without being a lawyer or being knowledgable about the specific laws of the territory where the vehicle is based (which is not necessarily where I am domiciled) because other people bring that local knowledge to the table. So .. while as a firm we hire outside counsel to perform our legal work, it is far from outsourced. I am heavily involved with my business knowledge and prior experience with legal documents (learned on the job), and the lawyers have their legal knowledge, prior precedence and all-important templates. And we marry the two to craft and manage our legal agreements and vehicles. I am confident I could apply that skill in any country with similar legal foundations to the US. To be clear, I cannot think of any scenario where you would allow a non-lawyer generalist to operate without external counsel.

snowwrestler 4y ago

Compliance, contracts, and accounting are at their core pretty similar throughout the world. The details differ locally, of course. Think of it like running your Python code in different environments without the benefit of containers. This is not just an international thing, some types of businesses need to do this on a state-by-state basis within the U.S., or even for localities like city or county. For example retail chains may have to deal with signage and parking laws that differ from town to town. A person leading operations interacts with local subject matter experts to succeed in these areas. The structure of those interactions is pretty consistent: you tell them your business priorities, and they tell you the risks. You make business decisions based on those conversations, and then monitor for changes.