February 25, 2022 Legals

Corporate meetings now have legal support, thanks to Councilbox

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Remote attendance is a reality in every company and its advantages have become evident in recent months.  The five main benefits of holding meetings with Legal Tech solutions are reducing costs, increasing productivity, promoting sustainability, increasing corporate transparency, and eliminating various risks

COVID-19 has changed everything, especially the way companies operate. Following the global outbreak of the pandemic, solutions for arranging virtual meetings have grown exponentially. Clearly, remote attendance is here to stay. According to Gartner, in 2019, 63% of meetings were face-to-face, a figure that dropped to 33% in 2021. This trend will continue to rise and, the advisory firm estimates, on-site meetings will fall to 25% by 2024.

With these forecasts, the range of such platforms is wider than ever. However, this dynamic has its obstacles: assemblies or corporate meetings where it is necessary to provide legal backing for everything that takes place, from the announcement to the voting process. This is a necessity that the most widespread videoconferencing solutions cannot meet.

Councilbox is a solution that not only facilitates the digitalization of any meeting or process, but also guarantees their full legal validity thanks to its unique Blockchain evidence traceability system. 

This specific product aims to facilitate legally valid corporate assemblies or meetings and has identified the five main advantages of turning these meetings, which until now had to be face-to-face, into remote or hybrid meetings.

Save up to 80% of the time spent on organizing corporate meetings

One of the most apparent advantages offered by any videoconferencing platform is the savings of travel-related expenses. However, many meetings are still held in person due to their importance or purpose. With a tool that provides legal backing, organizations can do without unnecessary travel, often with the only purpose of attending a shareholders’ meeting. 

Holding corporate meetings entails a complex operational, bureaucratic and legal burden that, on most occasions, saturates the work of the administration team. Councilbox’s solution allows the meeting to be practically and simply managed from start to finish, from the announcement to the approval of the minutes, guaranteeing that you will only need a single session. As a result, it saves up to 80% of the time usually spent in preparing these meetings, minimizing possible errors in the meeting by simplifying the processes of announcing and holding them.

More and more companies are committed to implementing environmentally friendly measures. In this case, virtual meetings make it possible to reduce transportation and the resulting CO2 emissions associated with face-to-face meetings. It also eliminates paperwork and the printing of dossiers, adding the advantage of protecting the environment and reinforcing the company’s commitment to sustainability.

It is important to add that although there is a wide range of videoconferencing solutions on the market, most of them do not offer legal backing. So much so that Councilbox is the only solution on the Spanish market that allows remote meetings with legal backing. By allowing the meeting to be organized from start to finish, all evidence is captured and stored in the blockchain, a technology that guarantees that the information has not been manipulated at any time. In the event that someone contests the meeting, the Councilbox platform is able to prove what has happened. 

Likewise, the use of solutions that promote virtual meetings with full legal guarantees offers greater transparency, since they provide signature and legal custody to all the processes and meetings of an organization. This supports the traceability of decision making and the generation of evidence of proof, both in private companies and public administrations.

After the past few months, it has become clear that digital tools have become a must for any company, but in the corporate environment these instruments require legal backing that many of those tools do not provide. Advances in this area are essential today, which is why Councilbox is at the forefront of innovation. Holding corporate meetings with legal backing is already a reality and its advantages have become evident. Corporations can now have a new way to hold their meetings backed by Blockchain technology and with all the legal guarantees.

Learn more about Councilbox’s solution and its legal support here.

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