A legal opinion is a comprehensive written document prepared by lawyers on a specific issue(s) of law. Its content may include legal basis, legal advice and recommendations. Lawyers’ legal opinions may be required in corporate restructuring, reorganization, major investment and financing transactions, and also in other transactions in which certain important legal issues need to be addressed by counsels. In litigation, arbitration and other alternative dispute resolution methods, acquisition of legal opinions becomes a vital resource for parties to recognize, clarify or explain specific legal issues.
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