What is a Commercial Power of Attorney (POA)?
Reading time: 7 minutes
Quiz time: 3 minutes
Free Download
A business power of attorney, also known as a commercial power of attorney, is a legal document that grants an individual or entity the authority to act on behalf of a business or company in certain specified matters. This document is typically used in situations where the business owner or a key decision-maker needs to delegate decision-making authority to someone else temporarily or for specific purposes.
It's important to note that the scope and duration of a business power of attorney can vary widely, and it should be carefully drafted to specify the exact powers granted, the limitations on those powers, and the duration for which the authority is valid. It should also be executed in accordance with applicable state or country laws and may require notarization or other formalities.
Business power of attorney should be used cautiously and with a clear understanding of the responsibilities and potential consequences, as it involves delegating significant decision-making authority over the business's affairs to another person or entity. Legal advice from an attorney experienced in business law is recommended when creating or executing such documents.
Explore more about Commercial Power of Attorney in the explainer.
%20(Business%20-%20Commercial)%20%7C%20Mochadocs.png?width=400&height=435&name=Explainer%20eBook%20Power%20of%20Attorney%20(POA)%20(Business%20-%20Commercial)%20%7C%20Mochadocs.png)
