Lawyers in media kill great creative ideas and Ads. What do you personally think restrictions in advertising do they bring harm to business or help ?

Innovation and creativity in advertising is definitely the storm bringer and can drive attention of a good number of potential customers for your product. 

However, knowledge of company's own policies and more importantly, knowledge of the legal aftermath is something that cannot and should not be over seen. You also need to weigh the legal risks and their magnitude while trying creative ideas, definitely.