For small businesses and companies that are in their early stages, the decision about whether to hire an additional full-time employee and build out an internal function is critical. There are definite costs every time you make a hire. If the person that you are bringing on board is an attorney, you may also need to hire support staff and build infrastructure. The costs can add up quickly during a period of your business’s growth when you likely have other ways to spend a limited budget.
Many companies find themselves in a Catch-22 where they need to grow the business to afford a lawyer, but they need a lawyer to help them while they grow their business. In the meantime, they are vulnerable to compliance problems and lawsuits without an experienced attorney working for them.
Building your own in-house legal department could demand a large investment. Luckily, you need not necessarily go to those lengths to ensure you have regular access to an experienced, knowledgeable business lawyer.
Have an Experienced Attorney at the Ready
Many companies need legal help, but they may not have sufficient demand to hire a full-time in-house lawyer. When they must have help, however, they want to know that an attorney is familiar with all aspects of their business. For many companies, the solution is to outsource their general counsel function. This is something that businesses are turning to on a more frequent basis these days to make their own operations more efficient while still getting the legal firepower their company requires.
There are numerous areas where your business may need legal help, including:
- Employment law
- Intellectual property
- Regulatory compliance
- Shareholder and partnership agreements
- Capital formation
- Litigation and dispute resolution
While an in-house attorney could handle some of these areas, they would also still need to work with outside law firms when some of these services are required. You may not have enough legal work for a full-time attorney or you may want a generalist who could assist you in each of those areas. Not every attorney who wants to work as general counsel at a company like yours has sufficient experience in all of these areas or all of the areas in which you will need assistance.
Spot Legal Issues and Plan in Advance
There are two types of legal issues: those for which you can plan in advance and those that seemingly arise spontaneously. Outsourced general counsel can work with you on both types. They help with long-range planning, anticipating your future needs, and developing legal strategy. They can also jump in and help put out proverbial fires as they arise.
For some companies, spotting legal issues is a major challenge. They may not know what they do not know. At the same time, anything legal can be intimidating when people feel like they are out of their depths. They can find themselves very quickly lost in the weeds without formulating any solutions to pressing problems. Some legal issues are best dealt with by getting out in front of them, and lost time can put your company behind and make it vulnerable.
The Benefits of Outsourced General Counsel
Some of the many benefits a business can get from outsourcing its general counsel function include:
- Saving money on staffing costs by only using the legal services you need.
- Building a relationship with one attorney who knows the ins and outs of your business.
- Being provided with predictable costs.
- Keeping your employees free to work on producing revenue and doing what they do best.
- Building your business’ legal function by having a go-to person ready to answer questions.
An outsourced general counsel can be your business partner to whom you can turn for all of your legal matters. They can direct your legal operations and help you deal with issues as they arise. Outsourcing your general counsel needs can either be a permanent solution for your company or a temporary one until you grow further. The arrangement can be tailored to suit the amount of legal services you and your company require.
The nature of the arrangement is that it is flexible and designed to meet your business needs. Your outsourced general counsel would not be an employee of your company, and you would not need to pay employee benefits for them. At the same time, they owe you the same legal duty as any lawyer working for you.
How We Can Help Your Company
At the David Toy Law Firm, we can do the following for your business:
- Develop extensive knowledge of your business that allows us to provide customized legal advice that fits your situation
- Operate at a senior level in the company, dealing with all stakeholders to address legal issues
- Deliver legal work of a technical nature in a timely fashion
- Manage external legal providers if an extraordinary legal issue arises
- Manage your legal risks and help you identify issues that could present legal challenges in the present and future
We recognize that no two businesses are the same, nor will they have the same legal needs. While we are experienced in working with numerous companies as their general counsel, we will take the time to get to know you and your needs so we can deliver the right legal services when you need them. We pride ourselves on our partnerships with our clients and in helping them reach their goals.
Contact Us for Outsourced General Counsel Services
Reach out to us today to learn how we can team up with your business. We can explain the benefits of outsourced general counsel and how we can work with you. Growing companies cannot be without an experienced attorney at the ready. Call us today at (713) 322-7191 or contact us online so we can discuss your particular business needs.