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Watching Your Legal Budget?

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Watching Your Legal Budget?

Small Businesses May Want To Consider Employing Outsourced General Counsel Services

It is important for any business owner, whether large or small, to have a good working relationship with an experienced legal counselor.  Your attorney should make sure your business or organization is in compliance with both state and federal laws and regulations, offer advice and guidance on key projects, and help with any other day-to-day needs associated with running a successful business.  Including an attorney who sees your business as a “business” and not a “legal question” is also important.   Your attorney should take time to get to know your business, spending time getting a better understanding of your business goals and objectives, as well as learning how you prefer to operate your business.  Having a good working relationship with an attorney who understands business and tries to improve your bottom line is critical in today’s economy.  Sounds expensive though doesn’t it?

Small and mid size companies often have smaller budgets and cannot afford to hire an in-house attorney, and instead rely on expensive outside counsel to handle the day-to-day legal needs of the business. Not only is this expensive, but also inefficient – outside counsel rarely have the intimate understanding needed to carry out the company’s vision.  Some firms or attorneys, however, will partner with your company to ensure affordable yet continuous contact with your business, the best way to truly understand your needs and protect your interests.

Often these arrangements take the form of what is often called “outsourced general counsel services”, where the attorney may work from the firm’s offices, or provide your company with an experienced general counsel who can office at your location on a part time basis. The fees are usually billed at a discounted rate commensurate with the value provided to the client.

Often times, without sufficient legal counseling, other members of your team spend time dealing with legal matters instead of their particular area of expertise. These matters can be delegated to your outsourced general counsel, whose sole purpose and expertise is to navigate these matters.

Having an attorney that knows your business and who can offer the following type of services on a fixed monthly fee provides a competitive advantage over the competition:

  • Contract Review and Negotiation
  • Employment Advice and Counseling
  • Human Resources Advice and Counseling
  • Insurance Review and Risk Analysis
  • Lease Drafting and Review
  • Non-Disclosure/Licensing Agreements
  • Entity Formation, Governance and Record Maintenance
  • State and Federal Compliance Review
  • Dispute Resolution
  • Day-to-Day Legal Advice
  • Day-to-Day Business Counseling
  • Legal Alerts and Updates

In today’s tough economy, you need a firm that understands how important it is for clients to receive practical and effective legal counseling in a manner that delivers real value.  Instead of paying high legal fees for individual services on an hourly basis, these outsourced general counsel arrangements often provide a flat monthly fee that is less expensive than the typical hourly rates offered by more traditional firms .  The fees are based on the value and quality of service clients receive, instead of just billable hours or time spent preparing the necessary documents or legal work.  The law firm should actually consult with you to determine what value the services have in your operation.

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