Outside General Counsel
Every business faces legal, compliance, and regulatory issues as they start up, grow, and succeed. Issues from entity formation to intellectual property protection and everything in between. You may not have the resources or expertise to handle these issues internally.
What is Outside General Counsel?
The general counsel, or GC, is a company’s in-house lawyer who deals with all legal matters that arise from the company’s operations. The GC can be a great asset to a business because they have the expertise to deal with any legal matter that may arise. A GC is one of the most important people in a business. They are responsible for the legal and compliance aspects of a company. But what if you don’t have the resources to hire your GC? There are many reasons why you may need an outside GC for your business.
Instead of your lawyer working “in-house” in your business, we provide these general counsel services from “outside” your company. An outside GC is not only a legal advisor but also a business partner. They can provide insight into the best practices for your industry and counsel you in areas like compliance and regulatory issues.
What does Outside General Counsel do for my business?
An outside general counsel is a lawyer who advises you on matters of law and business. An outside general counsel can help you with your legal needs such as entity formation, contracts, intellectual property, and employment issues, as well as business strategy and growth.
The legal needs of a business change as it grows. A startup will have different needs than a company that has been around for 20 years. That’s why you need outside general counsel to help your business navigate the changing legal landscape.
How does an Outside General Counsel serve my business?
As outside general counsel, we may serve a variety of roles depending on the nature of your company. Our primary roles in your company will include the of:
- Legal advisor: The outside general counsel is the legal advisor to the company and its employees. This responsibility includes spotting potential legal issues, researching legal issues, and providing guidance to executives and employees who must comply with the law.
- Representative: The outside general counsel serves as the primary point of contact for all legal issues facing the company. This generally means working closely with owners and key decision-makers on matters such as litigation and major business transactions. In this role, the outside general counsel is somewhat of a legal project manager.
- Service Provider: The outside general counsel provides numerous legal services to the company. This might include contract drafting and review, corporate governance procedures, and employment law disclosures.
An outside general counsel can help your company with entity formation, contracts and agreements, regulatory compliance, and more. They can be a valuable resource to the company, both in times of crisis and in day-to-day operations.
What are the key benefits of hiring an Outside General Counsel?
Hiring an outside GC is a wise move for many businesses. They can provide the expertise and knowledge that your in-house counsel may not have. An outside general counsel will also be able to bring in new perspectives on issues that you may not have considered before.
The benefits of hiring an outside general counsel include:
- Dealing with legal, compliance, and regulatory issues as they arise
- Providing fresh perspectives on legal issues
- Accessing a network of experts in various fields
- The expertise they bring to the table in areas that are not your expertise
- They can help you avoid costly mistakes
- They provide you with peace of mind
- They can help you navigate company culture and avoid legal pitfalls
- They can give you access to their network of industry experts
Outside GC is part of your business team.
Every business must have a legal team that can help them with the legal, compliance, and regulatory issues. One of the most important decisions you will make as a business owner is who will be your outside general counsel.
Legal matters are crucial for any business. Legal compliance is always a concern for any company, especially in the time of social media and the public eye. It is not just about legal compliance but about the reputation of your company and how it will be viewed by others.
A good general counsel
will be able to advise you on the best way to structure your company and make sure that it is compliant with all the necessary regulations. They will also be able to provide advice on how to deal with any legal or compliance issues that may arise as your company grows.
A business should hire an outside GC for their business because it will provide them with more flexibility and more cost-effective solutions. An outside GC will also be able to provide a different perspective and approach to solving problems than what is available internally.
As a successful business owner, you need good partners and resources to run your company. You also need good information. A confidential consultation call is the first step to better understanding your risk profile and the benefits of a full risk assessment. As an expert in risk management, I will help you succeed in business by helping you to understand, mitigate, and prevent issues related to risk management.