Can Your Business Afford Not to Have Outsourced General Counsel?

Large corporations often have several attorneys who work full-time and provide advice and various legal services to the company on a daily basis. They offer guidance on the everyday operations of the business, advise on contractual matters, and provide immediate representation when legal concerns arise.

If you are an owner of or a leader in a small or medium-sized business, there is a good chance that your company cannot afford to hire a full-time in-house lawyer as a part of your team. That means your only option is to hire an attorney every time a problem pops up or you need legal advice, right? While this presumption might seem reasonable, it is not accurate. Outsourced general counsel is another avenue for getting the legal guidance and help your company needs, and when you look at the overall situation, it might be the best option for your business.

What Does an Outsourced General Counsel Do?

The average person hires a lawyer when the need for one arises. They might use the same law firm or attorney regularly, but there is not necessarily a standing agreement or an ongoing retainer between the lawyer and the client’s affairs.

By comparison, businesses tend to face more complex concerns than private individuals—and much more often. Such concerns include setting up business plans, making large financial decisions, employment-related issues, doing business across state lines, and protecting intellectual property, just to name a few. If you or someone else at your company had to explain your business’s inner workings to an attorney every time something new came up, you would end up spending countless hours and immeasurable effort that could have been better used elsewhere in your business.

This is what sets an outsourced general counsel apart from other hired lawyers. An attorney who serves as your company’s outsourced general counsel, or OGC, is a legal professional with whom you establish an ongoing, consistent relationship. Very quickly, your OGC will get to know you as both a person and a business professional, including your values and objectives for your business. Your OGC will also develop a comprehensive understanding of the business itself, which will allow the attorney to provide customized guidance and solutions as they are needed. Your relationship with your OGC can help you identify and address concerns proactively, instead of allowing them to grow into much bigger problems down the road.

An OGC Becomes Part of Your Team

When you work with an OGC, he or she will quickly become of a part of your company’s family, and at a much lower cost than hiring a full-time in-house lawyer. With this in mind, it is important to realize that not all OGCs can offer the same insight and guidance, as there is more to being an OGC than just offering legal advice. If you are considering adding an OGC to your team, be sure that the attorney has extensive experience in matters that pertain to business management. You might also look for one who has familiarity with business ownership outside of their legal practice. By doing so, you can get the most well-rounded help across many issues and areas of your company.

Learn More About the YourOGC Program

At the Gierach Law Firm, we are prepared to help small and medium-sized businesses as outsourced general counsel through the YourOGC program. With our background in business ownership, management, and the law, we are equipped to provide the guidance and representation your company needs. Call one of our Naperville outsourced general counsel attorneys at 630-756-1160 for a consultation today.

Source:

Forbes