Reasons to Outsource General Counsel Services for Business
Outsourced general counsel services or an inhouse general counsel is a crucial decision for an organization. The decision largely depends on the nature and size of the business, at what stage of its evolution the company is in and how frequently general counsel services are required. More importantly, is whether a business can afford to have a full-time general counsel as legal advice is very expensive these days.
4 Reasons why general counsel services should be outsourced. â—? General counsel plays a vital role in ensuring a company functions within the scope of the law. Apart from assisting and guiding the management in general matters of legal compliance, other legal issues arise from time to time, which a general counsel is required to address.
1. Cost-Effective � Outsourcing general counsel services can be a cheaper option for some companies. For small and midsize companies, the volume of legal work may not be that much to have a full-time legal employee. � Companies can get the same level of legal experience and expertise by outsourced general counsel services at a fraction of the cost they would otherwise incur. It’s prudent to get outside general counsel services rather than employ a general counsel attorney.
2. Valuable Resource to the Company ● A dedicated counsel who remains onsite to address and manage the legal issues of a company will gradually and steadily develop a better understanding of the intricacies of the business, a very useful resource for a company, lawyer’s knowledge, understanding of the company’s operations and help you to enhance. ● Having an outsourced general counsel as a go-to person for every legal issue that may arise will encourage the attorney to go beyond the general functions and provide enhanced services to the company.
3. Allows the Management to Focus on Core Business â—? General legal matters like government compliance, contracts, human resource management, etc., that were taken care of by this personnel can now be managed more efficiently by the outsourced general counsel. â—? Meaning crucial other personnel can perform the regular functions that they have expertise in. They can now focus on the core business operations with an uncluttered mind. The extra time available will result in the more efficient functioning of the organization.
4. Streamlines the Legal Functions of the Company ● When there is a dedicated outsourced counsel, the legal functions get organized. All routine legal work and even the more specific legal issues are handled by the outsourced counsel. ● An outsourced lawyer won’t have the knowledge and expertise to handle each and every legal issue that a company might be faced with. There would be times when outside legal help would be required.
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