Companies without an in-house legal team, or even a small one, can sometimes find dealing with legal matters a little tedious. There is not always a full need or budget to hire more staff, which can lead to some decisions being made without fully evaluating the legal impact.
It is in this instance that many businesses look at getting counsel from external law firms who offer consultancy to individuals and businesses.
What are the benefits of an external general counsel?
With external general counsel, you will be able to gauge what you are spending on legal costs based on the billable hour rate and any other agreed costs/charges. If you are receiving advice on an ad-hoc basis, then external counsel can work out much more cost effective than hiring a full-time member of staff in-house.
An external counsel can help to spot issues before they develop in to bigger problems. As they are viewing the company from the outside this gives them a bigger picture of how the business operates and therefore allows them to establish the best methods for working together.
In-house teams will have a very narrow view in comparison and will often be too busy or distracted to pick up on things that an external lawyer might.
Unfortunately, legal issues will rarely fall in to one category, even if your business only specialises in one area. By choosing a law firm that has a variety of professionals specialising in different areas of law, you can be sure that all bases are covered and that you are getting the right counsel when you need it.
If you are looking for legal support, make sure you get in touch with different firms and individuals to see what they can offer you before you make a decision.