When you work with an outsourced general counsel they will take on the legal piece of your business, steer your company into compliance, and help you mitigate your legal risk. This lawyer should work with you rather than for you, be your trusted legal advisor.
Generally, your outsourced general counsel will form your company using a business structure that benefits how you work, protects your assets, and considers the best tax structure; draft, review and negotiate appropriate contracts and build a contract bank providing contracts for use with your vendors and service providers; guide you in your employment issues, should they be hiring, firing or somewhere in between; advise you in areas where you might need trademarks or copyrights and complete applications to perfect these rights; and answer questions and provide guidance on any other issues that pop up in your business on a regular basis.
As your outsourced legal counsel, the benefit is that you form an ongoing, regular relationship with a lawyer. This attorney knows your company and helps you grow your business in a legally compliant way while assisting you in risk mitigation. An outsourced general counsel should be a trusted legal advisor, someone that you regularly discuss your company with and form a relationship with, someone that you are in contact with regularly rather than someone who you call only after you have dire need to speak with an attorney about a particular legal issue you are facing in your business, like if you are sued.
Working with an outsourced general counsel makes you proactive in your business’ legal matters rather than reactive. Being proactive may save you money because once you are in a reactive posture you will pay. Do you wish you had an Outsourced General Counsel to call?
If you are needing help with your business planning contact us to schedule your comprehensive Business Building Benchmark today so we can identify the best course of action for you.
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