Most companies recognize the need to have a lawyer represent them in contract review, drafting and negotiation, and to provide day to day legal counsel generally. They may have one or more law firms that they use (and probably like using) but many find that traditional law firms to not be cost effective for day to day legal advice that could significantly lower their risks and for contracting work because a law firm's overhead costs limit their flexibility in fee-setting.
Many of these companies considering hiring inside counsel as an employee, but with an executive level salary and the expenses of benefits, this can also be costly. These companies, however, recognize the need for experienced and responsible counsel.
A third alternative, Outsourced Legal Counsel, is an attractive middle ground for both companies (1) who do not wish to incur the expense of a full-time in-house counsel, and (2) who have general counsel but need additional in-house legal support. For a cost much lower than a traditional law firm or a full-time employee, you receive pragmatic advice and quality legal services from an attorney who has served as in-house legal counsel, has hands on experience as part of a management team, and who will quickly develop an understanding of your business issues, internal systems, and internal and external relationships. This approach can be a significant cost savings to your company, and reduce your business risks, for comparable experience and results.
Our focus is a long-term relationship with clients to effectively manage risk and identify opportunities. Other benefits of using Outsourced Legal Counsel include:
Most clients utilize traditional law firms for their litigation, large M&A financing transactions, SEC filings, and other specialized legal work. Outsourced Legal Counsel does not generally completely replace law firm counsel, but supplements it in a much more efficient and cost-effective manner. Outsourced Legal Counsel can be used in various ways:
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