A fractional general counsel is a licensed attorney who practices law part-time and is paid a fixed fee for continuing legal services. They are regarded as independent contractors. Each month, you receive hours of individualized attention from the fractional general counsel or law firm, but they still serve other clients. If you require an outside general counsel or have an urgent legal matter, you can retain the services of this lawyer for a set fee. An FGC is a part-time attorney who provides strategic legal advice without taking on a full-time role.
Create A Closer, More Reliable Attorney-Client Relationship
A fractional general counsel can assist businesses in coordinating their legal advice more effectively. A fractional general counsel lawyer acts as a reliable advisor to companies, helping them to achieve their objectives, align their interests, and provide solutions that benefit all parties.
They know that a successful business depends on more than legal matters. Rather than deterring business leaders from obtaining legal assistance, the fixed-fee method encourages greater contact and legal planning, strengthening the bonds of trust between firms and their legal counsel.
Cost-Effective
Hiring full-time or permanent in-house counsel, which comes with overhead, benefits, and compensation, is far more expensive than using fractional or outside general counsel services. The expenses incurred by small businesses seeking to balance expansion with cost containment may be burdened by these labor expenditures.
Furthermore, hiring outside general counsel is typically significantly more economical than relying only on outside legal firms for legal advice and services.
Allows the Business to Focus on The Business
Risk and legal matters can be complicated and time-consuming. Business owners & executives frequently attempt to handle legal issues independently when there are no readily available or reasonably priced legal options.
Despite their accomplishments, the CEOs lack the necessary training to deal with these situations. Their primary skill is carrying out business duties. By hiring outside or fractional general counsel, they will be relieved of the load. They can focus their efforts on running the business and raising its efficiency.
Access to a Network & Quick Integration
Numerous FGCs have extensive professional networks that encompass other legal experts. This is helpful when you require specific guidance or a recommendation.
Moreover, FGCs are used to quickly pick up on a company’s operations, culture, and difficulties. They can get started immediately and add value instantly because of their quick integration.
Provides Expert Advice and Resolutions for a Range of Issues
In-house lawyers possess extensive knowledge in both law and business. This information may be used to foresee legal issues and provide suitable solutions to enhance business performance.
Your team will benefit from early legal issue identification from in-house counsel, saving you from handling them after the fact. Put another way, internal legal counsel helps your business avoid legal trouble from the start.
Furthermore, because they are familiar with your company, the outside general counsel may provide comprehensive guidance that considers all relevant business factors and legal difficulties rather than just situational or project-specific assistance.
Hiring a fractional general counsel is a wise strategic choice to help your company grow. Their specialized knowledge and affordable legal solutions are only two of the many advantages these experts provide, surpassing the constraints of conventional legal models. By utilizing fractional general counsel’s adaptability and expertise, your company may successfully traverse the legal system and concentrate on its core competencies: expansion and success.
