What Is Outside General Counsel?
Businesses often need legal guidance long before they need—or are ready to hire—a full-time in-house attorney. Outside general counsel provides Florida businesses with access to experienced legal counsel on an ongoing or as-needed basis without adding a full-time attorney to the payroll.
Rather than becoming involved only after a dispute arises, outside general counsel can work with business owners and decision-makers on the legal issues that arise during ordinary business operations. This may include contracts, transactions, corporate governance, risk management and other business matters.
How Is Outside General Counsel Different From In-House Counsel?
An in-house attorney is typically an employee of the company who handles its legal matters internally. For many small and midsize businesses, however, employing a full-time attorney may not be practical or necessary.
Outside general counsel can provide many of the benefits of an ongoing attorney-client relationship while remaining independent of the company. Depending on the needs of the business, counsel may be engaged for particular matters, on an ongoing basis, or when legal issues arise.
This arrangement can also allow an attorney to become familiar with the company’s operations, contracts and business objectives rather than starting from scratch each time a legal question arises.
When Might a Business Need Outside General Counsel?
There is no single point at which a business needs ongoing legal counsel. Often, the need becomes apparent as a company grows and its legal matters become more frequent or complex.
A business may benefit from outside general counsel when it is regularly negotiating contracts, entering new business relationships, considering acquisitions or investments, addressing ownership or governance issues, or making decisions that carry significant legal or financial consequences.
Having counsel involved earlier can also help a business identify potential issues before they develop into more expensive disputes.
What Can Outside General Counsel Help With?
The scope of outside general counsel services depends on the business and its particular needs. Common matters may include:
Contracts and agreements. Drafting, reviewing and negotiating commercial contracts, vendor agreements, service agreements and other business documents.
Business transactions. Advising on acquisitions, sales, investments and other commercial transactions.
Corporate governance. Addressing entity matters, operating agreements, ownership issues, corporate records and governance matters.
Risk management and dispute prevention. Identifying legal risks and addressing potential problems before they escalate.
Day-to-day business counsel. Providing practical legal guidance when questions arise during ordinary business operations.
When a matter requires expertise outside the attorney’s practice area, outside general counsel can also help the business identify when specialized counsel may be appropriate.
Ongoing Counsel vs. Hiring an Attorney for a Single Matter
Businesses do not necessarily need an ongoing legal relationship for every issue. A company may simply need an attorney to review a particular contract, advise on a transaction or address a specific legal question.
The advantage of an ongoing counsel relationship is continuity. An attorney who understands the company’s structure, operations and objectives may be able to provide advice within the broader context of the business.
The appropriate arrangement depends on the frequency and complexity of the company’s legal needs.
Outside General Counsel for Florida Businesses
Macon Law provides outside general counsel services to Florida businesses seeking practical, experienced legal guidance on an ongoing or as-needed basis.
Attorney Nadine Macon’s experience serving as in-house general counsel provides a business-focused perspective on contracts, transactions, corporate governance, risk management and day-to-day legal matters.
Businesses can learn more about Macon Law’s Outside General Counsel services or contact the firm to discuss their legal needs.
Be the first to comment