Most small and mid-sized businesses cannot afford the benefits of inside general counsel. Some of the benefits of inside counsel include easy access to legal advice, cost controls on the cost of legal services, and legal focus and expertise in a specific business and industry. What if it were possible to have at least many of the benefits of inside general counsel, without the fixed overhead of inside counsel?
Here are some things outside counsel can do to provide some of these benefits:
- Manage legal risk, including annual compliance and legal reviews
- Conflict resolution management.
- Be readily available to respond to routine legal questions
- Attend board meetings
- Coordinate the delivery of all legal services
- Gain industry knowledge by attending industry conferences
- Work as a member of the management team
- Review legal bills and work on alternative billing arrangements