When a business is growing and expanding, it’s crucial to have an excellent legal team in place. In some cases, it may make sense to hire Florida business attorneys to help with the legal aspects of the business. Here are five reasons why you might want to consider hiring an outside general counsel:
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Expertise in specific areas
An outside general counsel will have expertise in specific areas of the law, such as mergers and acquisitions, securities law, or antitrust law. That can be helpful when your business is expanding into new markets or industries, and you need someone who can guide you on specific legal issues.
Independence
Unlike in-house counsel, an outside general counsel is independent and is not beholden to the company. That can be beneficial because it ensures that the lawyer provides impartial legal advice to the company.
Quicker response time
An outside general counsel will usually have a larger staff than in-house counsel, which means they can respond more quickly to legal inquiries. That can be important when you need quick answers to legal questions.
Greater resources
An outside general counsel typically has more significant resources than in-house counsel, including access to larger lawyers and a support staff pool. That can be helpful when you need assistance with complex legal matters.
Cost-efficient
Hiring an outside general counsel can be more cost-effective than hiring in-house counsel. That is because an outside general counsel typically has a lower hourly rate and can provide economies of scale by leveraging their resources.
If you’re thinking about hiring an outside general counsel, contact an experienced lawyer today. They can help you determine whether this is the right decision for your business.
How to choose an outside general counsel
Choosing the right outside general counsel for your business can be tricky. There are a lot of factors to consider, and it’s essential to find someone who not only has the legal expertise you need but who also understands your business and its unique needs. This section will walk you through the main things to consider when choosing your outside general counsel.
You’ll want to look for an attorney who has expertise in the areas you need and is familiar with businesses like yours. They should also be able to provide references from other clients that they’ve worked with before and can vouch for their performance and how well they understand business needs.
When interviewing candidates, ask questions about specific situations that could arise at your company. You’ll want someone who not only understands basic corporate law but who has the knowledge and experience necessary to deal with those complex or unusual issues as well.
While specific technical legal skills are essential (e.g., knowing which laws apply to your industry), it’s equally important that your outside general counsel be good communicators. They should be able to explain complex legal concepts in a way that you and your team can understand, and they should be responsive to your questions and concerns.
Finally, be sure to ask about the attorney’s fees. You’ll want to find someone who is affordable without compromising on quality. Once you’ve found a few attorneys who fit the bill, it’s important to do some due diligence before making a final decision. Interview them further, ask for references, and check out their online reviews.
Working with an outside general counsel
Once you’ve chosen your outside general counsel, the next step is working with them effectively. Here are a few tips:
Involve them from the beginning
Whether you’re working on a new product or entering into a new business agreement, your outside general counsel should be the first person you contact. Be sure to share with them everything they need to know about the issue at hand so that they can give you informed legal advice and guidance throughout the process.
Provide the counsel with relevant company information
Give your outside general counsel access to relevant company information. That means sharing all relevant documents and keeping them up-to-date on any changes as they come up. Your outside general counsel will need this information to provide thorough legal advice tailored specifically to your business needs.
Be patient
Don’t expect an immediate answer whenever you have a question or request input on an issue – attorneys are busy people, and it might take some time to get back to you. Be patient and give them the chance to provide you with a comprehensive response.
Communicate any significant company changes
Keep your outside general counsel informed of any significant changes that occur at your company as they happen, as this will affect how they continue to advise you on legal issues. In addition, make sure all relevant employees know who the outside general counsel is so that if they have questions or concerns about an issue, they know where to go for answers.
Finding and working with a reasonable attorney can be a challenge. Still, it’s worth putting in the effort – after all, having a reliable attorney who understands your business needs is invaluable when it comes to protecting your company from legal issues. Remember to keep things professional, do your research beforehand, and listen to the advice you’re given so that you can get the best possible outcome for both your company and your bottom line.