A recent article from Yahoo! Business says that companies are moving to outsource legal services to hold down costs. The authors see more than 30% of corporate spending on legal services moving to part-time executives in the next 5 years.
The reasons are obvious, especially for growing companies. As companies scale up, their need for sophisticated, experienced professional advisors grows with the complexity of the business. But as you’re still growing, it can be expensive for a “scale-up” business to bring on a bunch of full-time executives.
As all sorts of services move to an “on demand” paradigm, it’s only natural that some companies tire of their current legal arrangements, with outside firms charging big hourly rates, and using your cases to teach young lawyers, rather than you getting the benefit of experienced counsel.
But there’s a better way! Look into hiring a Fractional General Counsel – you subscribe to a certain package of hours per month that the lawyer in on call for you. Keep your legal expenses predictable and within budget.
The lawyer gets the benefit of having a deeper relationship with a handful of key clients, rather than having to juggle 75-100 different client matters at a time, and having to rely on staff to do many of the more mundane tasks that companies sometimes require.
Have a personal relationship with your lawyer by making them part of your team, not just an expense to be managed. Call or email me to find out how a Fractional Executive may be the right answer for your business.
Matthew Van Ryn, Esq. (315) 877-1741 firstname.lastname@example.org.