What is a Fractional General Counsel?
A fractional general counsel is a part time licensed attorney (treated as an independent contractor) who provides on-going legal services to your organization at a flat-rate or fixed price structure. While the fractional general counsel will have other clients, your organization receives a specific number of hours each month of dedicated service. For a set fee, you have access to this attorney for a legal emergency or for general legal advice. If you need additional services beyond the set number of hours per month, you typically pay an agreed upon hourly rate or set fee for specific services.
The benefits of receiving legal advice are the same across all industries. An attorney helps your organization solve legal and often business problems (based on their experience) in addition to helping your organization comply with all local, state and federal laws and regulations. Your general counsel is a trusted advisor to the business executives.
What are the Benefits of a Fractional General Counsel for Your Organization?
1. Custom sized legal services at an affordable price. With fractional general counsel, you have an available attorney who knows and understands your business and its mission at a low and manageable cost, usually a few thousand dollars.
2. Receive ongoing legal advice and review to ensure compliance with various federal, state, and local laws.
3. Set fee allows your organization can budget for professional services more accurately.
4. More credibility for your organization. Your fractional general counsel can be provided an organizational email address and can be listed on your website, lenders or pitch documents.
5. Adds an experienced member to your executive team at a nominal cost. Your fractional general counsel can attend dedicated meetings with senior management to discuss strategy that avoids litigation or serve the Board of Directors of the Nonprofit to ensure best corporate governance.
6. Discounted legal services for additional work (such as litigation as either a Plaintiff or a Defendant).
7. Having fractional general counsel allows the organization to focus more on operations and mission instead of worrying about compliance and legal matters.
8. Access to an attorney team member when needed for answers to pressing legal questions
9. Your organization is taking a proactive approach to risk management rather than a reactive approach and can avoid problems rather than just solve problems.
10. An ongoing relationship allows your General Counsel to be familiar with your business and key participants, which makes it easier for you to communicate your issue and the counsel to give effective advise or ask pertinent questions. Engaging contract lawyers as needed cannot provide this benefit.
Sanjay R Chadha Law PLLC . is now offering fractional general counsel services to small and mid-size businesses. If your business is interested in learning more about these fractional general counsel services, please contact us at 866-818-2328 or via email at [email protected].