Growing companies want a lawyer to represent them in connection with business transactions as well as advice regarding day-to-day matters. Traditional methods of retaining legal service are not cost effective. Law firm overhead costs – for office space and support staff – limits a firm’s flexibility in fee-setting. Hiring an in-house counsel is also expensive after factoring in the benefits that are typical of employee status.
Independent general counsel services offer a third option that many companies find attractive: independent general counsel on an as-needed basis, either on site or off-site, as appropriate, to handle the company’s legal needs. Because they handle all of a client’s legal needs, they have a better understanding of the company’s business and goals and can render responsive and knowledgeable legal services that are tailored to the client.