All businesses will need legal advice and services at some point. However, many small and medium-sized growing organizations do not need (or cannot justify the cost of) a full-time general counsel, let alone an in-house legal department.
However, these companies often need practical, “get it right” advice from skilled and experienced lawyers. have deep knowledge of their business When navigating the risks and opportunities associated with profitable, sustainable growth.
Hiring a different lawyer or law firm for each new case or issue can be extremely cumbersome and inefficient, especially if you have to educate them about your business each time before offering advice or assistance. . This atypical transactional approach to working with lawyers may solve immediate issues and problems, but unless the underlying larger issues are addressed from a more strategic and proactive perspective, legal It can lead to a game of whack-a-mole. This requires industry knowledge. Understand the company's structure, risk appetite, and growth objectives.
Fractional General Counsel (FGC) service models allow companies to benefit from the knowledge, easy access, and deep legal expertise of an experienced general counsel and the extensive legal expertise of an outside law firm without paying relatively high fees and benefits. You can get benefits from your home. Unlike the typical, traditional “arms-length” engagement with law firm relationship lawyers, FGC engages with you and your management team to gain a deeper understanding of your company's challenges and opportunities. We are passionate about building and investing intentionally. As a result, FGC proactively provides strategic, actionable legal advice tailored to your company's growth goals and risk appetite, rather than being a reactive lawyer who “deadly stalls the deal.” Masu.
Here's how the FGC model has helped our business, and how it can help yours too.
Strategic partnership based on trust
At JANCOA, we were pleasantly surprised to find that the FGC model provided more than just legal services. The FGC model has become an important means of obtaining trusted business advice and legal counsel. Our FGC quickly became an integral part of our leadership team, providing hands-on problem solving and a “legal gut check” on the potential impact of important business decisions.
For example, our FGC proactively notified us of potential administrative issues and promptly addressed them. This is something that an outside company working on a specific problem might not have noticed. He also advised family businesses on transition and succession planning issues and helped them strategize for the future.
This relationship proved invaluable when our business hit hard times. Having someone you trust to provide strategic advice and engage in difficult conversations can ease the burden on leaders and provide a sanity check.
Flexible, scalable and affordable
Innago typically hired companies on an ad-hoc basis depending on the case at hand. But as our legal needs rapidly grow, we realize we need well-rounded attorneys who understand our business, can provide timely advice, and provide more measurable and predictable legal costs. got it.
With the support of a law firm, FGC gives us access to experienced lawyers across a wide range of practice areas, from intellectual property and litigation to labor and employment. As an added benefit, our FGC can advise you when to engage lawyers with more specialized legal and industry experience and keep them informed about our business (so that we can We will definitely give you the advice you need), when you need it. This type of on-demand access means issues can be addressed quickly, efficiently, and affordably.
Additionally, because there is no need to hire a full-time GC, early-stage small firms like ours can pay for their GC's salary and benefits without sacrificing quality legal advice or work product. Free up your spending to other aspects of your business. . Many FGCs operate on a fixed monthly model for a defined range of services, allowing businesses to contact them whenever they need to and avoid surprise charges.
For example, with the Federal Trade Commission's recent ruling, we are wondering how to interpret its potential impact on our business, and what compliance measures may impact our company. I didn't know. Thankfully, we have an FGC that knows our business inside and out, so contact an expert in this regulatory field right away to discuss your questions about the ruling and how to proceed in light of it. I did.
Temporary or permanent solution
The FGC service model is a temporary or more permanent way to access high-quality, personalized legal services as your company grows. This applies to organizations in industries with variable or seasonal legal demands, such as transportation or retail, or who need to rapidly scale up, add jobs, enter new markets, or enter new markets. This is a particularly useful model for organizations such as startups. Regulatory requirements.
The FGC model is a proven transition model for growing companies and startups, some of which have already hired a handful of other executives to supplement their leadership teams as they scale. . This model provides valuable legal advice and counsel without costing a fortune, allowing leaders to address pressing issues and plan for the future.
Fractional managers eventually lose their jobs and fend for themselves, but FGC has a long way to go. This model works for companies with annual revenues of $500 million to $400 million. When a company ultimately decides to hire a full-time general counsel or general counsel, FGC can help make the transition more seamless and ensure that person hits the ground running and ensures long-term success. We support you.
Whether temporary or permanent, the FGC service model combines the responsiveness, relationships, and business orientation of an in-house GC with the extensive capabilities and resources of a full-service law firm. FGC provides strategic and proactive legal advice to help leaders achieve a “yes” while managing risk. This is the trusted advisor every CEO needs.
