Private Outside General Counsel
Outside general counsel is an innovative approach to legal services for growing and mature businesses. StrategySmith has the substantial in-house experience necessary to provide corporate counsel services as needed at a fraction of the cost of either hiring a full-time, executive-level general counsel or relying exclusively on traditional law firm counsel. Clients typically develop a working relationship with one outside general counsel and rely on that outside counsel to bring in, on an as needed basis, the disciplines necessary to address issues facing the company.
Companies who engage outside general counsel fall into two main categories: (1) those without full in-house counsel who need regular, on-going legal support but do not wish to hire a full-time in-house lawyer, and (2) those with in-house counsel who do not wish to add more full-time resources to their existing in-house staff. Our clients may already have one or more law firms that they use (and probably like using), but find those firms too expensive (and probably not fast enough in responding) to use for their day-to-day legal work. Another benefit is that an outside general counsel who is familiar with how traditional law firms work can corral many outside counsel who may have taken advantage of not having an experienced manager managing your legal spend. Litigation costs can get out of control if not managed by someone who understands the process and can give the matters the attention they need.
Like a full time in-house counsel, outside general counsel can have email addresses on your email system, have an extension on your phone system, and take other steps to be part of your management team. With prior in-house experience and substantial industry knowledge, we get up to speed quickly on your business and, like an in-house lawyer, develop an intimate knowledge of your internal systems and external relationships. We typically customize each billing arrangement to the particular needs of the client. Flat fees by the month or the project are particularly attractive to clients. By having this flexibility, project costs tend to be much lower than what law firms usually charge for comparable experience and companies can have a consistent number to budget against.
By utilizing this outside general counsel approach for your legal needs, the CEO or entrepreneur is free to do what they should be doing, running the business and expanding the markets. Every minute focusing on things that someone else can do is a lost opportunity.