Why More Businesses are Using External General Counsel
Companies with no in-house legal staff often face an uphill battle when it comes to handling their legal matters. The desire to bring a full-time professional on-board is certainly there, but the funding frequently isn’t. As a result, key decisions are either never made, delayed, or completed with fingers crossed.
If your organization struggles with this conundrum, it may be time to consider the benefits of partnering with outside general counsel. Here are 4 key advantages:
- Controlled Cost—With outside general counsel, you can typically gauge the legal costs your company will pay each billing cycle with a fair degree of accuracy. But, since the billable hour continues to be the most prominent revenue model for lawyers, many organizations fear being blindsided by high bills during spikes in legal activities. Seeing the advantages of a set-cost partnership vs. billable hours, Doug Kortrey—who founded and runs a law and advisory firm that specializes in providing outside general counsel services—says the last thing he wants is a client who won’t seek his firm’s legal expertise because they’re too concerned about mounting costs. “We want to eliminate those concerns and provide cost predictability and consistency during the complete business cycle,” he says.
- Reduced Risk—Although the decision to outsource legal services is often focused on controlling cost, bringing on external legal support can also drive down a client’s business risks. With experienced outside general counsel, businesses have an expert who can help them navigate the legal landscape, make informed business decisions that mitigate potential risks—and provide peace of mind. “It’s similar to hiring an architect,” Kortrey explains. “Imagine trying to build a home without this expert’s blueprint as a guide—it would be foolish to move forward without their expertise. I don’t understand why any company would risk advancing its business without appropriate legal counsel.”
- Improved Efficiency—Like many other business consultants, the right outside general counsel can help an organization operate more efficiently. As the external legal resource builds an in-depth understanding of the client’s organization, their knowledge, insight, and experience will help uncover issues before they actually become problems. “Instead of reacting, the client avoids the problem or simply addresses it before it ever materializes,” Kortrey, who has 20 years prior experience serving as in-house counsel, summarizes.
- Broad Expertise—Knowing that legal issues rarely fall into just one category, partnering with the right external general counsel can provide access to legal expertise across a variety of disciplines. This approach allows you to interface with one attorney to handle all your legal matters and streamline the management of lawyers who practice in various disciplines, drawing on their expertise at the right time, helping control overall legal spend.
If your organization wants the benefits of expert legal support but doesn’t have the budget to bring on a full-time attorney, outside general counsel might be the right solution. Businesses that take this approach often find they spend less on legal expenses but receive much more in return.
For more information about the Law Offices of Douglas Kortrey or to schedule a consultation, please call or email us today. We want to become your organization’s trusted legal partner.
(973) 435-7040
doug@kortreylaw.com
