The Role of a Fractional General Counsel in Contemporary Businesses

October 2, 2023

In today’s world, running a business and managing a business’s legal risks go hand-in-hand. Nearly all aspects of running a business have legal implications, from hiring employees to collecting customers’ information. If business owners don’t address these legal implications proactively, they can quickly find themselves facing litigation—and this can threaten a company’s viability as a going-concern in some cases.

But, many businesses don’t have the budget to hire an in-house general counsel. Even though their owners and executives need legal advice daily, adding a corporate lawyer to the payroll or even consulting an outside attorney on a billable hourly basis simply isn’t an option.

This is where the role of a fractional general counsel comes into play.

A fractional general counsel (also more commonly referred to as outside general counsel) is a lawyer in private practice who effectively serves in the in-house counsel role — at a fixed price per month. While a fractional general counsel isn’t on-site daily, they are available on an as-needed basis, much like a lawyer working full-time for the business. As fractional general counsel gets to know the business, they can provide proactive legal advice and recommendations and consult with the business’s leaders without needing time to get up to speed.

What Can (and Should) You Expect from a Fractional General Counsel?

These days, businesses cannot afford to move forward without addressing the myriad legal risks they face on a daily basis. Hiring a fractional general counsel is a cost-effective solution. Here is what you can (and should) expect when you move forward:

1. Straightforward and Transparent Pricing

A fractional general counsel should offer straightforward and transparent pricing. This way, you can budget confidently and measure the value of the services your company receives.

2. Regular Availability and Flexible Scheduling

As a business owner or executive, you don’t have time to wait for answers to your legal questions. A fractional general counsel should be available regularly, remain nimble and responsive to your company’s needs, and offer prompt guidance and flexible scheduling to meet business needs.

3. Advice and Representation for Business, Corporate and Employment Matters

You should be able to rely on your company’s fractional general counsel to provide advice and representation for all business, corporate, and employment matters. However, your company will still need to engage counsel separately for certain areas of speciality such as patent and tax law, and possibly litigation.

4. A Relationship Devoted to Your Business’s Needs

You should be able to develop a close working relationship with your company’s fractional general counsel. This relationship should be devoted to meeting your company’s needs as efficiently as possible.

5. A Commitment to Facilitating Your Company’s Growth

Finally, your fractional general counsel should share your commitment to your company’s growth. A fractional general counsel should be there to help facilitate the achievement of your long-term business goals and be proactive in identifying your finance and legal needs.

Inquire About Our Fractional General Counsel Services for Businesses

Would you like to know more about engaging a fractional general counsel for your business? If so, we invite you to get in touch