The Virtual General Counsel Service
What is It? Designed for companies with on-going, monthly legal requirements that could typically be handled by an in-house attorney, our Virtual General Counsel service is an innovative way to allow a company to satisfy an in-house General Counsel or Corporate Counsel requirement at a fixed monthly charge that is significantly less than the considerable cost to hire an employee to fill such a role. All services are provided by the same attorney who becomes your dedicated and virtual General Counsel. This service provides prompt and efficient legal support to all areas of your company on all day to day matters such as corporate governance, employment issues, technology and commercial contracts and transactions, product marketing issues, dispute resolution, intellectual property protection and real estate.
How Does It Work? At the inception of the program we will meet with you to understand the nature and quantity of the legal work required in order to set and agree upon the initial monthly fee. The monthly fee is designed to stay the same regardless of amount of hours that we utilize in providing the service.
Is the Fee Ever Adjusted? Because the major benefit of the service is to allow a company to have the benefit and skills of an in-house General Counsel on a flat-fee, predictable cost basis, the fee is only adjusted (up or down) on an infrequent basis to be more closely aligned with the client requirements. Thus, the initial monthly fee will be reviewed after the first three months, and thereafter subject to periodic review as needs change, typically on an annual basis.
Are All Transactions Included in the Fee? The only matters that we do not include within the Virtual General Counsel service fee are significant and non-routine transactions and matters such as litigation, mergers and acquisitions, substantial strategic relationships and investment/equity/debt financing. We will handle these matters for you at our below-market hourly rates. Bank loan transactions and dispute resolution activities prior to litigation are included in the Virtual General Counsel service.
What Are the Benefits to the Client?
1. Timely access to a senior, experienced General Counsel at a predictable and below-market rate that is far less than the salary and benefits cost of even a junior in-house counsel employee.
2. Eliminates the practice of hourly billing and allows both parties to better focus on the matters at hand without concern over tracking the hours expended.
3. Allows the client to better budget for legal expenses.
4. Counsel quickly develops an in-depth knowledge of your business thus increasing the efficiency and business orientation of the legal services rendered.
Please contact us for more detail and to discuss how the Virtual General Counsel Service can benefit your company.