Does My Company Need In-House Counsel?
When a small business begins to see success, it is with the work of countless people both behind the scenes and on the proverbial front line. One of the most important performers for many businesses is their attorney – but not every business needs to have counsel in-house. Depending on several different factors, your business may need an in-house attorney on retainer, or you may be able to get by with an occasional specialist hire – but in general, having in-house counsel is preferred for most.
What Can In-House Counsel Do For Us?
There are several reasons why in-house counsel can be indispensable for a small business, particularly a small business looking to grow. Perhaps the most important is in handling complex business transactions such as Initial Public Offerings (IPOs) – every aspect of business law is full of small details that a layman might unintentionally omit, while a trained attorney is much more likely to spot potential mistakes.
Another crucial task that in-house counsel can streamline is navigating Florida employment law. A growing business will eventually take on more and more employees, and an attorney well-versed in this area of law can not only aid in crafting documents like employment contracts, but can also teach business owners and officers about the specifics of this discipline. This can be a building block for the future – a solid foundation on legal principles can avoid problems later on.
Why Hire An Attorney On Retainer?
Knowing what in-house counsel can do may not be sufficient in terms of deciding whether or not to have one. One of the most important reasons to have in-house counsel is the issue of response time. An outside attorney may take days or weeks to get back to what may be an urgent request – an attorney on retainer can respond much more quickly and ensure your business’s missed opportunities are minimal. Related to this, an in-house counsel can help your business make better-informed decisions in general; fast and knowledgeable information can be worth its weight in gold, particularly in ever-evolving industries.
Speaking of one’s weight in gold – cost is given as one of the many reasons small businesses choose to avoid having in-house counsel, but in reality, it is much more cost-effective in the long run to not have to pay legal fees to newly hired specialists, to say nothing of costs associated with research and discovery. The nature of a retainer means that in-house counsel must make themselves available to you whenever possible, cutting out the time-consuming hassle of having to find an attorney who suits your needs in that specific situation.
Contact A Seminole, FL Business Law Attorney
There are many different reasons why one might enlist in-house counsel, but the overarching reason is always to help their business grow. A Florida business law attorney from the Hunt Law Group can help to answer your questions and advise you on the best possible future path for you and your business. Call our office today to schedule a consultation.
