Why “In-House Counsel” Legal Outsourcing Makes Sense for Small Business
Author: Zhanna A. Maydanich, Esquire
All businesses both large and small have legal needs to ensure their protection and compliance needs. Some businesses, if they can afford it, employ full-time, in-house counsel and some pay escalated retainer and hourly fees to large law firms for these services.
However, for many small businesses, neither option provides a financially feasible or efficient solution. While all businesses require legal counsel from time to time, many small businesses cannot afford to work with expensive law firms, much less employ in-house counsel full time. So, what can they do?
In recent years, a third option known as “in-house counsel” legal outsourcing has solved this issue for many businesses.
All Businesses Need a Lawyer
Unlike the corporate giants who need to know the ins and outs of national and international laws as part of everyday decision making, small businesses may never expand their reach beyond their neighborhood. Most small business owners believe that as long as they follow the law and are careful, they won’t need legal help. However, this couldn’t be farther from the truth. The law, especially when it comes to business, is complicated and trying to navigate it without the help of a business lawyer in Owings Mills is a dangerous endeavor.
Attempting to address any business matters without legal counsel is risky. Taking actions without understanding the legal implications or executing and creating documents without legal counsel can compromise the business and jeopardize its future. The best approach to managing the cost while ensuring experienced legal counsel is through “in-house counsel” legal outsourcing.
What is “In-House” Legal Outsourcing?
There are many reasons why a small business may need to consult a lawyer but does not need this service daily. Traditionally, in larger corporations, the “day-to-day” legal matters are handled by in-house counsel employed by the company with larger, more legal sensitive issues or these are handed off to full-size law firms. However, this is quite expensive to maintain over time. Legal outsourcing brings together the benefit of in-house counsel with the expertise of working with an expensive law firm.
Legal Outsourcing is the modern solution to the age-old problem that every small business faces. The need for reliable, industry expert legal counsel without breaking the bank. In a nutshell, “in-house” legal outsourcing is engaging the services of an attorney who is familiar with your industry and business to serve on an as-needed basis as your “in-house” attorney. Specific legal help is there for you when you need it, with an understanding of your business at a price that is both affordable and dependable.
What is the Value of Part-Time In-House Legal Counsel?
Outsourced “in-house” legal counsel provides legal services required to identify risks and provide advice and support long before chaos ensues. Outsourced “in-house” counsel knows your business and understands how you want to present yourself in a public forum. With outsourced legal counsel, you can trust that you won’t get caught up in using pricey legal services for your legal needs without losing out on the subject matter you typically find among experienced law firms.
ZM Law Group is Your Legal Resource
Reliable, responsive, and knowledgeable legal counsel at a reasonable price is essential to your business’ growth and success in the long term. If you’re looking for a business lawyer in Owings Mills with the experience of a large firm and the dependability and subject matter knowledge of in-house counsel, then contact us, Zhanna Maydanich at the ZM Law Group, today.
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