An in-house counsel is a common practice by business owners, where they hire an attorney as an employee of the company to represent them in legal matters and advise where necessary.
An in-house attorney is more conversant with many scopes of the legal world since he is involved in any form of law related company need. The lawyer has different roles, depending on the region and company, such as contracts, risk mitigation, labor/employment and tax.
Below are some reasons why you should hire an in-house lawyer for your business:
- Rapid growth
- A link with external lawyers
- Peace of mind in business dealings
- Priceless knowledge
- Emotional attachment to the organization
- Cheaper option
Hiring a lawyer for your business directly influences a rapid growth in the company. This is because the lawyer is able to spot any legal issue that may arise and hamper the business growth, and they act on it as early as needed. This ensures the company does not bump into legal battles when still young.
In the case of a big firm which has more demanding legal counsel, there should be an in-house lawyer who oversees the outsourced dealings. This lawyer also ensures that the company gets the best deal from the external law firms, and also ensures effective representations.
You will get peace of mind when you hire a lawyer for your business. This is because as a company you will have direct access to legal counsel when needed, as opposed to sourcing it from external sources, which can be hectic.
In the case of an in-house lawyer who has grown with the organization, they know everything about the organization. This means that in the case of a legal representation, they have all the facts and historical dealings of the company. This is unlike depending on external counsel, who will require deep debriefing on the past operations, to give them a foundation for a court case. An organization is advised to hire a lawyer for their weakest liability, which they grow into a strength.
When hiring a lawyer for your business, you get someone who grows into the organization and since they are part of it, they become attached. This means they are able to work hard to help the organization achieve its goals, which would be equally beneficial to them.
When getting an external lawyer, organizations opt to go for law firms for a better representation, which charges high prices. In-house lawyers are salaried, and this does not change in the case of a court representation. The fact that they are always at the organization reduces the risk of court battles since they are able to point out a potential threat before it occurs.
In-house lawyers are a plus for any organization, whether they opt for a resident lawyer or a partner law firm which grows with the organization. The dealings of these lawyers vary from organization to organization and are in some cases regulated by the jurisdiction of the region.