With greater scrutiny coming from the SEC, FINRA and state regulators, firms across the financial industry have turned to outsourced general counsel to assist with both regulatory compliance matters and traditional corporate counsel needs.
So, what is an outsourced general counsel? This attorney becomes part of the DNA of the firm. On a fixed fee arrangement, counsel will assist with contracts, employment matters, oversee legal intellectual property considerations and address legal matters real-time.
The primary advantages of hiring an outside general counsel are:
- Cost Efficiency;
- Proactive Risk Mitigation; and
- A Dedicated Legal Resource.
Cost efficiency. It often is more cost-effective to hire an outsourced general counsel than maintaining a full-time legal employee. Having a fixed fee outsourced general counsel allows your firm to budget its money and time more predictively and efficiently.
Flexibility. With an outsourced general counsel, your firm can contract for legal services on a project-basis OR on a continuing basis, without the pressure and limitations of a long-term commitment. This allows your firm to be in complete control of the process, using legal services when it makes the most sense to do so.
Risk Mitigation. The right outside law firm brings with it a wealth of experience and expertise in a wide range of legal areas that companies may not be equipped to handle on their own. Having a dedicated legal resource that understands the DNA of your firm can help mitigate regulatory and legal risks… by promptly addressing issues as they arise.
Jacko Law Group’s dedicated team of professionals with in-house experience in the securities, corporate, and financial industries, can serve as your outsourced general counsel.
For more information about our areas of practice and general counsel services, call Jacko Law Group today at (619) 298-2880 or visit jackolg.com.