Top Reasons Why Business Owners Need General Counsel

Written By Jessica S. Mazariego, Esquire

While it is best to consult with a business attorney in forming your business, it is al-so best practice to keep an attorney on retainer for general business counseling.

What is general counsel?
A general counsel attorney is usually a business law attorney that provides broad legal advice to the company. General Counsel has a duty to look out for the company’s best in-terests and can provide a unique perspective, especially regarding legal implications, on the company’s activities.

I’m a business owner, but why should I retain a general counsel now?
From a risk management perspective and to protect the business, its owners, sharehold-ers, and investors, hiring a general counsel now could save you thousands of dollars in the future. It is always easier to consult an attorney before taking action, as opposed to consulting an attorney when things go south.

What can a general counsel do for me that other attorneys cannot?
A General Counsel Attorney helps with a broad range of business-related issues. Your designated counsel will already know the ins and outs of your company, the intricacies, the management style, the risk level of the company’s business activities, and more. With that, your attorney has the knowledge to counsel you on how best to tackle an is-sue while balancing all of the aforementioned factors. The established relationship a general counsel provides to a business is invaluable because it prevents the expense of bringing a new attorney, in every legal practice area, up to speed on how your company operates. It makes it much easier for general counsel to provide immediate legal action in the event a dispute arises.

So, I hire a General Counsel, what can I ask them to do for my company?

General Counsel provides a laundry list of services for clients:

  • Contract drafting, negotiation, and review
  • Business Succession Plans
  • Business Continuity Plans
  • Compliance Counseling, including policies and procedures
  • Due Diligence Assistance
  • Finance and banking information
  • Employment law information and training
  • Intellectual property
  • Litigation, as needed
  • Dispute Resolution (settlement negotiations, etc.)
  • And more!

At the end of the day, a General Counsel Attorney can step in as necessary by providing prompt and effective feedback on concerns, developing issues, or general advice. All of this is accomplished on a proactive basis, which can help prevent some issues escalating into significant issues and subsequent litigation. Many business owners find that having a general counsel on retainer costs significantly less than hiring one after attempting to resolve the issue independently.  Furthermore, general counsel attorneys are more readily available to business owners – you’re on a first name basis, you have their direct phone lines, etc.

For more information on our general counsel packages, please contact the Business Law Group at Gilbert Garcia Group, P.A.