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Shared General Counsel Services
Fractional General Counsel in NJ and NY
Most small business owners cannot afford (nor does it make financial sense) to hire their own general counsel, devoted exclusively to their company. But legal issues come up fairly regularly and advice about the law is always needed. Hiring attorneys on an "ad hoc" basis does not allow counsel to have a real understanding of the structure of your company, history of dealings, agreements in place, employees, etc... And it always costs more (and sometimes gets you worse results) for the ad hoc lawyer to spend time going through your situation.
A fractional general counsel, also known as part-time or outsourced general counsel, refers to a legal professional who provides legal services to a company on a part-time or temporary basis, rather than being a full-time, in-house employee. The term "fractional" implies that the legal counsel's time commitment is a fraction of what a full-time general counsel might provide.
Companies, especially small to medium-sized enterprises (SMEs) or startups, should consider a fractional general counsel for various reasons:
Cost-effectiveness: Hiring a full-time general counsel can be expensive, particularly for smaller companies with budget constraints. Fractional general counsels offer a cost-effective alternative, allowing companies to access legal expertise without the high cost of a full-time employee.
Flexibility: Fractional general counsels typically work on a part-time or project basis, providing flexibility for companies to scale legal services according to their needs. This flexibility is particularly beneficial for businesses with fluctuating legal workloads.
Expertise on Demand: Companies can bring in fractional general counsel with specific expertise relevant to their current legal needs. This allows organizations to access a diverse range of legal skills without the need to hire multiple full-time specialists.
Strategic Guidance: Fractional general counsels can provide strategic legal advice and guidance, helping companies navigate complex legal issues, comply with regulations, and make informed decisions.
Risk Management: Having legal expertise available on a fractional basis can aid in identifying and mitigating legal risks, ensuring that the company operates within the bounds of the law.
Project-based Support: Companies may engage fractional general counsels for specific projects or transactions, such as contract reviews, mergers and acquisitions, intellectual property matters, or regulatory compliance.
In essence, fractional general counsel services offer a flexible and cost-effective solution for businesses to access legal expertise tailored to their specific needs, without the commitment of a full-time hire. This model has become increasingly popular, particularly among smaller companies seeking high-quality legal support without the financial and operational commitments associated with hiring a full-time general counsel.
Shared General Counsel Pricing
Hire our general business and personal planning services for your company and your family for a flat monthly fee. The various retainer services, along with the respective monthly fees, are listed below:
*For businesses that are pre-formation or just being established, your monthly fee will be $199/month for the first 6 months. Cancellation fees may apply to any Tier plan. Check your retainer letter for more informationAll retainer clients get priority for work and attention over "pay as you go" clients
Why Work with Our Law Firm?
With more than 30 years of experience drafting thousand of documents and handling hundreds of transactions, we have knowledge and expertise that would take you a lifetime to develop. So if you’re a small business owner, professional or executive, you’ve come to the right place. We are also proud to be recognized by our industry colleagues.
What Our Clients Say
Shared General Counsel FAQ'S
Who should consider a “Shared” General Counsel arrangement?
As a small business owner, you always benefit from sound legal advice and from having an attorney who is familiar with your company. We offer 4 different service packages to address our general client profiles: start-ups/solopreneurs, single-owner/family-owned businesses, multiple partners/families, as well as corporate executives or professionals. Your unique situation may make the program appropriate for you even if you fall outside these benchmarks.
Will this service replace the need for other attorneys I use currently?
In general terms, we will replace any attorneys who handle your business or estate issues. For matters not handled by our firm, we will hire or introduce you to other attorneys. Examples may include employment law, family law issues, criminal matters and bankruptcy. At your direction, we will work with outside professionals to resolve your issues.
Will use of this service save me money?
Although the service is designed to improve legal support for a manageable cost, it may save you money due to our replacement of multiple attorneys you may be currently using.
Besides the monthly retainer fee are there any other fees involved?
Yes. A processing fee of approximately 3% is added to your monthly payment. In addition to the retainer fee which is designed to pay for our time, you will also be charged for any costs or other fees incurred while handling your matters. Such fees include, but are not limited to, filing fees, recording fees, processing fees, use of outside professionals (if needed), etc… These will all be detailed in your retainer agreement.
In addition, depending on your Tier of service, you will also pay a discounted rate for work beyond the hours you are paying for under the retainer arrangement.Can the service be cancellable at any time?
Yes. While fees already paid are not refundable, you can cancel at anytime before the next fee is paid. We will reserve the right to require 2 business days to cancel your service and to stay on retainer as long as necessary to conclude open matters or to transfer records to a new law firm (if any).
How do you accept payment?
For this subscription service, we require that you keep a form of payment on record and receipt for electronic charges will be forwarded by email each cycle. We accept payment by VISA or MasterCard, American Express and Discover. Please note that 3% processing fee is added to your monthly payment.
Ready to work with us?
Schedule a free initial consultation today with our experienced Business & Estate lawyers at Beinhaker Law.
Simply send us a message or schedule a 30min meeting.