Law firms are uniquely positioned and bound by legal and ethical requirements that dictate how they conduct their business. As such, it can be helpful to have support navigating the various prerequisites and challenges that legal professionals are likely to encounter. Having support from a law firm general counsel can be a valuable asset in both the daily and periodical operations of your business
At Law Firm GC, we put a great deal of thought and intention into the services we provide each of our law firm clients. We understand that legal professionals are held to high standards and unique legal and ethical guidelines, and therefore they require the same from their outside general counsel. Our team understands what you face on a daily basis and are prepared and equipped to provide you with exceptional service to propel your law firm forward.
What is the Scope of a Law Firm General Counsel’s Role?
A law firm general counsel possesses a broad understanding of multiple areas of the law and oversees many pivotal aspects of a law firm’s legal operations, management, and ethics compliance. These areas are essential to the smooth operations of a law firm’s business, and a general counsel can advise on steps to take to prevent issues or mitigate them when they arise. Areas within the scope of a general counsel’s role include:
- Compliance: Ensures law firm compliance with applicable laws and regulations.
- Conflicts analysis: Designs and manages law firm’s processes for identifying, checking and resolving conflicts
- Crisis planning and management: Provides legal guidance and support in the event a crisis or emergency occurs.
- Ethics advice: Helps ensure that all firm attorneys and staff adhere to applicable ethics rules and regulations.
- General strategic advice: Offers legal advice on strategic decisions, mergers, acquisitions, and partnerships under consideration by the law firm.
- HR and employment issues: Manages the legal aspects of employment, such as hiring, firing, and discrimination claims.
- Insurance renewals: Oversee the application and renewal of a law firm’s various insurance policies.
- Lateral hiring and movement: Assists in the process of vetting and onboarding lateral hires and handles departures of partners and associates.
- Risk management: Helps identify and manage legal risks so law firms may avoid potential disputes and liabilities.
- Vendor contracts: Oversee contract negotiations and reviews agreements to protect the law firm’s interests and minimize legal exposure.
When you are busy serving your clients, outside general counsel can help your law firm ensure your processes are protecting you and your clients so you can continue in service to them. A law firm general counsel provides objective advice, and effective and devoted services designed to meet your own law firm’s legal needs. They can also help you while you grow and scale your firm in a way that gives you confidence and security.
Services Law Firm General Counsel Can Provide for your Firm
Law Firm GC has a wide breadth of knowledge and experience that is specific to the legal industry. As such, we can provide services for multiple areas of your law firm’s business and operations. We know that you are focused on your clients’ wellbeing, so we are here for yours. Some of the services Law Firm General Counsel can provide include:
- General business advice and counsel to law firms
- Law firm risk management
- Ethics and compliance issues
- Risk management procedures
- Client retainer agreements
- Partnership agreements
- Attorney employment agreements
- Co-counsel/referral agreements
- Lateral movement of attorneys
- Law firm breakups and law firm dissolutions
- Attorney Fee disputes with clients and other attorneys
- Law Firm succession planning
- Sudden Health Crisis Planning
- Law firm contingency planning
- Law firm compensation systems
- Buying a law practice
- Selling a law practice
- Closing a law practice
- Attorney marketing and advertising compliance review
- Conflicts of interest
- Attorney liens
We can help your firm mitigate risks at any stage. Growth can be messy and there are many restrictions that you must navigate, as well. Taking preventative measures is always the best for saving your firm significant expense and headaches in the long run. However, when an issue or need arises, we also provide you with customized counsel and representation to meet your specific situation. We look at your situation from all angles and provide a solution tailored to your firm.
Inside Versus Outside Counsel
Law firms may employ the use of inside or outside counsel to manage risks, oversee legal matters, and take planning and prevention measures. Both are beneficial, but each one provides a law firm with different advantages.
Inside counsel generally works as part of the law firm and understands its daily operations and needs. They possess inside knowledge that is specific to their law firm and are actively involved with ensuring precautionary actions are taken, managing risks and conflicts, and compliance with all applicable regulations and guidelines. Additionally, they may provide the firm with either general or specialized services.
On the other hand, outside counsel is hired by a law firm and can provide a fresh perspective on a law firm’s strengths and weaknesses. They can remain objective and may be able to apply additional knowledge and experience in a situation that could better meet a law firm’s needs. They can provide sound counsel and help reduce your workload by taking on your firm’s legal tasks.
What are the Benefits of Hiring Outside General Counsel for Your Law Firm?
There are many benefits to hiring outside general counsel for your law firm. They can provide a wider range of experiences and perspectives that can be helpful and allow your primary focus to remain on your clients. While you are busy looking out for your clients’ interest, they are looking out for yours and protecting your rights. They can also help protect your law firm’s value while you grow. Below are some of the benefits a general counsel can bring to your firm.
Outside Perspective
Seeing an issue clearly can be difficult when directly involved with it. Law firm general counsel can provide an outside perspective to identify, analyze, and advise on weaknesses or gaps your firm might face. They also have a unique vantage point during conflict resolution, as they can see both sides and can act as a neutral third party. Additionally, general counsel can provide additional experience and strategies to support your law firm.
Prevents Escalations
If your law firm or attorneys are facing a legal issue, you may be feeling a range of emotions and more likely to react. Hiring law firm general counsel to represent your firm can aid in preventing the situation from escalating and causing additional problems for your firm. While you may have the knowledge and experience to represent yourself, it is in your best interest to retain representation for your firm in these matters.
Maintain Attorney Client Privilege
While most jurisdictions recognize the attorney-client privilege for communications with a law firm’s in-house general counsel, that protection is not absolute and in practice may be inadvertently pierced or waived. With an outside general counsel, communications are more likely to remain protected.
Security
Your law firm deals with sensitive and confidential information on a regular basis, and security is vital to your business. A law firm general counsel can save you time and give you peace of mind by drafting contracts, agreements, plans, processes, and more that fit your firm’s specific needs. The stakes are high and a general counsel understands the special requirements you must adhere to, to ensure the safety and security of your team and clients’ information and assets.
Business Growth
Increasing business is important to your law firm’s growth. However, this comes with added work and additional employment-related tasks. Outside general counsel can help you handle overflow, as well as ensure that agreements, documentation, and processes are all legally sound, compliant, and fair. Their help with prevention and planning measures can strengthen your business as you move forward and continue to grow.
Dispute Resolution
Disputes happen all the time for various reasons. Conflict could arise between you and a vendor, another law firm, lawyers on your team, or even clients. General counsel can provide advice on how to proceed and mediate disputes to find solutions and resolution. They can represent and negotiate for you to reach the best outcome possible and protect your firm’s interests.
Improved Processes and Resources
The processes you have in place for your business help keep it running and operational. However, sometimes there are gaps or areas where improvements can be made to help your firm run even better. With the help of law firm general counsel, they can run risk assessments and conduct analysis to see where workflows and systems can be improved upon and provide a stronger and more efficient and effective foundation for your team.
Law Firm GC Helps Your Law Firm Do What it Does Best
At Law Firm GC, we understand that you have your hands full with serving your clients and managing the daily operations of your law firm. To reduce your stress and provide support, our team can provide you with experienced and knowledgeable counsel and solutions to ensure you are staying legally compliant, incorporating safeguards to manage risks, and growing your business. Learn more about what our team can do for you when you contact us today.