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If you own and operate a cigar business, you’ve probably had a situation that required — or, in hindsight, could have benefited from — the services of an attorney. Many cigar businesses can get away with just retaining legal services as needed, but for others, it makes sense to keep a lawyer on call at all times. For them, fractional general counsel and in-house general counsel are likely the best options.
What Is Fractional General Counsel?
Fractional general counsel (FGC) is an attorney who works for a client on a part-time or as-needed basis. An FGC is not an employee of the client, but is instead an independent contractor. This means that they can handle legal matters for multiple clients.
What Is In-House General Counsel?
In-house general counsel is an attorney who’s the employee of their client and handles only that business’ legal matters. Because they’re an employee, in-house general counsel will usually receive a salary and the same benefits the other employees receive.
Which Is Better for My Cigar Business?
It depends on your budget and legal needs. For example, if you find you’re consistently and frequently facing legal questions about local ordinances or state laws relating to tobacco sales or business transactions that need review, or your cigar business is frequently involved in litigation, it might make sense to hire an in-house counsel, assuming you can afford to do so.
If, on the other hand, your cigar business only needs an attorney every once in a while or your legal concerns are relatively small and quickly resolved, it probably makes more sense to hire a FGC. The biggest benefit of an FGC is the cost savings, as you’ll only pay them when you need them. In contrast, in-house counsel receives their salary and benefits even when your cigar business’ legal needs are light.
There are drawbacks to retaining an FGC, however. One in particular is the fact your FGC will likely have other clients. When you contact them with a legal issue, there’s a chance they can’t respond as quickly as if they were an in-house attorney for your cigar business.
If your cigar business could benefit from having an on-call attorney to handle its legal needs, consider Venerable Law. Contact us at 813-680-4530 and we’ll be more than happy to discuss the possibility of serving as your fractional general counsel.
