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Why Should a Startup Have Fractional General Counsel?

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If you are contemplating starting or already in business, you need legal representation to protect your investment. However, most entrepreneurs and new businesses find it challenging to afford in-house counsel.

As a result, many business owners choose to have fractional general counsel (FGC) who is familiar with the business but a much more affordable legal option.

If you want to hear more about the legal services we can provide for your new or small business, contact our law offices to schedule a free initial consultation with our experienced lawyer. A qualified legal team member will gladly meet with you to address your concerns.

What is Fractional General Counsel?

A fractional general counsel provides legal advice to any business or organization that hires them. However, unlike in-house counsel, a fractional general counsel is not considered a company employee. Like any legal representative, a fractional general counsel provides advice on how to solve problems as they arise.

A lawyer acting as FGC only provides legal services to the business that hires them. Additionally, they may also provide legal representation to other businesses simultaneously.

Lawyers acting as fractional general counsel can advise businesses on a variety of legal issues, including:

  • Employee contracts
  • Business partnership contracts
  • Employment litigation issues
  • Workers’ compensation cases
  • Payroll dispute issues.

If you have questions about what a fractional general counsel can provide for your business, contact our law firm and ask to schedule a meeting with our qualified attorney.

What is the Difference Between Traditional In-House and Fractional General Counsel?

The most notable difference between traditional in-house counsel and fractional general counsel is that the FGC is not a company employee. Unlike company employees who are on the payroll and typically receive benefits, an FGC is more like an independent contractor who works for the business when needed.

Over the years, businesses have discovered that it is more cost-effective to hire FCG. A fractional general counsel can handle the same legal issues as in-house counsel but for a much lower cost. For most startup businesses, saving money is vital to the success of their organizations.

What are the Advantages of Having a Fractional General Counsel in a Startup?

Although there are several advantages of having fractional general counsel to represent your business, the main advantage is affordability. Unlike in-house counsel, which is contractually obligated to the business, fractional general counsel is typically paid on a case-by-case basis.

Some other significant advantages associated with hiring fractional general counsel for business needs include:

  • Oversee operations and legal issues associated with the business.
  • Identify potential areas of concern before they can become more significant issues.
  • Maintain compliance with all state and federal regulations.
  • Access to legal services with an attorney who understands the inner workings of the business.

Additionally, legal representatives who act as fractional general counsel typically have vast experience with various legal issues. In the beginning, many startups encounter legal matters that require a great deal of skill to resolve quickly so the business can grow and thrive.

Why is Your Law Firm the Best Choice to Help My New Business Succeed?

Our law firm is dedicated to giving startup businesses the ability to have quality legal representation at a fraction of the cost of in-house counsel. Allow our legal team to assist you with your new business’s legal needs and have the peace of mind you deserve.

Our law firm has in-depth experience handling business legal issues, especially for startup companies. When you choose us for your legal needs, you gain a lawyer capable of advising businesses for over 24 years.

Our business attorney can ensure you choose the proper business formation to avoid future legal issues. For example, choosing the wrong business structure can open your business to personal liability.

Furthermore, we can review potential partnership agreements, help draft employee contracts, and help write employee policies and handbooks. No matter what your business legal needs may be, our law firm can ensure that your needs are met in a timely manner.

If you would like more information about the legal services a fractional general counsel can provide to your startup business, contact Venerable Law at our Tampa Bay law offices by calling 813-680-4530 and ask to schedule a free no-obligation consultation today.

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