Are you a founder looking for a cost-effective way to get top-tier legal expertise for your business? Fractional legal counsel may be the answer. Like fractional CFOs and CMOs, fractional legal counsel offers sophisticated, embedded expertise flexibly and cost-effectively. This is perfect for start-ups, scale-ups, and mid-market companies looking for a more efficient way to get the legal support they need, as well as for short-term projects such as product launches or compliance reviews.
There are several benefits to using fractional legal counsel. Firstly, you’ll build a trusted business relationship for the medium- to long-term. Unlike ad hoc support from a conventional firm, fractional legal counsel creates a recurring business relationship and becomes an expert in your business, providing actionable and nuanced legal advice that supports better business decisions. They also help improve internal operations and strategy by proactively managing tasks and risks before issues arise. In some cases, fractional legal counsel even replaces the senior law firm partner as the CEO’s primary counsellor, becoming a core member of management and participating in decisions and actions about both law and business.
But the benefits don’t stop there. The Great Resignation has been keenly felt in the legal sector, leading to top-tier legal experts leaving traditional law firms and looking for alternative engagements and fractional roles. This is great news for start-ups and scale-ups, especially those in regulated industries, as senior legal expertise and guidance are essential to long-term success.
It is easier than ever to find the ideal fractional legal counsel candidate with strong technical legal training, experience working with successful organizations in your industry, and years of practice operating in a practical, business-minded way.
But perhaps the biggest benefit of fractional legal counsel is cost efficiency and transparency. It’s easy for executive teams to lose track of external legal engagements and fees, but with fractional legal counsel, you’ll have a clear understanding of the time and resources being spent on your legal matters. Plus, you’ll have the flexibility to scale your legal support up or down as your business needs change.
So don’t let the high cost of traditional law firms hold you back from getting the legal expertise your business needs. Consider hiring a fractional legal counsel to provide top-tier, cost-effective legal support for your business. To learn more, google Goodlawyer Fractional Counsel or send me a note on LinkedIn. Happy Holidays and best wishes for a productive and impactful 2023!
Brett Colvin
Co-founder & CEO, Goodlawyer
Brett Colvin is Goodlawyer’s Co-founder and CEO. Brett has overseen Goodlawyer’s growth from inception to a 25-person team. Brett was a corporate lawyer for 4+ years, and he experienced firsthand that most business owners can’t afford the legal help they need. So, he quit the big firm, teamed up with a developer and a designer, and got to work on building something better. Brett has a Juris Doctor (JD), Law, with Distinction from the University of Alberta (2015).
