“The other part of outsourcing is this: it simply says where the work can be done outside better than it can be done inside, we should do it.” – Alphonso R. Jackson, U.S. Secretary of Housing and Urban Development in the Administration of President George W. Bush.
It is beyond any reasonable doubt the legal aspects of doing business have become extraordinarily complex in the US and across the globe.
The speed of drafting, passing and implementing laws and regulations is accelerating. And the proliferation of significant court decisions imposing new standards of care for companies is astounding. Often courts issue judgments in a vacuum, without being able to rely upon any legislation/regulations that are directly on point to control the particular issue under review.
These trends have magnified exponentially the level unpredictability confronting legal risk management strategies.
Bottom Line: Lasting damage can unexpectedly arrive at the doorstep of corporations, entrepreneurs and family office holding companies failing to keep closely updated on key legal developments relating to their scope of operations.
Many small-to-medium sized corporations and family offices have a General Counsel, Chief Legal Officer, or 1 or 2 other legal professionals acting as in-house counsel.
Research reports repeatedly confirm however that those firms routinely outsource legal tasks beyond their expertise anyway – just about each and every day.
Why then do executive management teams facing major risks keep the supervision and control of legal challenges inside their company?
Why maintain all the resulting overhead costs while also paying outside legal fees routinely?
For over 25 years, client corporations, startups, family offices and entrepreneurs have relied upon HLS Attorneys’ legal professionals to serve as Outside General Counsel. Several of these attorneys have actually held General Counsel/Chief Legal Officer positions in the past. These clients immediately reaped the rewards of their decision to retain HLS Attorneys:
- Working daily with outside attorneys having a passion to immerse themselves in the client’s business sector, daily operations, strategic objectives and budgetary constraints.
- Receiving highest quality legal services, just as would be received from any in-house Legal Department which timely resolve all legal issues confronting their business operations.
- Benefitting from the attorneys’ availability – on a 24/7 basis – when meeting client’s work product deadlines and conducting teleconferences and e-mails/SMS/WhatsApp exchanges.
The Association of Corporate Counsel’s 2018 survey of Chief Legal Officers found that 33% of CLOs will increase the amount of work they send to outside law firms in 2018*. Will your legal needs for 2018 and beyond be solved by outsourcing all of your legal needs?
To determine how HLS Attorneys can benefit your organization by acting as Outside General Counsel, e-mail us HERE.
*Source: ACC Outsource Result