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4 Myths About General Counsel Services- and the Truth in Each Case!

There are a lot of business owners who think they don’t need general counsel services. In some cases they don’t understand the benefits while in others, they subscribe to certain misconceptions about what general counsel does. These misunderstandings can cost the company -and its owner(s) a lot of time, money, and stress if legal challenges arise later on.

Here are four common myths and misconceptions about general counsel services, as well as the benefits of having a reliable attorney on hand to deal with routine business needs and problems. As you can see from the examples below, engaging counsel now can spare you the time and expense of litigation later on.

Myth No. 1: There Have Never Been Any Legal Issues, So General Counsel Is Unnecessary

Perhaps your company is one of the lucky few that has never been sued by an injured customer, disgruntled ex-employee, or hostile former partner. That doesn’t mean it never will be, and if it does happen, it’s better to have a business lawyer on hand that you know and trust. Additionally, general counsel can ensure that routine legal matters, such as contracts, acquisitions, and mergers, are handled correctly.

Myth No. 2: Your Business Is Too Small To Need a Lawyer

As a small business owner, you may decide to handle any legal issues on your own to save money. However, when you draft your own contracts and business agreements using templates found online, chances are that they won’t stand up in court later. Having a general counsel handle all legal matters provides a level of protection that can save the company money in the long run.

Myth No. 3: Legal Services Are Too Expensive

While general counsel services are not cheap, they are a lot less expensive than extended litigation caused by poorly drafted contracts or spite-drivendisputes. A lawyer can help you mitigate risks and prevent legal issues before they arise.

Myth No. 4: You Can Easily Hire a Lawyer When You Get Sued

In a time of legal crisis, finding the right lawyer is actually harder. A general counsel attorney who understands your business and its operations will provide the right advice in difficult situations and take preventative measures to reduce the likelihood of costly litigation and conflict.

Conclusion

Although it may not be feasible for every company to have an in-house legal team, general counsel services are a recommended resource for any business, especially startups. For example:

Outside general counsel can provide legal advice on employment law at a fraction of the cost of a traditional law firm.
Outsourcing general counsel can be an excellent option if you need help interpreting contracts or drafting and reviewing agreements for third parties. Even if you only need their services occasionally, you’ve built a relationship that can support you through more critical situations in the future.

Questions? Call the Florida Small Business Legal Center at 1-866-842-5202 to schedule a consultation and learn more about how a general counsel attorney can protect your company and give you peace of mind.