Most business owners understand the value of having experienced legal representation. However, many companies might not understand if and when they should retain the services of outside general counsel.
Outside general counsel can serve as vital advisor, guiding companies through the many crucial decisions they are faced with. By utilizing outside general counsel, companies can rest assured that they have an attorney who will help them make better strategic decisions and avoid many legal pitfalls.
We wanted to share some of the important reasons why business owners, company executives and board members can substantially benefit from a great Arizona General Counsel and the kind of services they can provide.
What is an Arizona General Counsel Attorney?
An Arizona general counsel attorney is a legal professional that specializes in general counsel representation and can offer many valuable services to business owners and company executives.
Arizona general counsel lawyers start with a broad understanding of the operations and goals for their client’s business. They need to know the products or services offered by the business and practices being utilized for every aspect of the operation.
All parts of the business that involve contracts or agreements are areas where a general counsel can assist, but they are not just focused on drafting and redlining contracts. An experienced general counsel lawyer will play a vital role in understanding potential business strategies, partnerships, sales opportunities, employment decisions, and more.
Services of an Outside General Counsel Lawyer in Arizona
Even if your business already has in-house general counsel, working closely with a great outside general counsel helps a business understand potential legal consequences or challenges before making key decisions or taking major actions.
One of the main benefits of an outside general counsel comes from being outside the day-to-day operations of company employees. This allows for a fresh and different perspective on many important matters. For companies that cannot afford a full time in-house general counsel, working with an outside general counsel on specific needs is a cost-effective solution as well.
An effective outside general counsel becomes a sounding board and key advisor to make sure that all the legal aspects of business practices and decisions are adequately considered on a regular basis. There are many key areas where the services of an Arizona outside general counsel attorney can significantly help a business with operations in the state. Here are some of the most important services:
- Draft and review any commercial contracts and partnership agreements
- Assistance with governance documents like operating agreements and bylaws
- Assistance and preparation of required governmental filings
- Investment strategies and structures
- Shareholder relations and meeting management
- Education and review of fiduciary duties for executives and board members
- Employment strategies and contracts
- Strategies and execution of executive compensation
- Alternative dispute resolution and litigation
- Contract negotiations
- Real estate strategies for leasing and purchasing
- Entity formation and changes
While these services provide an overview of where an outside general counsel can help your business, they vary with each business and this list certainly is not all-encompassing.
Some businesses might need an outside general counsel to help with specific initiatives like an upcoming capital raise or major transaction, while others look to an outside general counsel for regular input in the business.
One of the best parts about working with a law firm that provides outside general counsel services is they can be used as often or infrequently as needed. Although any experienced outside general counsel will recommend regular legal reviews of all the key components of your business.
Benefits of Periodic Legal Reviews with Outside General Counsel
Most business owners struggle to find enough time to keep up with everything needed just to keep their business running. It can be tempting to think that legal reviews are just one more thing that you will get to when the need arises. Unfortunately, this can leave many businesses at risk of legal issues and lawsuits.
A quarterly, or even yearly, review of your entire business can save business owners and executives significant time and money down the road. The number one reason to consider working with an outside general counsel to perform routine reviews of your business is being able to proactively fix potential problems before they occur and become costly legal issues.
Work with a Leading Arizona Law Firm for Outside General Counsel Services
The attorneys at M&G Law have significant experience working with all types of businesses in Arizona. Our firm can review your business operations, contracts, services and strategic initiatives to determine the best ways to assist in accomplishing those goals.
Whether your company needs specialized legal counsel on a specific matter, or if you are looking for a long-term partner focused on your path to success, M&G Law can provide excellent outside general counsel services tailored to your needs. Contact us today at 602-562-7218 to schedule an initial consultation or make an appointment online.