What is Fractional General Counsel and How Can It Benefit Your Business

As a business owner, you know that having a general counsel on your team can be a game-changer. But what if you could have access to the expertise of a general counsel without the high costs and overhead that come with hiring a full-time lawyer?

Fractional general counsel is a relatively new concept that is gaining popularity among businesses of all sizes. In this article, we'll explore what fractional general counsel is, how it works, and the benefits it can bring to your business.

What is Fractional General Counsel?

Fractional general counsel is a type of legal services arrangement where a business hires a lawyer on a part-time or project-based basis. This means that the lawyer is not a full-time employee of the business, but rather a contractor who provides legal services on an as-needed basis.

The fractional general counsel model is often used by businesses that need legal advice or representation on a regular basis, but don't have the budget or resources to hire a full-time lawyer. It's also a good option for businesses that need legal expertise for a specific project or initiative, but don't need a full-time lawyer on staff.

How Does Fractional General Counsel Work?

When you hire a fractional general counsel, you'll work with a lawyer who has expertise in your industry or area of law. The lawyer will work with you to understand your business goals and objectives, and will provide legal advice and guidance to help you achieve those goals.

The fractional general counsel will typically work on a retainer basis, which means that you'll pay a fixed fee for a set amount of time or services. This can be a more cost-effective option than hiring a full-time lawyer, especially if you only need legal services on an occasional basis.

Benefits of Fractional General Counsel

There are many benefits to hiring a fractional general counsel, including:

• Cost savings: Fractional general counsel can be a more cost-effective option than hiring a full-time lawyer.

• Flexibility: You can hire a fractional general counsel on a part-time or project-based basis, which gives you more flexibility in terms of how you use their services.

• Expertise: Fractional general counsel have expertise in your industry or area of law, which means they can provide you with valuable insights and guidance.

• Scalability: Fractional general counsel can scale up or down as your business needs change, which means you won't be stuck with a full-time lawyer who is no longer needed.

• Reduced risk: By hiring a fractional general counsel, you can reduce your risk of legal malpractice or other legal issues.

Conclusion

Fractional general counsel is a relatively new concept that is gaining popularity among businesses of all sizes. By hiring a fractional general counsel, you can get access to the expertise of a general counsel without the high costs and overhead that come with hiring a full-time lawyer. Whether you're a small business owner or a large corporation, fractional general counsel can be a valuable addition to your team.