Growth is critical for every firm, and it comes with more responsibilities. Once your firm attains a specific size, you will need to enhance certain attributes of your firm. One such action towards that would be hiring an in-house lawyer. Sometimes it is set on by worries about the price of outside legal help.
Another common reason is the changing nature of the legal system in the United States. When the complications you experience with the legal system combine with the soaring costs of outside legal help, you start to ask if an in-house attorney for the same price is all you need.
This blog post will show why hiring an in-house attorney is wise. But first, who is an in-house attorney?
Who is an In-House Attorney?
A report shows that in-house legal demand has expanded in size and impact. It is due to the business expectations that have evolved.
An in-house attorney is in charge of legal issues about their employer’s firm. They are also concerned about legal matters of other firms to which their employer belongs.
The main goal of an in-house lawyer is to provide legal counsel to their employer, which is a part of the larger business plan of aiding the firm’s growth. So, it entails assessing the firm’s devotion to moral and legal requirements.
Before doing this, they look at ways the firm may handle legal risks while still operating within the law. As a result, it permits the firm to boost its effectiveness in legal manners. In-house attorneys play a vital role in the success of the firm. Also, they serve as the second line of auto accident lawyers chicago.
Below are some of the reasons why you need an in-house lawyer.
1. Risk Management
An in-house lawyer considers the risks and lets the firm know about them. They make deals as risk-free as possible while aiding the firm in improving its legal and commercial position.
In the United States, owning a firm in a good location like California is a good choice. Let’s say a Costa Meca company uses cars to deliver products; then car accidents are a risk to look out for. Take a look at Costa Mesa city data, and you’ll see car accidents are common in every part of the world. Both the firm and the employees could suffer if such happens.
So, having an in-house Costa Mesa car accident attorney is vital to ensure both parties get the best compensation. More so, for the one that is not your driver’s fault. The Costa Mesa car accident attorney can use that to your firm’s benefit.
An in-house attorney creates lasting and trusted ties with each staff member. First, it is to ensure they can rely on you when in need. Also, they assist with tricky contracts.
2. Commercial Value
An in-house attorney often offers commercial advice. They advise on corporate operations, including creating and signing business contracts. They also review contract deals and can do it much faster and better than employees from another department. As a result, they achieve a good sales impact because they know your firm.
During a corporate deal, an in-house lawyer will supervise foreign corporate lawyers, leaving firm directors to focus on the business aspects.
Other commercial duties of an in-house lawyer are:
- They manage the firm’s pension and insurance plans.
- They perform corporate office work.
- They also manage real estate and other contract litigation issues.
- They provide hiring advice.
3. Save Costs
You need an in-house attorney because they help your firm save money. A firm often decides to engage an in-house attorney when the ROI and cost benefits are worth it. You can escape the cost of hiring an outside lawyer when you often need the services of a lawyer.
An in-house attorney will reduce any extra outsourcing cost, notably in their area of expertise. In sectors that still help, such as litigation, your in-house lawyer can control the external costs. They can also engage with outside lawyers that are good in that sector.
They are better aware of the costs, which gives them an edge to handle the situation more effectively.
4. Saves Time
In-house attorneys strive to reach the firm’s goals as fast as possible. A good in-house lawyer is by nature commercial and will have a foot in both camps. They will weigh the risks while keeping the firm’s goals in mind. Doing this will enable a quick response.
There is a saying, “Time is money,” and it’s true. The response time is slow when an outside lawyer reviews and handles a deal to send it back to the firm. But when handled by your in-house lawyer, the response time will be faster. When closing deals, time and speed are crucial to your firm’s success in a cutthroat market.
5. Emphasize Your Firm’s Key Objectives
An in-house lawyer will be more aware of the product, the job, the people, and the goal than any outside attorney. Thus, you need a lawyer that makes your firm their only priority. Also, the lawyer should be able to devote all their time and expertise to your firm.
The in-house attorney will always function with the firm’s primary goals in mind. They will ensure that talks and deals go smoothly and with a better understanding than any outside attorney. An in-house lawyer will also see issues that an outside lawyer may overlook. It is easier for them due to their excellent grasp of the situation.
6. Handle Personal Injury Cases for Your Firm
An in-house attorney can also handle personal injury cases for your firm and employees. A lawyer specializing in personal injury can handle a variety of cases, some of which are:
- Car accidents,
- Pedestrian accidents,
- Slip and fall accidents,
- Severe injury claims like spinal cord and brain injuries,
- Transportation accidents, and
- Insurance claims.
The attorney can save you from unfair personal injury cases that spring from your place of business. A personal injury lawyer helps clients make informed decisions to provide a favorable outcome.
Personal injury attorneys are exceptionally good negotiators and can offer their clients faster compensation.
Bottom Line
You and your firm need lawyers who will be loyal. They also have to do things in ways that will help the firm and follow the law. You need a lawyer to tell you what to do rather than why it is impossible.
In-house lawyers can overcome barriers to reach your goal and that of your firm. Also, they are ready to lead you through any legal maze.
Yes, most lawyers only take care of legalities, but an in-house lawyer handles business too. For the reasons stated above, do not hesitate to seek the help of an in-house lawyer.