It can be challenging to know whether you need an in-house legal team for your business. It will depend on the size of your operation as well as the resources available to you as a business. Certain industries are also prone to incidents that will require more expert legal advice from a legal consultancy firm.
Here are four ways to tell if you are working with an expert in-house legal team and whether you need to bulk out your expertise.
They forecast future Issues for your business
To succeed in business you need to be proactive, not reactive. If you are paying a lot of money for an in-house legal team it is essential that they predict and prepare for future complications to your business. This will help minimise fluctuations in your businesses cycles and keep profits as healthy as they can be.
They are on hand to answer your calls
Lack of proper communication can threaten the smooth operation of any business. It can be especially damaging in the legal world where opportunities to gain money from painful lawsuits are quickly pounced on. An in-house legal team working to the best of their ability will be quick to deal and process any concerns you have about your businesses legal position.
You have the correct delegation for your business
This will vary depending on which industry your business operates in. If your business is widespread with many different departments then having an in-house legal team who focus on the different aspects will make sure your business is covered on all fronts. This will save your business both time and money as you can seek less outside counsel.
You have good training programmes and career developments
One criticism often levelled at in-house legal teams is the lack of professional development they have compared to firms. If you make sure your in-house team has a strong training programme you will be able to attract the best newly qualified lawyers to your business.
If you are in doubt as to whether your legal team is providing the best in-house counsel for the wider business, contact several companies to discuss what they can offer you in terms of assistance and then compare this to what you already have in place.