The Rise of Fractional General Counsel: A Cost-Effective Solution for Businesses

In today's fast-paced business world, companies face numerous legal challenges that require expert guidance. However, not every business can afford to have an in-house legal department or hire a full-time general counsel. This is where the concept of a fractional general counsel (GC) comes into play.

Fractional GCs are experienced legal professionals who work with companies on a part-time basis, providing strategic legal advice and support. They can be hired on an hourly or subscription basis, making them a cost-effective alternative for businesses that do not require a full-time lawyer.

The idea of fractional GCs is not entirely new. We have seen a similar trend with other C-suite positions, such as fractional CFOs, CHROs, CTOs, and CMOs. Fractional GCs, as a discipline, are an evolution of the legal services that lawyers already provide to their clients. They go beyond traditional legal counsel by embedding themselves in the client's business as a member of the senior leadership team.

By working closely with the leadership team, fractional GCs gain a deeper understanding of the business's operations, goals, and challenges. This enables them to provide tailored legal advice that aligns with the company's objectives. They can assist with contract negotiations, compliance matters, intellectual property protection, and other legal issues that arise during the company's growth and development.

The benefits of hiring a fractional GC are manifold. Firstly, it allows businesses to access high-quality legal expertise without the cost of hiring a full-time employee. Secondly, fractional GCs bring a fresh perspective and a wealth of experience from working with multiple clients across different industries. This diverse background enables them to offer innovative solutions to complex legal problems.

Fractional GCs provide consistent support to the leadership team, ensuring that legal matters are addressed promptly and effectively. They become strategic partners, helping businesses navigate legal complexities and minimize risks.

In conclusion, the rise of fractional GCs is a logical and cost-effective solution for businesses that require legal support but do not need a full-time in-house lawyer. It allows companies to access specialized legal expertise, gain a competitive advantage, and mitigate legal risks. So, if you're a business owner or part of the leadership team, consider the benefits that a fractional GC can bring to your company's legal strategy and operations.