Why Retain Outside General Counsel?
Businesses from startup to very large privately-held companies most often elect not to have in-house counsel due to cost, the challenges of managing legal matters in-house and the fact that most companies discover: since in-house counsel does not have all of the expertise needed for the business, they still need to use outside counsel for many legal matters. Yet, the need for a single source comprehensive legal advice and oversight is critical to the success of many businesses.
Kupfer & Associates has the breadth of knowledge required so that our clients rely on us as their “outside general counsel”. We provide them the peace of mind that comes with knowing that all aspects of their business are taken into account with the review of each matter or transaction.
The importance of retained general counsel
Consider this example. Kupfer & Associates represented a client that was being threatened with litigation from a founding shareholder. Examination of the facts clearly indicated that they were in a strong position and were justified in all actions that had been taken. A litigator would likely review this case and properly advise fighting the case, being quite certain the client would prevail in any court action.
However, serving as outside general counsel we knew the client’s overall business objectives included growing the company and raising funds from outside investors. So we posed this question: “Is it worth putting your growth plans on hold to fight this action? Because revealing that you are in a dispute with a founding shareholder will severely hamper your ability to raise funds for several years until this gets resolved. Have you considered resolving the matter with an offer, even leaving money on the table that is rightly yours, in favor of pursuing the larger vision for your company?”
Ultimately the decision is always in the hands of the client. But, without the benefit of being involved in this client’s overall business, that question likely would never have been raised by a hired litigator who was simply asked to handle the dispute in a vacuum.
Whether your plans involve long term growth or a planned exit strategy, we invite you to contact our attorneys to learn more about how Kupfer & Associates can support your business strategies to accomplish your objectives.