A regular and standard difficulty that most of the business teams face across the world is inadequate support from the in – house legal departments and compliance teams, for the same reason, many companies require a general legal advice and ad hoc legal assistance as part of their day to day operations. In – house legal teams struggle to streamline and/or maintain legal and compliance functions, to respond all the queries of the business team within the stipulated time period is really tough. The legal team is responsible for many issues such as to liaison with all the advocates across India to update the case records, or communication in any legal matters, or for any legal opinions, contract drafting and reviewing, legal analysis of the documents, vetting of various documents, simply providing general advice and transactional support, etc. Letscomply team provides you the best virtual in – house Counsel support services.
We understand the present scenario, large companies or MNC can afford to employ legal staff to manage or decrease legal risks to their companies, to follow all compliances properly, whereas small and medium businesses deserve easy, efficient, and convenient access to quality legal advice. So, small and medium businesses can now choose to manage their legal affairs similarly with Virtual In-House Counsel. Large companies also some times will not have sufficient in – house lawyers, in such cases companies can approach virtual in – house Counsel for all kind of support services.
In–House Legal Support Services Customized to Your Needs:
LetsComply provides you the customized legal support services as per your requirements.
How can a company afford an In-House Attorney?
Hiring a full-time In-House attorney will be expensive for a company including benefits and overhead costs. Only few large companies can afford to establish full- fledge in house legal departments, all other companies may not afford it. Particularly, small companies justify that expense; majority of the companies would still require hiring specialized attorneys from outside to supplement the work and also for litigation matters.
The best solution for the companies to minimize the cost is Virtual In-House Counsel. This service will offer a fixed support package on an ongoing basis; these services will set legal services per month for a fixed fee, which is substantially lower than the cost of an in-house attorney.
Will a Virtual attorney be able to support your business?
A good Virtual In-House Attorney definitely able to support your business requirements. The company may provide proper training to the attorneys for the work to be provided based on their requirements. The relationship is based on fit with your business and can deliver the full value of in-house legal personnel. To be effective, Virtual In-House Counsel should be business focused, strong, and technology savvy. Virtual In house counsel shall recruit experience attorney’s, who are expertise in commercial contracts, intellectual property, corporate or/ and employment law, legal research, etc and experience in relevant with your industry is preferable, it is extremely valuable. Finally, it is very important to be that those attorneys need to be friendly, supportive and co-operative in dealing with any legal work.
Do you require a Virtual In-House Counsel?
General Counsel are always senior attorneys that guide strategic decision making and proper management of the business. The Virtual In-House Counsel before filling this role requires a high level of trust and respect from all other members of the executive team. Virtual General Counsel may make sense if your business model involves strategic legal issues. A virtual General Counsel can solve your problem by providing efficient services in effective manner.
Companies can easily access the services of virtual in – house counsel, proactively manage issues before they arise, utilize the services to the extent required, save your time and money. Virtual General Counsel can also source and deliver key specialist legal advice if and when you require, just as in-house general counsel of Company. In this case, Companies can only pay for what they actually need. This will reduce the financial burden on the companies; this will be less than the cost of employment, significantly cheaper and more effective.
WHAT SERVICES DOES A VIRTUAL IN-HOUSE COUNSEL PROVIDE?
LetsComply provides you legal services for a fixed fee per month, which is substantially lower than the cost of an in house attorney. With a fixed monthly rate for legal services, clients are better able to budget accordingly just like they do for rent, insurance, and other fixed expenses. The fixed cost allows you to consult with an attorney for simple matters or at the onset of more complex legal matters. LetsComply team would follow a systematic approach of implementing the processes along with its upstream and downstream linkages before transitioning the work to an offshore location. We ensure that our service levels will be in accordance to your requirements and based on agreed terms and also at your convenience.
The following types of activities may be considered as a part of Virtual In-House Counsel support services:
- Review, drafting and vetting of various types of commercial contracts;
- Contract reviews and terms of trade reviews;
- Support to business development and sales activities;
- Reviewing and analyzing documents pre and post closure of transactions.
- Summarizing template driven contracts for various portfolio companies;
- Drafting of template contracts for corporate companies;
- Conducting statutory and case law research using industry-standard databases on a need basis;
- Tenders / RFP support;
- Contract drafting; Contract review, Redlining and Negotiation;
- Contract vetting;
- Legal Opinions;
- Dispute resolution, litigation support / management and claims preparation;
- External Legal Counsel management;
- Compliance reviews;
- Legal risk management;
- Due diligence activities;
- Policy reviews; Debt recovery;
- Training on legal issues and legal risks;
- Non Disclosure Agreements;
- Analysis of documents and legal research;
- General legal advice across a variety of topics including trade practices / consumer law, privacy, employment, contracts, licensing and compliance requirements, personal properties securities act, loans and procurement, advice to Directors and senior management on legal duties, etc.
The work is generally conducted remotely (i.e., in our office) and we always provide full time response to e-mail, phone, chat or any inquiries. Basing on our understanding or requirement, we can have a site visit once a month, weekly or monthly update of tracking report on work status, monthly or quarterly review meeting depending on the requirement. Letscomply can provide maintenance of in-house document repositories, policies, and processes for self help. However, such as briefings, reviews and training would be conducted on either of the premise as required.