One of the most important parts of running any business, no matter how big or small is making sure that you are always following the rules and staying compliant with local, state, and federal laws. But while it might be tempting to hire an outside law firm to keep you updated on your legal rights, there are significant advantages to having an in-house legal department for your business.
Your business can never be too prepared, and this especially applies to your legal department. A good in-house legal department will offer a full range of services to your business, from helping you comply with government regulations to ensuring that your business can meet its contract obligations.
Legal Department Solutions can also provide valuable protection in the event that your company is sued or your intellectual property is misappropriated – After all, who knows the details of your company better than the people who work there every day?
Having your own legal department has many advantages over relying on external services from law firms and other providers, not the least of which is the cost savings.
If you have a legal department, your business will be able to save time and money by handling their own legal matters without having to pay outside law firms or paying exorbitant fees to handle things like contracts between businesses and clients or employers and employees.
Here’s what you need to know to determine if it makes sense to invest in Legal Department Solutions.
Save Money
The costs associated with working with outside legal counsel can be considerable, especially for businesses that need the expertise of an attorney regularly. But having your own legal department will save you money. This is because the company will not be paying for the overhead or administrative costs of hiring a third party to handle legal matters. They will also save money by not having to keep a legal team on retainer because they'll only need them when it's necessary.
Instead of paying someone else to handle your legal issues, why not hire your own legal department?
Build Confidence
Having your own in-house business attorney is a great way to build confidence in your company.
The small investment you make in a lawyer will pay off in the long run, with the peace of mind that comes from knowing that you have someone on hand who knows your company and its risks. For example, if you find out that your product infringes on someone else's patent, you'll want to be able to talk with a lawyer about how to proceed.
There are many other benefits as well, including reducing risk and having better understanding of contracts and legal issues before they arise.
Protect Reputation
Protecting your reputation is a key concern for any business. That's why it's important to not only hire a business lawyer, but also hire one who is always available.
The in-house legal department can work directly with the rest of the company, has more knowledge about how the organization works, and can better identify potential risks and issues that might arise before they happen.
Better Communication
Having your in-house legal department can help you communicate with them in the same way you would a business lawyer. You will be more informed about what is going on with your company and it will be easier to have that conversation when you need to because they are right there with you.
Plus, if they are also your company's HR department then they can also help with any questions or concerns that may come up there as well.
More Loyal Employees
Your employees will feel more loyalty to you because they know that their jobs are safe. Your company's legal needs will be met by professionals who are interested in the company and know the ins and outs of the company’s dealings with its employees.
Having a lawyer on call allows for more flexibility with other positions because the responsibility is handled internally and does not require bringing on outside counsel.
Free Up Resources
One of the greatest advantages to having an in-house legal team is that you can free up valuable resources.
For example, it may take your business weeks or even months to find a lawyer who can do the type of work you need. And, by that time, the problem at hand could have gone away or become much more complex than anticipated. Not only does this pose a risk to your business' success, but it also takes time and money away from other projects that need attention.
Furthermore, if you're looking for someone with specific skills, such as trademark registration or intellectual property law – finding this person on short notice isn't likely.
Minimize Stress
When you have your own legal department, you can minimize the stress related to issues that may arise. An in-house legal team can help maintain your company's reputation and avoid costly fines or lawsuits.
With a team on call, you won't have to worry about finding time to go over every issue that arises because they will be there to handle it.
Reduce Risk
Having a legal department is one way to limit your business risks. From the moment your business is created, our Miami business attorneys at Legal Department Solutions will help ensure you have contracts with all employees and vendors, register copyrights and trademarks, obtain trademark protection and more. Plus, our lawyers specialize in helping businesses resolve disputes with third parties, manage litigation and defend against claims made by employees or even competitors.
So if you're looking for a legal department to help you streamline operations so that you can focus on what's important — running your company — then call 305.777.0377 or visit our website @legaldepartmentsolutions.com today!
