All businesses, whether a young startup, a small enterprise or a multi-national corporate require assistance when it comes to the legal side. Handling the legal matters of a business is no child’s play and requires expertise and years of experience in the field to understand the unique requirements of the business. Hiring a virtual general counsel is the latest trend and businesses are choosing this alternative that gives that more options for lesser money.
The traditional ways of managing a business’s legal matters encompass hiring a lawyer as a full-time employee or hiring a team of multiple lawyers/law firms. Hiring a traditional law firm that charges by the hour involve uncertainty of costs and resources as there is no standardisation of fees beforehand. A small business may not be able to handle the lengthy bills that a law firm may generate for handling even a small legal matter.
A lawyer as the business’s full-time employee can also cost the business heavily. A full-time employee would also require employment benefits, severance allowance, increments, bonuses, etc., which a small business may not be able to afford in its initial years when it requires legal support the most.
Hiring a lawyer as an employee also limits the business’s options as the lawyer may specialise in one field out of the many it requires. The business may end up hiring a law firm to get its other matters handled that are beyond the employer’s area of practice.
What is a Virtual General Counsel (VGC)?
Virtual General Counsel (VGC) is a legal expert or generally, a team of legal experts who can handle all the legal requirements of a business, whether it entails documentation, litigation, licensing, registration, employment disputes, compliances, etc. A virtual GC is like an outsourced legal counsel who can provide the complete legal solution to the business at a fraction of the cost that traditional law firms charge.
A virtual legal counsel provides a unique legal services model by presenting its services on demand of the business. Legal teams that provide virtual legal services work on a fixed-fee basis for the period the business requires their services.
Outsourcing legal services to a team of subject-matter experts are highly beneficial for the business as a small business is able to afford the same quality of services that law firms provide at much higher costs.
LetsComply not only acts as the Virtual General Counsel for businesses across India and numerous businesses overseas but also act as the Virtual Chief Finance Officer (VCFO) and helps with A-to-Z legal, financial and taxation requirements.
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When it comes to virtual legal services, businesses can avail legal services for all domains- from Business registration and licensing in India, to Intellectual Property Rights management, to Consumer Dispute Redressal, to Anti-Dumping matters, to business documentation and compliances.
With a virtual legal counsel, businesses have an entire team of legal experts at their disposal to get the best solution for their legal requirements round the clock! Companies do not need to search for reliable and trustworthy lawyers as they have a team of lawyers whom they can trust and rely on for accurate and efficient legal management of their business.
Foreign businesses who are looking to set up a holding in India can also benefit from hiring a virtual legal counsel who can help them with the complete market research, help them with the business registration, contacts with legal vendors and provide an end-to-end India Entry Strategy.
Want LetsComply to work as your Virtual General Counsel? Call us at +91-9717070500 or send an email at firstname.lastname@example.org to talk to our experts today!