Reasons Companies Hire General Counsel

Posted on: March 16, 2016 by Huntersure

The decision to hire in-house general counsel is one that requires plenty of planning and preparation. While these lawyers seek to reduce and manage the company’s risk, they need to be equipped with a comprehensive Lawyer Professional Liability policy. Here are some of the following reasons that corporations and large businesses decide to switch from outside to general counsel.

Desire for Company Growth

General counsel lawyers represent their companies and can help them navigate which partnership and acquisitions will be beneficial for them in the long run. With their professional guidance, their respective companies can ensure they reach their desired growth milestones without subjecting themselves to unknown risks.

Regulation Compliance

Another duty for general counsel is ensuring that the rules and regulations of their company’s industry are being followed. Inside Counsel explains that heavily regulated industries, such as finance and health, tend to hire a general counsel sooner than organizations in other industries. Since there are many intricate laws that govern these industries, general counsel is a necessity for the success and longevity of the business.

Organizational Restructuring

When a company is restructuring its management and operations, it is often found that general counsel is needed to intervene. Whether a company needs an organizational overhaul or is adding a foundation to their company’s structure, general counsel is mandatory. Furthermore, companies often find that general counsel is more cost-effective than hiring outside lawyers, as well.

At Huntersure, we are experts in professional liability coverage and the processes used to identify accountability. We aim to protect each component of your clients’ business with competitive pricing and quality solutions. For more information on our products and services, contact us today at (855) 585-6255.

Posted in: blog Lawyer Professional Liability

Tagged: General Counsel Hiring General Counsel Lawyer Professional Liability