For many businesses, especially those that intend to grow, having an experienced business attorney who is aware of the current status of the business, its operations, and it's strategic planning is a crucial aspect of smooth growth. This "General Counsel" role ensures that the attorney is aware of business operations sufficiently that they can identify arenas where there might be a compliance problem or a risk that should be addressed at the outset.
This differs from having a relationship with a business attorney who is "on call" for matters as they arise. For example, a business owner or executive team might think to send a new contract, a lease agreement, or a specific legal question to the lawyer they're used to working with. However, in this case it is up to the business leaders to identify legal problems or circumstances requiring legal review. Because most business owners, however savvy, have an imperfect understanding of what those problems or circumstances are, and because of the added friction of having to bring in the outside attorney (who might be busy or unavailable, since they're not typically aware of the businesses' status or needs), many potentially serious business issues are likely to be overlooked, which often leads to unnecessarily complex or expensive future problems.
The "Fractional General Counsel" role recognizes that the need for a deeply engaged business attorney to offer guidance on operations, compliance, and strategic plans often arises before a business becomes large enough to merit having a full-time general counsel role on salary. In retaining a fractional General Counsel, you commit to keeping them much more involved in business decision making and discussions than you would a "regular attorney": for example, you would routinely include them in board meetings, executive meetings, and other forums in which plans and decisions about the businesses' next steps are discussed or made. In light of this commitment, we can reach agreement on a reduced hourly rate, or a monthly/quarterly flat fee, to help the business manage their legal spend. As a result, your business has the benefit of continual expert legal guidance with deep knowledge of your specific business needs, while managing your legal spend effectively.