In the words of Martha Lane-Fox:
“…good legal advice can be transformational…bad advice, especially in start-ups can be costly, infuriating and damaging.” (The Sunday Times, 8 October 2023).
But businesses often resent having to use lawyers, viewing legal services as an expensive distress purchase, rather than an investment in future success – which it can and should be, if you find the right resource.
There are a few elements to this. Firstly, you need to find the right type of legal services provider and secondly, you need to find the right person. Also remember that there are different resources for different jobs. So you need to find the one that is appropriate for the jobs you need doing and your stage of growth. For example, the provider you choose to advise you on your funding round is unlikely to be the one you need to help you manage and close out customer contracts quickly and efficiently.
Diversity
The good news is that the legal services marketplace is much more diverse than it used to be, in many ways! It’s no longer just a choice of which law firm you use. The legal services market has changing for the better in the last 15 years or so. So there are now a range of options, including tech, platforms, AI, and a range of other ‘alternative’ service providers, including fractional in-house/ general counsel.
Experience and personality
When it comes to finding the right person, it’s not just about making sure they have the right experience. It’s also about relationships and personalities – who do you want working with your team? Who do you click with? Who inspires confidence? There are a few signs to look out for :
- Can they identify and simplify legal processes and risks, and come up with practical pragmatic solutions, or do they hide behind jargon and legalese? (Look out for blogs, articles or social media posts which demonstrate how they think and express themselves.)
- Do they have a ‘can do’ attitude, an entrepreneurial mindset? Will they be able to solve problems creatively to help you achieve what you want quickly, or will they just find obstacles which frustrate your ambitions?
- Do they understand your business/sector, do they get what makes you tick, do you feel like they are on your side and part of your team, are they invested in making your business great?
- Are they open and transparent, particularly when it comes to fees? Can they explain how they charge; do they keep you updated, are they actively involved in helping you control costs?
How we help
We’ll set up a cost-effective, efficient legal function for your business. You’ll have an experienced lawyer as your single point of contact who works as part of your operations team. No duplication and no reinventing the wheel each time. We get to know your business quickly to manage your legal matters effectively and add value. And as your flexible in-house legal function, we can be scaled up or down depending on needs.
We analyse risk and prioritise what’s important, then manage and carry out the day-to-day legal work, all to a set budget. We’ve all worked as in-house lawyers in fast growth companies, so know what you need (and don’t need) to worry about. We’ll work with you to get deals and contracts done and help achieve your business goals.
