There are numerous reasons a company decides to recruit their first in-house lawyer. Traditionally the key driver was to reduce reliance on external law firms and the associated costs of briefing work out. However the intangible aspects of bringing legal work in-house as well as heightened corporate governance and changes to regulations that are sweeping across Europe are now often the main consideration for companies.
The commercial advantages of having a lawyer embedded within your business are of far greater significance than saving costs on external fees. Good in-house lawyers are able to think and act strategically, adapt to the business and offer legal advice in a commercial context. As regulatory changes continue to effect the way companies conduct their business, there is now far more pressure at Board level to ensure that the necessary legal and regulatory framework exists with the business.
Whatever the reason a company has for hiring their first inihouse counsel, Taylor Root has been helping organisations navigate this space for many years and frequently provides detailed insight and support to CEO’s, CFO’s and HRD’s.