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 Posté le: Mar Oct 01, 2013 6:25 am Sujet du message: Law report: To go or not to go in-house |
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{Law report: To go or not to go in-house?}
Keg Restaurants director of legal services Catherine Chow: in-house counsel must integrate with overall business processes. See page 23|© Dominic SchaeferBy Sean KolenkoTue Jun 4, 2013 12:01am PSTFor Warren Smith, managing partner at legal recruitment firm the Counsel Network, the decision about whether or not to hire in-house counsel rather than use external law firms for a company's legal needs often boils down to one immutable concern – cost.After all, Smith said, lawyers are expensive and can represent a significant financial consideration for companies that require frequent legal advice."The question often becomes, 'Can we capture this [legal cost] in-house?'" Smith said. "There are savings to be found. For basic legal advice or service, a company can pay between $300 and $400 per hour. That cost usually starts the discussion about obtaining in-house counsel."In addition to cost, Smith said there are two other important factors for a company to consider when evaluating the importance of obtaining in-house counsel: whether the company is large enough to justify such a position or if a company has repetitive needs that require constant legal advice.The latter example, said Smith, is often faced by companies such as mining firms – found in abundance in Vancouver – and tech companies that require vendor agreements or non-disclosure agreements."In mining, for instance,[url=http://www.moncler-sale.org]moncler sale[/url], they're looking for someone with a knowledge of the sector and someone with experience in securities and the Toronto Stock Exchange, the Venture Exchange and the New York Stock Exchange," said Smith."But they're also looking for good judgment on frequent deal negotiations – M&A, for example."In the tech startup world, added Smith, entrepreneurs and business leaders are concerned with intellectual property rights and, as such, may opt to have in-house counsel brought in during the early stages of a company to protect against any threats in that realm.With such a varied legal landscape available to in-house counsel, who are the lawyers opting to take the corporate route over the traditional legal firm? What attracts them to this sphere of the profession?According to Robert Piasentin, a Vancouver-based lawyer for IT consulting giant Sierra Systems, the role of in-house counsel simply isn't suited to every lawyer. It requires someone willing to straddle both the legal and business sides of the company they work for.And that can be a bit of a tightrope walk.But for those with an interest in learning and, subsequently,[url=http://www.moncler-sale.org]moncler outlet[/url], growing along with their respective companies,[url=http://www.moncler-sale.org]moncler on sale[/url], then a career as in-house counsel can open doors, pose challenges and offer experiences those in working traditional law firms don't have the chance to see."The decision [to become in-house counsel] really does come down to being attracted to the business side of your client in addition to the legal side," said Piasentin, who's also the president of the B.C. chapter of the Association of Corporate Counsel, global bar association that promotes and advocates for the interests of in-house lawyers."At a law firm, you're just not as connected to business. When you're in-house, you're involved in decision-making, you will be involved with other departments. I work with the HR, sales and marketing departments. You have your finger on the pulse of a lot of issues."Such a wide-ranging mandate, however, does comes with a unique set of challenges, explained Piasentin. For instance, in-house counsel must be able to understand and fit into an office culture that isn't inherently focused on legal matters.At Sierra Systems,[url=http://www.moncler-sale.org]moncler on sale[/url], Piasentin explained, it's his job to provide advice on a host of legal issues. But he's acutely aware that a business may choose to proceed with a decision that opens them up to risk from time to time. When that happens,[url=http://www.moncler-sale.org]moncler down jackets[/url], in-house counsel is quickly tasked with figuring out how to mitigate that risk.In either scenario, whether it's advice or risk-related, a critical advantage to having in-house counsel is the ability for executives and decision-makers to get the requisite information without the any lag time."Having in-house counsel really helps to educate the business folks,[url=http://www.moncler-sale.org]moncler down jackets[/url]," said Brian Fees, chief financial officer at Sierra Systems."It allows you to respond to clients quicker. It gives you that resource in real time, in-house. The process of getting important advice is just more natural, streamlined and efficient." •Tags: law,[url=http://www.moncler-sale.org]moncler sale[/url], Keg Restaurants Ltd,[url=http://www.moncler-sale.org]discount moncler jackets[/url],[url=http://www.moncler-sale.org]discount moncler jackets[/url], New York Stock Exchange, Toronto Stock Exchange,[url=http://www.moncler-sale.org]moncler outlet[/url], legal service, entrepreneur
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