INTREPID LEGAL, INC.
Fractional General Counsel & Strategic Advisory Services
Frequently Asked Questions
What is a Fractional General Counsel?
A fractional general counsel provides all the advice and counsel in all legal and strategic matters usually handled by a General Counsel yet works with numerous small or medium sized companies on a part-time or “fractional basis” simultaneously.
What is the difference between a Fractional General Counsel
and Outside General Counsel?
A General Counsel, also known as chief counsel or chief legal officer (CLO), is the chief in-house lawyer for a company or a governmental department. They are usually considered a C-Suite level employee that reports directly to the CEO. For small and midsized businesses that can't afford a whole legal department or even a full time General Counsel, a Fractional General Counsel is a great alternative. Fractional General Counsels differ from Outside General Counsels in that they are considered part of the company’s leadership team, attends all the board and leadership meetings and has an intimate understanding of the company’s culture. Outside General Counsels usually act as outside law firms and do not provide the same internal services as Fractional General Counsels.
What can a Fractional General Counsel
do for your company?
Almost every business decision has some legal ramification, whether it's contracts, human resources, insurance, raising money to buy new equipment, intellectual property, litigation, etc. A Fractional General Counsel can provide advice and counsel and oversee external advisors, boards of directors, leadership teams, and owner or founders on all the various legal issues that arise in daily business decisions. Rich Daniels, MBA/JD of Intrepid Legal, Inc. is a Fractional General Counsel who collaborates with CEO’s and management teams to facilitate company decisions and create new streams of revenue through savvy contract negotiations and drafting. Rich also understands the importance of intellectual property, regulatory compliance, litigation management, human resources supervision and dispute resolution. His strategic approach includes learning a company’s business intimately to develop relationships with all functions of the organization to provide customized counsel for each organization.
How does Intrepid Legal, Inc. typically bill clients?
Intrepid Legal, Inc. typically bills its clients on a daily basis or a half day basis, depending on the overall legal and strategic needs of each client. This is based on an initial consultation call with the business owner to assess and evaluate each individual client and their business. The first 90 days tend to be the most labor intensive and hands on, as most of the time spent is learning the business, reviewing current contracts, and making sure all preparatory and proactive work is in place. After that period, the amount of time can be reassessed and readjusted accordingly to continue working together appropriately and efficiently.
Who is the best fit for Intrepid Legal?
Ideally, the best clients for Intrepid Legal, Inc. are post-revenue ($10M-50M) businesses in the consumer products and manufacturing industries. Traditionally, these businesses seem to have the most legal issues that come up regularly and are the ones who typically don’t have a legal counsel as part of their C-suite. However, overall Intrepid Legal can work with businesses in all industries. When a business starts generating revenue approaching $75M, they should begin considering hiring a full time General Counsel and if Intrepid Legal has been working with the business, they understand the business and its culture and can be a strong advocate to help hire the right candidate who will be a perfect fit for the business’ culture.
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