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Whether you’re running a hopeful startup or an established company, your daily operations and long-term goals will inevitably require legal input or assistance. However, depending on the size and age of your company, the extent of your counsel may vary. If you’re trying to decide between outsourcing corporate law work or hiring an in-house attorney, use the following guide to find out what’s best for your business.

Legal Counsel for Companies of Any Size

1. Small Companies

At this stage, legal help is really about what you can afford. If you’re strapped for cash, you may be asking for favors from friends in the industry or trying to manage paperwork yourself. However, if you can spare some of your startup budget, you’ll probably outsource all your legal work. Whether you need to gather permits or draw up contracts for investors, outsourcing is cheaper because you won’t have someone permanently on your payroll. On the other hand, you could hire one legal expert to work in-house. Depending on your needs, this option might afford you more peace of mind. 

2. Growing Companies

corporate-lawIn this in-between stage, you may start to encounter legal obstacles due to your expansion. As a result, it pays to hire a handful of lawyers who cover a wide range of practice areas. At this stage, your small team will focus on contracts, as well as minor regulatory and human relations issues. For larger issues, you may outsource lawyers who specialize in whatever case you’re involved in, such as litigators or insurance specialists.

3. Large Corporations

When you enter the big leagues, you’ll need to establish legal departments within your company and stock them with specialists who can tend to matters in a moment’s notice. For example, the corporate lawyers will handle mergers and acquisitions, draw up contracts, and manage day-to-day legal needs. You’ll also have a litigation department and a regulatory department, which will interact with OSHA (Occupational Health and Safety Administration) or the EPA (Environmental Protection Agency). Finally, you’ll need privacy and cybersecurity lawyers, especially if you’re in the tech industry. This task might also be covered by a risk manager with IT experience who turns to outsourced cybersecurity lawyers in times of need.

 

 

Regardless of the size of your business, you can turn to MacVean, Lewis, Sherwin & McDermott, P.C. of Middletown, NY, for your corporate law needs. They’ve served individuals and businesses in the area for over 130 years, and they will be proud to help you grow your company while working within the law. To learn more about their practice areas, including employment and criminal law, visit the website. You can also call (845) 343-3000 to schedule a free corporate law consultation.

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