Operating successfully requires effort from various areas of business such as
accounting, information technology, investing and human resources. Companies also
benefit from the insight of a professional familiar within their industry, including the laws,
restrictions, and other regulations to keep things on the right path.
General corporate counsel (GCC) refers to attorneys who advise businesses and
corporations on all firm needs, especially legal. They provide legal counsel to a
company and its employees – often working travelling to participate in meetings, trials,
depositions, and other legal proceedings.
The Importance of Regular Communication
The responsibilities of a GCC and how often they should meet with management are
determined by the immediate and specific needs of the business. As a rule, it’s
advisable to connect with a GCC at least twice a month in an ongoing legal situation.
Time-sensitive matters are inherent in the business of investment management.
During times without a current matter, firms, at the very least, should have management
meet with its GCC monthly or quarterly to help a business avoid snowballing legal
situations, as well as to stay abreast of recent legal news and updates that may impact
their business. The goal of a GCC is to meet a client’s needs in a timely manner.
Areas to Leverage a GCC
Preparing and reviewing company documents. A GCC is trained in reviewing
documents to determine their specific legalities and meanings. These documents
can include employee contracts, proposals, and other legal documents such as
bylaws and non-disclosure agreements (NDAs).
Employee Contracts. This is a specialty area of legal expertise every company
can leverage. A GCC can ensure employee contracts define the terms and
termination of the agreement, set employee role expectations, clarify
responsibilities, set forth guidelines for dispute resolution, and provide clear
expectations for compensation and employee benefits. Every employee contract
should include confidentiality provisions and restrictive covenants that define
specifics regarding NDAs and provisions for non-compete clauses. A GCC can
also help streamline the onboarding process by performing such tasks as a
completing a background check to ensure the safety and security of clients and
other employees. Click here for more information on employee contracts.
Consulting. A GCC adds value by being available to consult with management,
tax experts, accountants, and other employees or advisors. The weight of
importance placed by companies on a GCC is reflected by every decision a
business makes, from hiring to marketing to sales. A GCC can resolve grey
areas and answer the many questions a business has to confront to stay in
compliance and operate consistent with federal, state, and local laws.
Drafting contracts. GCCs can successfully draft and negotiate contractual
agreements dealing with real estate, property, insurance, and third-party
vendors. They can help arrange the best possible deal and mitigate business risk
by analyzing critical areas from a legal perspective.
Planning company policies. Corporate compliance has many moving parts.
GCCs can suggest solutions to the challenge of trying to balance corporate
profitability with potential legal implications. They’re also best suited to help
develop a company’s policies on industry-specific issues, corporate governance,
and regulations.
The team at Jacko Law Group offers businesses the peace of mind in knowing they
have a trusted legal partner that is invested in their success. We help firms maintain
their operations, ranging from corporate governance, contract review, intellectual
property, and more. For more information on how you can leverage a GCC, contact us
at (619) 298-2880 to schedule a consultation.
