Outsourced General Counsel
Our attorneys serve as Outsourced General Counsel (OGC) and support a flat-fee monthly subscription model. As an outsourced GC, your attorney provides practical, transparent, and predictable legal services focused on the day-to-day needs of executive officers in emerging, growth stage, and established companies. We help take matters off the plate of busy CFOs and CEOs of venture or PE-backed enterprises to create internal efficiencies and more time for other business matters and growth.
The OGC and business attorneys at Practus have the insight and skill to navigate the wide spectrum of challenges that affect emerging growth businesses. Our attorneys have deep, legal expertise in regulated fields such as the life sciences, insurance, healthcare, and the growing areas of AI and fintech, as well as chemicals, advanced materials and natural resources, and higher education and student data and privacy. Our years of experience counselling clients in these industries and in philanthropic pursuits enable us to offer insights and open doors that traditional business lawyers do not know exist.
Insider knowledge leads to proactive legal advice. As an OGC, our goal is to become a trusted legal partner for the executive and management teams in your business. By working personally with your team on a daily or weekly basis and integrating with your company workflows and processes, we can provide real-time legal advice that is proactive rather than reactive. This inside knowledge of your company’s vision, goals, plans, and culture will help guide internal advice to the executive and management teams, and external negotiation with your partners, customers, and vendors.
Transparency and accountability. In our standard OGC model, you pay a flat monthly fee, which allows you to budget and plan ahead for legal spend, while avoiding the overhead cost of a full-time in-house attorney.
We understand cost is a key concern, especially for a young business that has yet to establish a predictable revenue stream. Whether or not the flat monthly subscription model is right for your business, we collaborate with our clients to customize fee arrangements that work within their constraints.
Practical and efficient legal services. By working as a team to create automated systems and workflows for the contract process, through template updates, negotiation, and renewals, we will create more efficient processes that create value in the day-to-day operation of your company. Our OGC attorneys have managed in-house legal teams, supervised complex litigation and designed and implemented compliance programs. By starting and running business units successfully at major corporations, we bring a healthy dose of practicality to the legal advice we share. Examples of typical OGC Engagement:
- Customer and Vendor contract review and negotiation
- Implement NDA internal processes and review
- Contract management
- Implement contract approval workflows and process
- Equity management and issuance (implementation of equity management software)
- Option issuance and manage Board approvals
- Audit assistance
- M&A internal diligence assistance
- Banking relationship management with the Finance department
- IP portfolio management
- Compliance matters
- HR compliance
- HR template management
- Lease review and management
Types of Transactions and Services
- Formation of Entities
- Corporate Governance
- Outside General Counsel
- Compliance Programs
- Venture Financing
- Mergers & Acquisitions
- Stock-based Compensation
- Intellectual Property
- Employment Agreements & Non-competes
- FDA and EPA Regulations
- Privacy Law
- Data Sharing & Data Compensation
- Non-Disclosure and Assignment of Inventions Agreements