Should you hire a fractional or interim General Counsel?

We’ve already discussed the key considerations you should make before hiring a fractional General Counsel, but how do they weigh up against interim professionals?

In today’s complex business landscape, companies face a myriad of legal challenges. Whether it is navigating regulatory requirements, managing contracts, or addressing potential litigation, having access to legal expertise is crucial. For many organizations, especially small to mid-sized businesses, hiring a full-time general counsel may not be financially feasible.

This is where fractional or interim general counsel come into play. But should you consider this option?

Interim vs fractional General Counsel

Deciding between hiring an interim or fractional General Counsel depends on your organization’s specific needs and circumstances.

Interim General Counsel

An interim General Counsel is usually brought in for a fixed period, often to cover for a vacancy or during a transitional phase. Key advantages of hiring an interim professional include:

• Immediate Availability: They can step in quickly to manage urgent legal issues or fill a gap during a transition
• Focus on Stabilization: An interim leader often focuses on ensuring compliance, stabilizing operations, and addressing immediate challenges
• Project-Based Expertise: They can lead specific projects, such as audits or system implementations, and then depart once objectives are met

Fractional General Counsel

A fractional General Counsel works on a part-time or flexible basis, providing ongoing expertise and support. Key advantages of hiring a fractional General Counsel include:

• Long-Term Strategy- They focus on developing and implementing legal strategies that align with the company’s long-term goals
• Cost Efficiency- Businesses can access high-level expertise without the costs associated with a full-time hire
• Scalability- Fractional roles can be adjusted based on the company’s evolving needs, making it a flexible option

The benefits of hiring an interim or fractional General Counsel

1. Cost-effectiveness – Hiring a fractional or interim general counsel can significantly reduce costs compared to a full-time employee. You pay only for the hours needed, which can be especially beneficial for startups or small businesses operating on tight budgets.

2. Flexibility – These legal professionals offer flexibility in terms of hours and services. You can engage them for specific projects, routine legal advice, or during critical periods, allowing you to scale legal support based on your current needs.

3. Expertise without long-term commitment – Fractional and interim general counsels often bring diverse experiences from various industries. They can provide immediate insights and solutions without the long-term commitment of a permanent hire, which can be advantageous during times of uncertainty or transition.

4. Focus on core business activities – With a general counsel overseeing legal matters, business leaders can focus on strategic decisions and operations, enhancing overall productivity and efficiency.

5. Quick onboarding – Interim general counsels can quickly adapt and start contributing, which is essential during times of change. They are accustomed to jumping into roles and providing immediate value.

Disadvantages of hiring fractional or interim General Counsel

1. Limited availability – Fractional general counsels might juggle multiple clients, potentially leading to availability issues. Depending on their workload, they may not always be readily accessible for urgent matters.

2. Potential lack of in-depth knowledge – While they may have broad experience, fractional or interim general counsels might not be as familiar with your specific industry or company culture, which can be a disadvantage when nuanced understanding is crucial.

3. Integration challenges – Integrating a fractional or interim general counsel into your team can be challenging, especially if they are not familiar with your organizational structure or operational processes.

4. Risk of inconsistency – If multiple fractional or interim legal counsel are used, it can lead to inconsistent legal advice and strategy. Companies must ensure clear communication and alignment on legal matters.

However, hiring interim is a good way to try out each other for both the hiring company and candidate. Especially with such an important role. If an interim GC ends up being a good cultural fit, then they are already in place once the company is a financial position to hire full time.

When should you consider hiring a fractional or interim General Counsel?

1. Startups and small businesses – Limited budgets often make it impractical to hire a full-time general counsel.
2. Transition periods – If your organization is in a transition phase—such as mergers, acquisitions, or leadership changes—interim legal support can provide stability.
3. Special projects – When you have specific projects, or compliance needs that require legal expertise but do not warrant a full-time hire.
4. Risk management – To proactively address legal risks without the overhead of a full-time position

How Taylor Root can help you source a fractional or interim attorney for you company

Deciding whether to hire a fractional or interim general counsel depends on your organization’s specific needs, budget, and circumstances. While this option provides flexibility and cost savings, it is essential to consider potential drawbacks like availability and integration challenges.

Assessing your current legal needs and future goals can help determine if this arrangement aligns with your business strategy. In many cases, a fractional or interim general counsel can be an asset, providing the expertise necessary to navigate complex legal landscapes without the commitment of a full-time hire.

If you are looking to hire an interim or fractional General Counsel for your company, please don’t hesitate to submit a brief and a member of our team will be in touch. Alternatively, if you are looking for a new General Counsel opportunity, look at our latest opportunities.