In terms of law application, some of the Indian common laws are derived from past principles and precedents of English law. So, it is really important for the in-house counsel to be quite familiar with the past principles and judge based laws as those are of prime importance in common legal sector. It will form certain parts of outside general counsel services as well.
Unlike the UK, which completely relies on common law, India has its share of own constitution now. The Indian constitution created in 1950 is the major principal piece of the Indian legislation and it works on fundamental rights, fundamental duties and even direct principles of the state policy. It will work on the divisional powers of the government and even federal structure. With 12 Schedules and 224 Articles, the Indian constitution is the longest possible contribution in this world. It is even considered an organic legislation piece, which is here to grow with some future amendments.
The pros of an In-house counsel:
There are so many advantages for businesses who are actually employing in-house counsel. So, it is becoming one major popular trend, which is hard to ignore. There are certain cost savings, as you are paying an external counsel at an hourly rate for the services provided to you.
- The in-house counsel service will definitely reduce unnecessary delays as the members will work for the business employing them and not working with any third party service. They are not dividing their concentration among multiple clients.
- The in-house pros are here to provide that added advantage of just being familiar with business employing them. They are already ell-aware of the working environment of the company, which is yet another plus point, along with the firm’s general ethos and principles.
- They are mainly employees of the business and will have best interest of this firm at heart. It is not something that you can expect to get from external counsel at all.
Some cons are into in:
Just like with everything on this planet, the in-house general counsel lawyer will have its share of cons as well. One such disadvantage is that employing in-house counsel won’t be able to appear as lawyers before court. So, the engagement will be proven to be just useful in stages leading to court appearances. The business, however, has to engage services of external counsel for covering court affairs.
Another noted disadvantage is that engaging external counsel will help businesses to draw from loads of talents that your particular firm needs. The in-house counsel, however, is likely to be properly aligned with business objectives and it is unlikely that a sole in-house worker can come up with range of solutions, only presented by a law firm.
How in-house legal counsels can help:
There are multiple times when you have to take help of an in-house legal counsel for help and to help grow your firm without any legal implication. There are some points that you need to cover in here and get hold of. So, before proceeding any further, it is mandatory to know the duties, otherwise performed by the in-house legal counsels.
- In case you are in active fund raising mode, then the role of in-house counsel is always right at the top. Here, the deals will be involving company stock, which can prove to be a bit complex. They might further involve a proper balance between the management and investors.
- Primarily, the in-house counsel is always holding the best position to understand the current sensitivities and then achieving proper alignment of the said interest. So, you can get this point into action while trying to hire one in-house counsel right here.
- Moreover, the in-house counsel will play major role in formulating policies and then making business decisions, and even those which are not legal in nature. Most of the business owners over here would lie to get the major perspective of a disciplined and smart thinker on wider issues including major hiring decisions, acquisitions and also covering some of the significant marketing strategies.
- The in-house attorneys primarily have proper philosophy about compliance, law and even some of the best practices, mainly within the specialization area. In the same way, this can lead to projects for upgrading the approach of the company. Some such examples will include employment contracts, NDA forms, compliance policies and even rewriting some of the articles of incorporations. Or, you can get hold of the in-house counsel to revamp the IP protection measures from top to bottom.
There are so many reasons for the businesses to head towards an in-house legal counsel for help. If you are aiming to get help from one then logging online and finding the best names for right services can cover the performance well. The more you research, the better names you will come across. Make sure to check the credibility before selecting an in-house counsel.