Corporate Lawyer: Better internal or external lawyer?

Business Lawyer

Any entrepreneur, whether a budding businessman or on the path to excellence, must inevitably have an unavoidable travel companion: His Lawyer.

This, more than an idea, is an unquestionable reality for those who are starting out today, or who already know the world of business. Today, immersed in a transcendental moment of political, technological and profound social change, we do not consider taking such an important step, such as starting a business adventure without having a good consultant by our side; If possible, a good business lawyer.

It is the Company Manager, the General Director or the Incipient Entrepreneur who, with the project under his arm and in a hurry, wants his company or project idea to come to light before anyone else gets ahead of him. It is up to him to make such an important decision: choosing his Company Lawyer.

Each entrepreneur may be very clear about his ideal of a Corporate Lawyer, but what will be common to all is to seek the security that this transmits when explaining his project and his legal concerns. He will want to secure and complete his project with the barriers or advantages that the Law allows.

So, better an in-house lawyer or better an external lawyer? It depends. In principle, it will depend on our business size and complexity.

An in-house lawyer or Lawyer in house (as it is known in English) is a lawyer who works only for a company. These can be from any sector. Their functions may be focused on advising said company on the legal matters that correspond to it, as a general rule focused on business law (commercial, labor, tax,...). Today some companies are already forced to incorporate them into the Criminal Compliance or Data Protection department.

An external lawyer, specialized in business, usually works in a law firm with other partners and colleagues. Together, they have a broad vision of the law in all its magnitude and application. Furthermore, the different points of view among the lawyers who are members of the same firm allow us to find solutions that for a single lawyer could require an effort that is sometimes inconceivable in terms of time and cost. Without a doubt, it is the perfect weapon for the defense of any entrepreneur.

However, the two types; internal and external, may become necessary in the same company, as long as the size allows it and we take advantage of the collaboration between both. This can occur in companies of a certain size or also in small and medium-sized companies or projects that, due to their complexity and legal risks, involve; yes or yes, the hiring of an in-house lawyer is mandatory.

Whatever the size and whatever the project, necessarily, the figure of the Business Lawyer, legal advice, is more than essential, it is transcendental, it is what can assure us success, it is definitely what marks a winning strategy .

At FORNER ABOGADOS Y ECONOMISTAS® we are experts in Business Law and we are prepared to help you make the most important decisions. Don't hesitate: Call us or contact us.