Outsource Legal Counsel Service
A key challenge for many financial services businesses is cost effective and consistent management of legal issues – from obtaining and implementing advice to establishing consistent and cohesive legal documentation for the business.
Using appropriate expertise and establishing a central point for management of these issues can assist in achieving this.
Legal issues which require management are likely to include:
- Leases
- Supplier agreements
- Insurer and third party Broker Administration Agreements
- Disclosure documents and client retainers
- Employment / contractor contracts and Workplace Agreements
- Outsource services provider contracts
- Acquisitions and Portfolio Transfers
- Intellectual property issues including trademarks
- Marketing and advertising – trade practices, privacy, spam etc.
Key elements of a sound approach would include:
- Development of legal policies on key issues;
- Development of base contractual templates which (to the extent it is feasible) require minimal adaptation for State and Territory requirements and are able to be administered by non-lawyers; and
- Skilling of line management in the use of these contracts.
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How can we help? |
Gold Seal’s legal team provide an outsourced legal management service. This can include the following:
- Developing legal policy including approaches to common contractual and legal issues.
- Undertaking legal work which is within our capability – a considerable amount of the legal work that financial services businesses require is within our capability. We could perform the work where we can do it more cost effectively than other external legal firms.
- Use of a panel of specialist law firms (with set or discount rates where possible) in order to harness purchasing power for these services.
- Managing the retention of and delivery of other legal work by specialist law firms – in particular, obtaining quotations for legal work prior to retention.
- Coordinating and synthesising legal work product from all sources and preparing contract templates in high volume areas.
- Assisting to implement legal advice obtained – conventional legal advice often requires “translation” (“I know the answer to my question – what do I have to do now?”) and/or implementation guidance.
- Educating and skilling executive and line management in managing legal issues in accordance with the policies and template contracts.
The objective is to have a consistent set of legal standards by which the business is managed which includes both policies and templates for common legal and contractual issues.
As a business achieves critical mass and the required policies and templates are developed, it may become more cost effective to have in-house resources in some areas. We work with you to identify when this occurs and assist in the recruitment of the appropriate resource.
For an obligation free consultation about our Outsource Legal Management Service, call Claire Wivell Plater or email clairew@goldseal.net.au
