The Business/Legal Assessment: Analyzing Needs; Customizing Solutions

The next best thing to an in-house, full-time and on-call general counsel is to minimize the need for an in-house, full-time and on-call general counsel. That’s the purpose of the Business/Legal Assessment.

The idea is to have an inter-disciplinary team of lawyers analyze, really analyze, the details of your company’s operations, structure, methods, strong points, weak points, needs and risks. Think of it as a physical for your business. Then, based on what we learn, we can use the tools the law provides to prepare the advice and guidance required to build and protect your business.

How Does It Work?

First, based on the Business Blueprint and additional interviews, we prepare a Business/Legal Checklist which specifies the documents and additional information we need. We will work with you and your personnel to clarify what is required and to put these materials together.

Unlike communications with consultants or other advisors, all communications with us are protected from disclosure by the attorney-client privilege.

Second, based on what we learn, we will prepare a detailed Business/Legal Report that includes specific recommendations, coupled with an explanation of the basis for each recommendation, what the implementation of the recommendation will entail, what you may expect to obtain by implementing the recommendation, and an implementation cost estimate.

Once you have had an opportunity to review the Business/Legal Report, we will meet with you to further explain the Report, to answer any questions, to discuss potential next steps, and to address other issues and concerns.

Third, we will (if you wish) meet with you every six months during the following two years to review changed circumstances and how the Report might be further utilized.

It is important to clarify that we are not business consultants. We are lawyers, and we work from that perspective, as would an in-house general counsel. We frequently work in tandem with our clients’ business advisors, accountants, and consultants in completing the Business/Legal Assessment and the Business/Legal Report.

What Kinds of Businesses Can Use the Business/Legal Assessment?

The process is tailored to the type and size of your business. For example, while there is substantial overlap, we utilize different methods and forms for businesses such as:

  • Design professionals
  • Other professional, consulting and service businesses
  • Manufacturing companies
  • Technology companies
  • Consumer goods companies

In certain instances involving very specialized or highly regulated businesses, we may not have the expertise required to complete a proper analysis, and we will advise you accordingly.

What’s the Cost?

We charge a fixed, up-front fee for the Business/Legal Assessment and Report, and the follow-up meetings. The amount of the fee is determined by the nature and size of your business.

For more information, email us at GeneralCounsel@PowellTrachtman.com.