As businesses expand their operations, they often need legal counsel to ensure they`re complying with federal, state, and local laws, as well as to protect themselves from legal disputes. One way to secure legal counsel is through an association of counsel agreement, also known as an outside general counsel agreement.

Essentially, an association of counsel agreement is a contract between a company and a law firm or attorney that outlines the scope of the legal services to be provided, the length of the contract, the fee structure, and other important details. As opposed to hiring an in-house attorney, an association of counsel agreement allows businesses to access legal services as needed, without the expense of a full-time employee.

An association of counsel agreement can provide a wide range of legal services, including corporate structuring, compliance with industry regulations, contract review and negotiation, and much more. Because the agreement is customizable, businesses can tailor their legal services to their specific needs.

Another benefit of an association of counsel agreement is that it allows for flexibility. As a company`s legal needs change, the scope of the agreement can be modified. For example, if a company is going through a merger or acquisition, the agreement can be expanded to include legal services related to that process.

Additionally, an association of counsel agreement can help mitigate risk for businesses. Legal disputes and compliance issues can be costly, both in terms of finances and reputation. By securing legal counsel through an association of counsel agreement, businesses can proactively manage risk and potentially avoid legal issues altogether.

When drafting an association of counsel agreement, it`s important to work with an experienced attorney who has a strong understanding of business law. The agreement should clearly outline the services to be provided, the fee structure, and any other important details. Additionally, the agreement should include provisions for termination, renewal, and any potential conflicts of interest.

In summary, an association of counsel agreement is a smart option for businesses in need of legal counsel. It provides flexibility, cost savings, and risk mitigation, all while allowing businesses to access the legal services they need to succeed.