I am a lawyer and for the first 5 years of my career, I was the legal counsel for a small corporation here in Texas. I worked as an in-house lawyer, specifically under their insurance department. My job was simple: to make sure that the insurance department was carrying out claims in the most legal manner as possible and that clients’ rights were protected. Fast forward to today, I am now in private practice and I find myself dealing with insurance companies that don’t have their own lawyers. The question here is: should every business have their own lawyers?
My answer is YES! First, it helps having a lawyer as a retainer in your company because he’s paid on a salary rather than having billable hours. he may not be earning as much as the private practice lawyers, but he has a consistent income. Second, you don’t need to go look for a lawyer because you already have one. The moment you have legal issues, you simply need to phone them in. lastly, having a lawyer in your company will be for the benefit of your employees because they can go to him or her when they have legal issues.