Small and early stage medical device companies and health care entities like smaller hospitals, medical practices, and surgicenters have substantial needs for legal assistance. However, their size and budgets often preclude them from having a general counsel in house. Dr. Teitel at The Teitel Firm believes that its program of part time general counsel services is a good solution for such companies.
Problems with obtaining outside counsel ad hoc for issues better suited to an in-house general counsel include the following:
- Outside counsel can be very expensive;
- Not intimately familiar with your business;
- Not always familiar with your industry;
- May be unavailable when you need them;
- Has no particular loyalty to your company;
Having a part time general counsel retained with expertise within your sector solves many of the problems created by using outside counsel for all your legal needs.
- Your part time general counsel becomes intimately familiar with your operations, your corporate culture, your strategies, and your legal needs over time;
- He is already up to speed in the event a crisis arises;
- You benefit from ongoing legal advice that can frequently prevent legal crises;
- Your legal expenses are predictable and fixed for routine matters;
- As a member of your management team, your part time general counsel can help manage, coordinate strategy, and budget for needed outside legal; and
- Having access to a general counsel will free up the rest of the management team to maximize its expertise to keep the company on track toward its goals.
Dr. Teitel’s experience as a practicing physician, medical device executive, and lawyer makes him exceptionally well suited to serve as your part time general counsel, whether you are a healthcare entity, medical device company, or a group medical practice, consider the advantages of having a part time general counsel on your team.