(GCLC Vision) GCLC is an adaptable and ‘solutions first’ boutique legal practice which strives to deliver pragmatic value driven outcomes through partnering and collaborating with early stage development and growth enterprises.
(Fee Arrangements) As part of the firm’s professional obligations, initial discussions prior to formal engagement include an estimate for that engagement. While an estimate is just that, the intention is always to provide a value based solution or outcome, rather than merely absorbing an estimate. If an estimate is likely to be exceeded then advanced notice will be provided before undertaking further activities.
The firm does offer fixed prices for some work and alternate fee arrangements for in-house engagements in particular. Alternative arrangements for reductions in normal rates, rather than ‘time based’ billing, are premised on certainty and a commitment for an engagement over a period of time (e.g. a commitment to hours per day/month for a discreet period). The client does not have to see the granularity of ‘time based’ billing and gets the certainty and reliability of resource at a discounted rate.
It is always preferred that fee arrangements be clear up front, rather than renegotiated after the anticipated cost has been exceeded. For complex transaction work, where developments and changes occur during the engagement, it is likely that estimates may need to be revisited and discussed over time.
(In-house Engagements) Because of the continuity and commitment to time over a period, in-house engagements are well suited to alternative fee arrangements and reductions in the firm’s usual ‘time based’ rate.
This offering delivers the benefit of having a flexible and adaptable expert in-house resource on site, represents a clear timeframe for the engagement and clarity about the cost. This service is directed at growth enterprises that would benefit from having an in-house legal resource, but are not yet at the stage which requires a full-time lawyer or don’t want the commitment of having employee obligations.
Rates and the time commitment for this form of engagement are tailored up front and reviewed regularly to ensure that the client is receiving value and objectives are being achieved. It is accepted that enterprises at this stage of development will have engaged lawyers generally, however GCLC can meet the client’s needs when a law firm secondee is not preferred or the incumbent firm does not have capacity to provide a junior lawyer for secondment. Engaging GCLC ensures that adaptable senior expertise is applied at a fraction of the full ‘fee for service’ cost.
(Available for directorships) Having many years of advising in senior executive roles and advising boards directly in private practice, together with academic corporate governance qualifications, providing directorial services to listed corporates is a synergistic addition to the firm’s services.
While the counsel is, leave the lawyer at the door, boards benefit from being able to rely on the skill set and structured approach to thinking which a lawyer with corporate experience brings.
These services can be provided in addition to providing discreet legal engagement services through the firm, or may be a standalone appointment.
