Quick read
AA&C partner developed legal strategy and brought in an Axiom attorney to:
- Complete a variety of important legal matters
- Provide general counsel services on an as-needed basis
- Reduce hourly rates by 40%
Challenge
Private equity firm needed legal guidance for one of its PortCos (portfolio companies) that lacked in-house counsel. The company did not have enough work to justify hiring a full-time general counsel, and traditional law firm rates were too high.
Approach
Private equity firm’s C-Suite looked to Axiom Advice & Counsel (AA&C) for legal guidance from a seasoned legal partner. AA&C partner developed legal strategy to tackle the work and brought in an Axiom attorney, a former general counsel, with over 35 years’ experience to address a variety of key legal activities. The Axiom attorney acted as a fractional general counsel for the PortCo and took on a variety of legal matters. These matters ranged from sales contracts, to compliance programs, to working with outside counsel to file a trademark infringement suit, to working with international office in Malaysia on legal needs.
Impact
- Executive-level in-house legal leadership from a former general counsel helped PortCo effectively complete multiple important legal matters with confidence.
- Access to General Counsel Services on an as-needed basis provided flexibility for PortCo to obtain valuable legal guidance without hiring a full-time legal executive.
- Private equity business is now bringing AA&C’s GC Services into multiple PortCos to introduce standardization and best practices across companies.
*AA&C is an Arizona law firm. Axiom is a provider of legal talent and is not a law firm. Axiom lawyers engaged as independent contractors by AA&C work under AA&C’s supervision.
**Cost comparison contrasts actual AA&C and Axiom rates with rate of traditional law firm for work type, based on Wolters Kluwer Real Rate report.
