LEGAL INSIGHT.
BUSINESS INSTINCTS.

My base rate is $500 an hour, measured in 1/10ths of an hour (6-minute increments). This rate is comparable to junior-level associates at national law firms (3 years or less of experience), whereas I have been called to the bar since 2011.

Gus Lu has broad experience in business law, particularly in corporate and commercial matters. Corporate law generally refer to issues ranging from the formation of a business, its financing and fundraising efforts, its continuing governance and its internal day-to-day operations, such as employment matters and policy development.

Commercial law pertains to business relationships between parties, like customer and vendor contracts, joint ventures, strategic partnerships, and creditor-debtor relationships.

These two areas often blend together, with companies typically leaning more toward either in-house support or external law firm lawyers, depending on the complexity and scope of the issues. Having sat in both the seat of a general counsel, and also as an external practitioner, I can help clients navigate their legal options quickly and cost-effectively.

A very fair question. The benefit of having been a general counsel for a private equity-owned energy services company, I have developed great relationships with law firm lawyers with various levels of specialization, at different price points. Being monogamous with just a single law firm, you may love the service from your go-to lawyer, but you might have a very different customer service experience with their colleagues down the hall. Sometimes they are just as great, and other times, you might not be treated as a top priority. It’s all about “fit” and choosing a counsel who not only understands your business, but also understands your business style.  Let me help you access my broader network of subject-matter experts, and where it makes sense for us to use those lawyers as co-counsel, let’s figure out the best way to get the job done without racking up big law firm bills. Keep in mind, as well, that tax and accounting issues go hand-in-hand with corporate and commercial law.  Where we can work with nimble, cost-effective transaction law experts, let’s tap those resources too.

Hiring a full-time lawyer is a major commitment for a company’s budget, and usually requires salary packages that rival senior-level to C-suite management. With current labour conditions, the costs will continue to rise.  As well, engaging a recruitment agency will usually incur a finder’s fee starting at around 20% of the hired individual’s first-year salary.

Without a doubt, a business will benefit from a long-lasting relationship with their dedicated in-house counsel.  However, there are times when hiring for this role is unfeasible for a multitude of reasons.  A company could be experiencing a temporary busy push where a full-time employee makes sense today, but not necessarily tomorrow.

In addition to the question of long-term utilization, a company needs to ensure a satisfactory fit of personalities, business perspectives, and approaches to risk and relationship management, as well as alignment between the in-house counsel’s career goals versus what the company can provide.  Sometimes these elements cannot be determined during the interview process alone.

Whether a business is experiencing its initial growth phase, or is mature and looking to re-evaluate its G&A spend, the benefit of engaging contracted counsel like Gusto Law is that your business can experiment with increasing utilization of dedicated legal resources, at a fraction of what it would normally cost to delegate it to a traditional firm.