COVID's Catch 22 - A Bottom-Line Dilemma for Businesses
Updated: Apr 2, 2021
The COVID-19 coronavirus struck every business in one way or another. For some, it required immediate changes to business models and operations as they adapted to new executive orders and consumer behaviors. For others, it meant racing to navigate the Payroll Protection Program (PPP) to receive a forgivable loan before funds ran out. This presented a dilemma for businesses trying to reduce expenses in the face of declining revenue:
"Should I use/keep my attorney?"
It's a bit of a catch-22. On the one hand, attorneys are typically expensive. If a business is using outside counsel, they expect to face lofty hourly fees. Even if they use an in-house legal team or general counsel, they're keeping a considerable, non-billable salary on the books. On the other hand, an inadequate response to COVID could attract significant liability, and failed forgiveness of a PPP loan could require the business to repay millions of dollars in loan funds.
However, it doesn't have to be so binary! Businesses no longer have to choose between their bottom line and competent legal guidance. They're no longer conscripted to a choice between an expensive outside attorney (whose bills are always higher than expected) and carrying the salaries and benefits of an in-house legal team. Out-House Attorneys has emerged to provide a middle-ground solution.
Out-House Attorneys combines the best features of outside counsel and the in-house attorney. We deliver on-demand access to senior legal executives who know your business inside and out - without burdening you with high hourly fees or a full-time salary.
In the wake of COVID, we have walked clients through the PPP application and forgiveness process. We have conducted COVID risk assessments, put together mitigation strategies, adapted operations to reduce potential liability from consumers, and put together enterprise-wide workplace policies to ensure the safety of essential workers.
Best of all - we've done this without breaking the bottom line. Not only are our fees modest, but we let our clients choose how to engage with us. You can choose to engage Out-House:
Hourly, using the traditional 'billable hour' but with modest rates;
On a Fixed-Fee basis for specific projects; or
On Retainer, reserving a monthly bucket of hour for a set fee.
Our model doesn't just reduce legal costs, it makes them predictable, too. (Say goodbye to those surprise legal bills!)
If your business is struggling to adapt to business in the age of COVID, if you're trying to apply for forgiveness of your PPP loan, or if your legal fees are burning a hole in your bottom line, contact Out-House Attorneys.
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