What Are Fractional Chief Legal Officer (FCLO) Services? - Purple Fox Legal

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What Are Fractional Chief Legal Officer (FCLO) Services?

By Purple Fox Legal

January 2, 2024

Serious Entrepreneurs Need Consistent Professional Advice

For entrepreneurs and small businesses, the importance of creating the right team of professional advisors cannot be overstated. Small business owners need trusted guidance in navigating complex regulations, contracts, and potential disputes. Fractional chief legal officer (FCLO) services can bridge the knowledge gap and save entrepreneurs time and money. These services can deliver business owners crucial advice regarding business structure, intellectual property protection, employment issues, and litigation prevention. Hiring an FCLO can help safeguard businesses and foster long-term success by ensuring legal compliance, mitigating risks, and increasing operational efficiency.

What is a Fractional Chief Legal Officer (FCLO)?

An FLCO is an attorney that a business hires as an independent contractor (as opposed to hiring in-house counsel as as as employee) to provide cost-effective legal services on a recurring basis for a fixed monthly fee.

What are the benefits of hiring a Fractional Chief Legal Officer (FCLO)?

  • A flat monthly fee for consistent, quality legal services
  • Flexibility in how much time you want to address your company’s legal needs
  • Comprehensive compliance with laws, rules, and regulations
  • Creation of strategic business plans that minimize risks and add savings
  • An attorney who is always on call for your business and legal needs

What types of tasks can a Fractional Chief Legal Officer (FCLO) do for your business?

  • Dedicating a specific amount of hours per month preventing problems, creating solutions, or otherwise working on your business and legal needs
  • Developing a comprehensive business plan and execution strategy
  • Meeting with you to identify and/or discuss the your urgent and non-urgent business and legal needs
  • Conducting comprehensive legal audits periodically for your business and internal operations
  • Providing recommendations for improving the your business and internal operations to reduce liability and increase operational efficiency
  • Drafting and negotiating customized contracts for your business
  • Reviewing contracts received by your business from external sources (i.e., vendors, service providers, etc.);
  • Conducting intellectual property clearance searches
  • Obtaining intellectual property licenses from third parties for your business’ specific use (i.e., copyrighted music or audiovisual content needed for a marketing campaign)
  • Registering and monitoring your business’ intellectual property
  • Performing similar business and legal consulting services as needed

How much do Fractional Chief Legal Officer (FCLO) services costs?

While the costs of FCLO services may vary depending on the service provider, we are transparent about our pricing and have published a pricing guide on our Resources page.