Wondering if you should hire a fractional GC?
Let’s do the numbers.
You’re a tech founder gaining traction. You want protective product terms and a privacy notice. You’re negotiating a strategic agreement on the customer’s paper, and received minor redlines from three other customers on your template, and have a steady stream of NDA. Your engineers sometimes ask you legal questions you struggle to answer. You’re going to raise a new round in the coming year but haven’t started preparing for that.
Law firm:
charges $1200 for partner, $800/hr for associate (after discount from the “real” rate).
You send emails back and forth with a third-year associate. At the end of the month you are charged:
Product terms of use: $2,500
Privacy notice: $3,000
Strategic deal – redlines and negotiation calls: $10,000 (associate on the calls)
Minor redlines (x3): $4,500
Total: $20,000
Legal questions still come to you, and you don’t run them by the firm. You do the NDAs yourself, and you’ll think about that fundraise when you come to that bridge.
Fractional GC:
We schedule a 30-minute scoping call but end of talking for an hour.
I estimate the workload and quote a monthly retainer of $9,000/month for the next three months, all included.
You add me to your Slack, introduce me to your team, and tell them they can reach out for whatever they need. If you want, I will join your executive team meetings and all-hands meeting too.
I start with the strategic deal and redlines. I work directly with the product and engineering team on the terms of use and privacy notice, and knock out the NDAs as they come in. Now the team feels comfortable sending their questions directly to me. After the early wins I start mapping the gaps you’ll need to close for the fundraise and we talk about what projects you want to tackle next month and how we can automate the legal workflows with AI.
Total: $9,000.
How would you like your legal?
Wondering if you should hire a fractional GC? Let’s do the numbers.
Wondering if you should hire a fractional GC?Let’s do the numbers. You’re a tech founder gaining traction. You want protective product terms and a privacy notice. You’re negotiating a strategic…
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