As a business or as a company you need to have a lawyer who will represent you at all times. Because of the constant need for an organization to have a lawyer represent them, companies need to identify the best way to hire a lawyer or the best agreement so as to have the lawyers represent them at all times, among the ways that you can have this agreement is by having the law firm on retainer. To have a company or to have a law firm on retainer means that you should pay the law firm regular fees so that they may assist you with any legal issue at any given time that you have it. So why then should you have a law firm on retainer.
Having a law firm on retainer means that they will provide you with legal service at any given time that you need them. It is always important to make sure that you have a legal firm that will assist you at any given time since the recruitment of a lawyer can take a lot of time and you may need urgent services.
If your company is a large company then you are bound to have many legal issues and it is cheaper to therefore have a legal firm on retainer as opposed to paying for legal services every single time that you were faced with a legal challenge. Legal firms provide different services at different costs and you may find that you need a service that is very expensive but if you have the company on retainer they will provide you this service without asking for additional fees.
As a company you may not have the time to protect you intellectual property or focus on the protection of your company as a whole. When you have legal firm on retainer they ensure that they protect the operations of your company for instance they ensure that they protect the intellectual property of your company.
Any recruitment process is always hectic and they attract costs such as recruitment and training costs. Hiring a lawyer every time you need legal help is very tiring and it takes a lot of time and takes a lot of resources, therefore, to avoid these instances then you need to have a law firm on retainer since you will not need to have to continuously hire new lawyers to provide you with the legal services that you need.