Fractional CLO Services

Fractional CLO Services

Fractional Chief Legal Officer

Legal Help Can Be Hard to Find in Canada

Obtaining quality legal advice in Canada can be difficult and expensive. That’s where a Fractional Chief Legal Officer (FCLO) comes in. By getting to know a business’s specific needs, an FCLO can provide dedicated and ongoing support tailored to their client’s unique requirements.

Fractional Chief Legal Officer in Canada

Outside legal counsel in Canada can be cost prohibitive for small to mid-sized businesses who may only require legal services sporadically. These companies may find themselves speaking to different firms or attorneys each time they require assistance. An FCLO can provide consistent and professional legal services, eliminating the need to contract outside counsel each time. FCLO services can be provided at a set monthly rate, providing businesses with predictable and reliable costs.

Benefits of a FCLO in Canada

Canadian companies who hire a Fractional Chief Legal Officer can enjoy the following benefits :
Lower-costs

Cost-Effectiveness

FCLO services are more cost-effective than hiring a full-time Chief Legal Officer or retaining outside law firms for legal services.
flexible-engagements

Flexibility

FCLO services offer flexibility in terms of hours worked and engagement length, making it easier for businesses to adjust their legal needs as their business evolves.
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Experience

FCLOs are typically seasoned legal professionals with a wealth of legal expertise. They can provide guidance and counsel across various legal areas, helping businesses make informed decisions.
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Specialization

FCLOs can specialize in specific areas of law, such as employment law, intellectual property, or contract law. They can also specialize in specific industries, providing businesses with specialized legal expertise without having to hire multiple lawyers.
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Risk Management

FCLOs help businesses identify and manage legal risks, ensuring compliance with applicable laws and regulations and avoiding legal disputes. A Fractional Chief Legal Officer can help SMEs navigate the complex Canadian legal environment and lighten the compliance burden.

Why Engage a Fractional Chief Legal Officer in Canada

Navigating the Canadian legal environment can be challenging for SMEs. A FCLO can provide small and medium-sized businesses with cost-effective, flexible, and specialized legal services that can help them mitigate legal risks. By engaging an FCLO, businesses can get quality legal help in a more cost-effective and reliable way.

Role of a Chief Legal Officer

A Chief Legal Officer (CLO) is the top legal executive in an organization. They are responsible for managing all legal affairs, plus contractual, compliance, and regulatory matters. Additional duties and responsibilities of a CLO vary depending on the size and nature of the organization they work for, but generally, they are responsible for the following:

Legal

Providing Legal Advice

CLOs are responsible for providing legal advice to senior executives and other stakeholders in the organization. They are the go to person for all things related to legal and contracts.
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Compliance Oversight

Most business face the complexities that come with meeting governmental compliance requirements. A CLO will help protect the companies they serve comply and from risk in this area.

Managing Legal Risk

CLOs are responsible for identifying and managing legal risks. More importantly they can explain those risks and the associated upside and downsides. CLOs also ensure that an organization is in compliance with all applicable laws and regulations.
Repeatability, execution

Drafting and Reviewing Contracts

CLOs are responsible for drafting and reviewing contracts, including vendor contracts, employment agreements, and other legal documents. If entering into contracts is common for the business of a company, a CLO is essential.

Managing Litigation

For most businesses litigation is best avoided. When it is required, CLOs are responsible for managing it and representing the organization in legal disputes.
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Managing the Legal Department

If there is a legal department or a compliance and contracts department CLOs are responsible for managing them. This includes hiring and training lawyers and support staff, managing budgets, and overseeing the delivery of legal services.

A CLO plays a crucial role in protecting the organization from legal risks and ensuring that it operates in compliance with all applicable laws and regulations. A Fractional Chief Legal Officer can be a flexible and economical way to get these skills into a business.

Benefits of a Fractional CFO

There are many benefits of bringing on board Fractional CFOs to assist a business.  Some of those benefits include the following. 

  • There are no long term employment contracts, bonus structures or equity positions to negotiate with our Fractional or Interim CFOs.
  • The terms of our Fractional CFO engagement can be flexible in regard to time. The length of an agreement and the hours per week or month are tailored to meet the needs of every business.
  • A Fractional CFO will bring a fresh perspective and come with real world Finance and Accounting experience.
  • Most Fractional or Interim CFOs have vetted relationships with other business services provided for staff augmentation, outsourcing, technology consulting, and managed services.

When does a Fractional or Interim CFO Make Sense?

Fractional CFOs can be a superb option for a variety of business scenarios.  Situations we have frequently seen and where we have provided services include: 

  • Current leadership is strong operationally or has specific domain expertise but lack strategic thinking and do not have a broad range of experiences to draw upon.
  • Current leadership has strategic vision but can’t be free from day to day requirements. They need qualified Finance leaders to delegate responsibility to.
  • A current operating model has reached capacity and leadership needs to take a step back and level up.
  • There is an immediate CFO vacancy that needs to be filled while a longer term leader for the role is secured.
  • Current Finance leadership is struggling and needs a qualified and skilled coach and mentor.
  • Current Finance leadership is not up to the task and needs to be replaced.

What can a Fractional CFO do for your business?

CLO-SERVICES

Valenta Approach to Fractional CLO Services

We take the following approach to every Fractional or Interim CLO engagement and provide lasting benefits to our client’s Legal, Legal Operations, Customer Support and Marketing departments.
Access

Assess – When we start an engagement for a CLO we speak with all stakeholders, understand where your business and Legal, Compliance and Contracts departments are today, and document “as is” processes and workflows.

recommended

Recommend – Based on assessment of your Legal, Compliance and Contracts organization, we will recommend best practices specific to your business and market conditions and advise the best courses of action.

Prioritize

Prioritize – We will rank and determine priority actions and the highest value opportunities to optimize your business and the Legal, Compliance and Contracts departments we are offering Fractional CLO services for.

Implement

Execute – We will work with your organization to implement and execute any recommendations and best practices based on prioritization. 

Analyze

Consistency – It is our goal to produce stable and predictable results for all business and Legal, Compliance and Contracts departmental processes and deliverables. 

Repeatability, execution

Repeatability – We will ensure that processes, deliverables, and workflows are repeatable, well-understood and documented.

We will help provide long term optimization and growth for your Legal, Compliance and Contracts activities.

What Can Your Business Expect From a Valenta Fractional CLO

Here is what a business can expect from Valenta Fractional CLO and Interim CLO services.
  • Experienced executives in the area of Law and Compliance.
  • Reasonable costs and fees for CLO services evaluated and established upfront.
  • An approach of continuous improvement for Legal, Compliance and Contracts departments and processes.
  • Documented repeatable processes that an organization can implement and maintain for Legal, Compliance and Contracts departments.

Benefits of a Fractional CLO

There are many benefits of bringing on board a Fractional CLO to assist a business with Legal, Compliance and Contracts Operations. Some of those benefits include the following.
  • There are no long term employment contracts, bonus structures or equity positions to negotiate with our Interim or Fractional CLOs.
  • The terms of CLO engagement can be flexible in regard to time. The length of an agreement and the hours per week or month are tailored to meet the needs of every business.
  • An Interim or Fractional CLO will bring a fresh perspective and come with real world Legal, Compliance and Contracts experience.

When does a Fractional CLO Make Sense?

An Interim or Fractional CLO can be an excellent option for a variety of business scenarios. Situations we have frequently seen and where we have provided services include the following.
  • Outside legal counsel is cost prohibitive.
  • There is consistent day to day activities that require legal expertise.
  • Current Compliance or Contact Management areas struggling and need a qualified and skilled coach and mentor.
  • Current Legal, Compliance and Contracts leadership is not up to the task and needs to be replaced.
  • Current leadership is strong operationally and has industry expertise but lacks strategic thinking and does not have a broad range of experiences to draw upon.
  • Current leadership has strategic vision but can’t be free from day to day requirements. They need qualified Legal, Compliance and Contracts experts to delegate responsibility to.
  • There is an immediate CLO vacancy that needs to be filled while a longer term leader for the Legal and Compliance Departments is secured.

How to Start the Process to Engage a Fractional CLO

Defining a Scope of Work and the needs of your Legal department is always the best first step. We are here to discuss our CLO services. After exploration if a match is established, we will identify and define the exact role. During discovery in addition to scope we can define the time frame and the dedicated hours and days required per month. All aspects of our CLO engagements can be flexible, customizable, and scalable.

We look forward to assisting your business and Legal team. Fractional CLO and Interim CLO services are an excellent option for SMBs, startups, businesses in transition and growth mode.

Please reach out to us here to continue discussions.

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