Need
A London based investment fund with a sole in-house lawyer required support for higher volume workstreams and general commercial contracts which would integrate into the existing legal frameworks of the business, whilst offering value for money as against employing a junior resource in central London who would need development and supervision.
Our Solution
IHLS were able to install its Transaction Support Solution seamlessly for negotiation of both disclosing and receiving NDAs and similar documentation, replacing a competitor alternative legal service provider who were seen as expensive and installing overly complex documentation and process. The team was also able to provide on demand support for a range of commercial contracts including complex IT and similar agreements. IHLS was able to plug straight into the existing contract approval mechanism including the completion of contract summaries and obtaining partner sign off and signature as an extension to the existing in-house team. IHLS was also able to pick up resource intensive projects relating to GDPR and the material outsourcing rules under the FCA rules which were critical to the fund but would not have been able to be achieved internally
Benefit
IHLS’s Transaction Support Solution was able to simplify the funds processes around disclosing of its confidential information using its detailed market knowledge of standard positions and contractual terms, ensuring that its positions were market and proportionate to the risk. Management of commercial legal risk allowed the internal head of legal to focus on critical legal risk and fund work while working seamlessly with the business, at rates that were extremely cost effective as opposed to retaining an employed lawyer in central London’s high cost environment. The relationship between IHLS and the business added to the business decision to outsource the GDPR and material outsourcing projects which IHLS was able to deliver on time and on budget, enabling the fund to satisfy its legal and regulatory obligations without putting undue strain on the internal team or causing the fund to incur significant cost.