A peak in activity, an acquisition to be completed, the need to comply with standards... There is no shortage of reasons to call on interim legalmanagement, a fast and precise response to a given problem. Here's an overview of when to use interim legal management.
Every year, listed companies are required to produce a URD (Universal Registration Document), which must be presented at the Annual General Meeting of Shareholders. We also have to prepare for this AGM, draft resolutions, send reports to the financial authorities, ensure that invitations are sent out on time...
" Most companies that close their financial year on 12/31 have to carry out these actions before April or June, i.e. 6 months of very intense activity," emphasizes Arnaud Desclèves, President of IMfinity. It is often necessary to integrate a legal profile capable of managing this crucial phase in the life of a listed company, and to liaise with general management, the finance department, the financial communications department, as well as HR and compliance teams, in order to best anticipate these deadlines. Interim legal management gives us the opportunity to surround ourselves for these few months with an expert in the field.
In fact, some professionals dedicate themselves exclusively to this type of mission.
Every year, major retailers hold mandatory negotiations with their suppliers. Thousands of contracts are discussed line by line between hundreds of producers and purchasing teams. And every year, they have the same deadline in mind: March1, by which time everything must be completed! "It's complex, voluminous and highly specialized. We have to go into commando mode to meet the legal deadlines. Bringing in an outside expert with legal interim management can strengthen teams or steer operations, with a concern for harmonization, consistency and compliance."
Some sectors are particularly sensitive to the economic climate. This is the case for banks, which are directly affected when the government launches PGEs (state-guaranteed loans) or when a change in interest rates accelerates demand for credit. "Banks then have little time to react and structure their organization to meet market demands. Unpredictable, these movements require immediate adaptation, to which the legal interim manager can contribute."
Whatever the sector, some companies are regularly looking to buy out others. This entails numerous files, negotiations and contracts to draw up. It is possible to set up an ad hoc team to carry out these tasks. "But business is irregular: there are no constant opportunities, and certain external events bring projects to a halt, such as Covid. To avoid fixed costs even in periods of inactivity, there's only one solution: opt for legal interim management."
In the event of structural difficulties, such as a redundancy plan or a sale to be carried out, legal interim management can support the company in this transitional phase, with its expertise in such matters. "In such situations, the right resource is rarely found in-house. Bringing a fresh perspective to the problem can simplify and accelerate the process.
It's a frequently encountered situation: the company is running smoothly, growing steadily, but doesn't take the time to keep up with the latest legislation and standards. Until the day comes when it's time to catch up! Ethics, compliance, RGPD... Legislation has evolved enormously in recent years, and companies don't necessarily have the right profiles to bring them up to speed. When faced with this specific need, enlisting the skills of a legal interim manager provides a solution that's as fast as it is effective.
The digital and environmental transitions are leading to the emergence of new professions. This is the case, for example, with renewable energies, artificial intelligence, robotics and autonomous cars. All of these activities require experts, contracts, calls for tender, and therefore legal expertise! "Unless a successful emergency recruitment is carried out, it can take several months to complete the process. In the meantime, legal interim management provides the skills needed to get on with the job without wasting time."
And how do you go about hiring a legal interim manager? By contacting the legal interim management firm IMfinity if you're looking for a manager, HERE. And if you would like to join IMfinity as a Manager, let's get in touch, HERE.
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