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Legal Needs of a Merchant Processing Company – Benefits of Engaging an Outside General Counsel

It is crucial for a merchant processing company to have a strong legal team in place to protect your business from potential liabilities and ensure compliance with state and federal regulations. One way to achieve this is by utilizing the services of a general counsel legal team.

A general counsel legal team, also known as outside in-house counsel, is a group of legal professionals who are employed by the company to provide legal advice and representation. They are typically responsible for advising management on a wide range of legal issues that arise in the course of operations, including contract preparation, review and negotiation, intellectual property, compliance, employee issues, transactions and risk management.

One of the main benefits of having a general counsel legal team is that they are intimately familiar with the unique needs and challenges of your business. They understand the industry and are able to provide quick and accurate legal advice that is tailored to your specific situation. This can save your company time and money in the long run as legal needs arise in the course of day to day operations.

Another key benefit is that a general counsel legal team can help your company stay compliant with state and federal regulations, especially in this current rapidly changing regulatory environment. Merchant processing companies are subject to a number of complex laws and regulations, including those related to credit card processing, data security, and consumer protection. A general counsel legal team can help ensure that your company is following all relevant laws and regulations, which can help reduce the risk of costly fines and penalties.

In addition, a general counsel legal team can help your company identify and manage potential liabilities. They can prepare and review contracts, assess risk, and provide guidance on how to mitigate potential legal issues before they become major costly problems. This can help protect your company’s assets and reputation.

Finally, having a general counsel legal team can help your company build stronger relationships with customers and partners such as agents, ISOs, banks and equipment leasing companies. They can help resolve disputes in a timely and efficient manner.

In conclusion, utilizing the services of a general counsel legal team can provide merchant processing companies with a range of benefits, including industry-specific legal advice, compliance with regulations, risk management, and stronger relationships with customers and partners. This can help ensure the long-term success and growth of your business.

Contact the experienced attorneys at Beress & Zalkind PLLC to discuss your legal needs and how general counsel services can work for your business.

Our attorneys are licensed in New York, New Jersey and Florida.

Reach out by calling 212 390 0325 or 718 513 3588 or by email at info@bzlawgroup.com.

About the Author

Ella Zalkind
Ella Zalkind
editor

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