The Changing Role of the Global General Counsel
The Practice
May/June 2016
The power and prestige of in-house lawyers in the United States is only continuing to grow. What does this mean for the legal profession?
May/June 2016
The In-House Counsel Movement
GCs have strengthened their presence in policy debates within the bar and in broader discussions about law and legal institutions. This heightened public profile has helped to cement the GC’s standing as a member of the company’s senior leadership team. Indeed, many top in-house lawyers have traded in the legal-sounding title of GC for the more corporate sobriquet of chief legal officer (CLO) to signal that they are part of the company.
General Counsel in Practice
Even the most astute GC will not succeed if he or she, and his or her department, are not integrated into the organization. Gone are the days in which there were strictly “legal” and “business” matters—if such a division ever existed. Today, as businesses expand into areas where the law is blurry, at best, it is critical that GCs and their departments are involved in business development and strategy from the beginning.
Going Global?
To date, most of the discussion on the corporate legal services market in emerging economies has focused on the growth of domestic, large commercial law firms and the resulting competition between these new entrants and the global giants that are also seeking to serve these markets. If the U.S. experience is any indication, however, the outcome of this competition and the shape of corporate legal services market in emerging economies will vary.
High Expectations for General Counsel; The Resurgence of Convergence
NYSE Governance Services recently released a report forecasting continued growth for the role of general counsel within corporate governance structures.
Asleep at the Wheel?
The case study “Driving Blind at General Motors,” presents GM’s slow-footed response to a widespread safety defect and the resulting federal investigation. Focusing on the actions—and inactions—of the in-house legal counsel in dealing with a faulty ignition switch and related airbag malfunction, this case highlights the missteps that led to the crisis, the leadership’s delayed response, and the consequences for the company.
The Inside Counsel Revolution
Over the past 30-plus years, there has been an inside counsel revolution of increasing scope and power. General counsel and corporate law departments in top global companies have become far more sophisticated, capable, and influential, transforming both business and law in two important ways.
