Trusted legal advisor. Risk manager. Corporate conscience. In this brave new world, general counsel are expected to fulfill each of these roles within their respective organizations.
Gone are the days of unlimited legal budgets with little oversight. The fallout from the 2008 global financial crisis continues to put the spotlight on legal departments and their operations. Consequently, new responsibilities have emerged for in-house leaders. Today’s empowered general counsel have also added strategic business partner, effective crisis leader, and efficient operations manager to their growing list of roles.
With these ever-increasing responsibilities, it is no wonder GCs are kept up at night preparing for and responding to cyber-incidents, assessing and mitigating risks, ensuring compliance amid a shifting regulatory landscape, managing a budget, and helping business to meets its strategic objectives.
In keeping with the methodology of the first General Counsel Up-at-Night Report, the fall 2017 research surveyed U.S.-based general counsel and in-house lawyers on their departments’ approach to two primary areas: (1) confronting five key categories of substantive legal issues (i.e., regulations and enforcement, risk and crisis management, privacy and data security, intellectual property, and litigation); and (2) managing operational and sourcing strategies.
Taken as a whole, our 2017 research provides a window into the current mindset of general counsel and serves as a strong indicator of those areas that will require the closest attention in 2018.
Download the second edition of the Report for the latest insights into each of these areas. Interested in participating in upcoming surveys? Sign up here.
If you enjoyed reading the second edition of the General Counsel Up-at-Night Report, learn more about the inaugural study results.