The latest report Over the horizon: How corporate counsel are crossing frontiers to address new challenges, is a follow-up to the 2012 General Counsel (GC) survey taking a closer look at the broadening role of GC. The report shows that GC are becoming increasingly interconnected across business operations and strategy and examines the way GC help to manage risks and considers the skills that will be required in the future.
The objective of this publication is to highlight the evolving requirements of GC and to point out the growing need for a judicious blend of legal and business savviness in order for GC to remain relevant in the evolving legal world. It emphasizes that GC need to be in a position to foresee and forestall possible future crises. It also outlines the following key points that companies need to keep in mind:
In the increasingly changing business world, GC are becoming further involved in matters that are not strictly legal advice – with involvement in risk management, compliance, finance, regulation, HR and business issues as well. The role of GC is evolving such that they anticipate, advise, control, and communicate to different parts of the corporation. As GC continue to cover a broader role, it is likely the Board and senior management will ask for even more from their GC.