- The general counsel, not the senior partner in the law firm, is now often the go-to counselor for the CEO and the board on law, ethics, public policy, corporate citizenship, and country and geopolitical risk.
- There has thus been a related, dramatic shift in power from outside private firms to inside law departments.
Insourcing of Legal Services
Ben W. Heineman Jr., former General Counsel at G.E., wrote an interesting blog on the website of the Harvard Business Revieuw on the role the General Counsel. One of the most important developments of the last 25 years in the Legal Service Industry is the rise in the role, status and importance of the general counsel and other inside lawyers employed directly by the corporation. The following two critical trends for major companies in the U.S. — and increasingly in Europe and Asia — are mentioned: