Insourcing of Legal Services

published on Entity Management, Legal Risk Management
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:
  • 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.
Boards, CEOs and other business leaders have increasingly recognized that hiring outstanding general counsel and other inside lawyers is vital to the twin goals of the global corporation: high performance with high integrity. Companies require ICT tools to support this trend to insource legal services. With the right infrastructure, both inside and outside counsel can work for a company with the same data. Companies will not accept the the old fashion approach of Law Firms storing and managing all information of their clients on their own intranets. We believe that a company needs to control its own data. In the future, all legal service providers, both inhouse and outside, will work together on the infrastructure provided and owned by the company. We focus on helping our customers with the best infrastructure for legal management. Legisway is the leading platform to control your corporate governance, legal risk management, contract management and legal compliance.