13 ASIAN LEGAL BUSINESS – INDIA E-MAGAZINE WWW.LEGALBUSINESSONLINE.COM In-house Insight HOW GENERAL COUNSEL CAN SET THE GOLD STANDARD BY ISHA RATHNAM Over my close to 20 years in the legal profession, I have heard and read many preconceived notions about in-house versus law firm experience. While some of them are true, a few are misplaced, and some have evolved over time. In both scenarios, as a lawyer, one requires astute analytical skills; cookie-cutter work exists everywhere, and the client is God. That said, having worked through the rungs as an in-house counsel in welloiled systems to leading teams, I have come to a clear deduction: Being a good lawyer is not the only defining factor in being an effective in-house counsel. As I began penning this amidst the Paris Olympics, I took the liberty to equate a top-functioning general counsel to the highest metallic accolade awarded to sportspersons. This analogy propelled me to think further that the comparison doesn’t end there. Similar to sports where one plays against another individual or team, an effective GC should, in equal measure, possess both proactive and reactive qualities. Moreover, they should have the ability to gauge when to implement and harness each or both of these qualities. Sportspersons representing countries that are recognised powerhouses of sports get ample infrastructural support in the form of the best coaches, facilities, and training. In contrast, those representing countries that are still finding their feet do not have the entire gamut of facilities yet must still compete and deliver. Similarly, a general counsel of a burgeoning business must keep the team lean, negotiate better terms with bigger entities, and litigate matters with stringent resources. They must hustle, be hands-on, evolve with the changing needs of the business, and make business-savvy decisions. In honour of all the finishers who came in fourth and missed the podium by a whisker in Paris 2024, I’m listing the top four key characteristics of an effective general counsel of a growing business: Get down to business: Understand the business inside out and become aware of how the industry operates and its standard practices. As a general counsel, you need to speak the language of the business, not theoretical jargon meted out in an opinion. Management needs actionable advice. To bridge this gap effectively, in-depth knowledge of the industry, its practices, and culture is crucial. A good GC must make productive decisions aligned with business objectives while taking into consideration potential ramifications. Knowing how the business functions at the micro level will aid in leading cross-functional teams and help tackle complicated compliance issues, business processes, and litigation. Money saved is money earned: Whether it’s the selection of external counsel, implementation of software, or team size, choose wisely based on the operational and business needs, and plan judiciously. Leverage cost savings through tactical negotiations, being cost-effective, and standardising processes, practices, and materials that reduce costs over the longer term. These are some ways of achieving lower costs, which is extremely critical to business. The GC can demonstrate that their office is not just a cost centre but in many scenarios is generating and saving revenue. Take calculated risks: From contract disputes to intellectual property issues, regulatory compliance to employment matters, a GC is the first port of call to build the defence. GCs who are proactive and strategic can pre-emptively anticipate issues before they arise, articulate potential risks to the business, and make informed decisions based on those risks. A GC is continuously straddled between making decisions that may involve a degree of calculated and acceptable risk and recognising risks that are unacceptable because they may have downstream business effects. Build value for the legal team: You are only as good as your team. Historically, in-house counsel in traditional setups were treated as paper pushers and a reactive support function. To ensure that this regressive mindset does not reappear, it is pertinent that the GC showcases the qualitative and quantitative value that the lawyers bring to the organisation as a whole. To successfully do so, it’s important to train the team to maintain consistency in delivery and timelines, keep open lines of communication with all other departments, and be a proactive partner to the business. A well-functioning legal team may not get applauded as much as an inconsistent one will be criticised. Therefore, building and maintaining a highperforming team is crucial for the GC’s success and the organisation’s overall legal health. About the author Isha Rathnam is the chief legal officer for Lionsgate Play Asia. Based in Mumbai, she has close to 20 years of experience in the M&E Industry, focusing on intellectual property, commercial and entertainment laws. ALB is soliciting articles from in-house counsel based in India for its bi-monthly e-magazine. For submission guidelines, email nimitt.dixit@tr.com.
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