In organisations big and small, in-house lawyers are increasingly being asked to play a more strategic role. In addition to being legal experts, General Counsels (GCs) are taking on added responsibilities as senior managers and business leaders. The C-Suite looks to the GC to provide up-to-date, accurate information on a wide variety of legal matters, combined with strategic legal advice to base important business decisions.
But are GCs equipped to adapt to that change when it comes?
Changing Role: From reactive to strategic
According to “The General Counsel Barometer 2017” study from Wolters Kluwer and Raconteur, 38% of European General Counsel respondents noted that forming and implementing business strategy has become a major focus in the past three years, while 54% of respondents agree this focus will grow over the next three years.
However, as the report looks at GCs in smaller corporate legal departments, just over half feel that their role has been reactive and functional, with very few GCs able to become strategically focused compared to those is larger companies.