Breaking out of the box
To serve clients and communities in the post-Covid world, it is no longer enough for corporate lawyers to contain themselves to legal issues alone.
THE recent months of pandemic-induced lockdown has made us all familiar with seeing ourselves, family, friends and business contacts contained within "boxes" that are now found in the ubiquitous virtual meeting platforms such as Zoom and Microsoft Teams.
As we transition into the post-pandemic's new normal, we are all challenged to respond creatively and innovatively to this changed paradigm. Lawyers are no exception. We will need to go beyond the "box" of being just mere lawyers in the post-Covid world.
In a recent study conducted by Gartner Inc, less than 10 per cent of general counsels (GCs) play an executive role in their companies. In a separate poll initiated by Gartner, which is a NYSE-listed research and advisory firm, it was found that only 8 per cent of GCs embraced the role of a corporate executive that went beyond their legal role, even though 46 per cent claimed that it was their ideal role. More than half of the GCs polled (59 per cent) indicated that they only served as lead attorneys for the corporations they work for, focusing on legal issues and related tactical work.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Columns
‘Competition for talent’ a poor excuse to keep key executives’ pay under wraps
OCBC should put its properties into a Reit and distribute the trust’s units to shareholders
Why a stronger US dollar is dangerous
An overstimulated US economy is asking for trouble
Too many property agents? Cap commissions on home sales
Time to study broadening of private market access