Looking forward, what technological advancements do you feel will impact the role of in-house legal teams in the future the most?

Several technologies may very well impact the role of in-house legal teams such as organisational tools/ apps which allow concise categorisation and prioritisation of tasks as well as distribution among team members and follow up sessions or deadlines.

Another would be a contract review and monitoring system ensuring a clear process from draft to execution including signatory execution in a timely manner. An additional important feature would be extraction of all major terms, payments and dates. I also think a safe communication tool or app allowing rapid conversations and data sharing on a secure platform will impact in-house legal teams. Lastly a complete, categorised and quickly accessible legal database for all team members.

What would you say are the unique qualities required to be successful as an in-house lawyer in your industry?

The essence of the in-house counsel position in our industry, the biotech investment space, is diversity. The position is encompassing and includes more than merely acting as the legal persona of the organisation. It requires working in a meticulous methodical fashion in order to juggle varied legal aspects and “clients”, including, the fund, general partner, management company, limited partners, potential limited partners, co-investors and portfolio companies. An in-house counsel in the investment space needs to be business savvy and provide tailored solutions to complex business matters. A successful in-house counsel needs to be proactively involved and engaged in all processes in the organisation. He/she needs to be part of the decision making instead of being last on the chain of command when the train has already departed. Finally, the in-house counsel needs to have good communication skills manifested while communicating with colleagues, service providers and other “clients”.