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

One of the significant changes we see in technological advancements is leveraging big data for strategic decision-making. As the legal counsel is a critical player in business analysis and decision-making, this AI will enable us to analyse large quantities of legal data and reach data-based decisions on negotiations, budgets, and more.

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

Emotional intelligence is probably the most significant quality required to be successful as an in-house lawyer. The in-house counsel is a business partner and an influencer in all critical decisions and transactions of a company. Effective legal counsel should be able to communicate productively with all relevant stakeholders, understand all parties and different interests involved, and make sure the targets are clear and that all are moving in the same direction. It requires walking a fine line between maintaining a good relationship with colleagues and management while acting as gatekeeper and providing the business with straightforward legal advice, which does not always agree with their request. In cases where the business request cannot be obtained due to legal restrictions and exposures, the counsel should be able to draw the line and come up with creative alternative practical solutions.

What can law firms do to improve their service to the legal department?

The most critical parameter for an external law firm is having the relevant expertise and a specific understanding of the company’s industry. It is expected to be familiar with the practices used in the industry and provide rapid, professional, and clear feedback to the general counsel, including the recommended solution to the specific issue while considering the risks associated. The external law firm should couple its advice with a proactive, positive solution while avoiding a lengthy legal discussion with no clear, practical recommendation.

In addition, providing educational efforts by the external law firm on relevant legal development and updates to assist in preparing in advance for the expected changes is imperative.

Any proactive training effort would be most effective if the external law firm made sure to select the specific info relevant to the company rather than sending a general newsletter, which might be overlooked.