LEGAL
An inside job: Becoming a valued strategic business partner
For several months, I've been trying to pull a number of themes and thoughts together under a single banner, and what I've come out with is: "The Legal Department as a Strategic Business Partner." You're probably thinking, "Yeah, yeah, yeah – every in-house leader has been saying that's what they want to be/are for as long as there have been in-house counsel." Even though everyone seems to be saying it, what the heck does it mean to be a "strategic business partner"? Even I admit, as a law practice management consultant, that it sounds like "consultant speak" or "management speak."
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A new playbook for Capital One: Accelerating the speed of legal advice
At 4:30 p.m. every day, you will find Nathalie Clark conducting a huddle with her legal team at Capital One Canada. They review the work of the day and any new requests for assistance from the business units. It's all part of the "lean and agile" work culture Capital One's legal department has been trying to foster in the six months since Clark arrived. Clark says it's a very different thing to have a legal team operating in this environment that deals primarily with the needs of getting financial products to market.
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Overcoming overbilling
Before we get started, take a moment and try to remember the last legal bill you received as in-house counsel. Now think about this: What would your outside counsel say if you asked them, honestly, whether they would pay their own bills? If it was their money, do you think they would staff matters differently or work more efficiently? Would they believe they were getting good value from their legal spend?
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Six pillars of engagement: What you need to know about using AFAs in litigation
In recent years, increasing numbers of corporate legal departments have explored alternatives to the traditional hourly rate method of law firm billing in litigation matters. As a firm that has actively embraced such alternative fee arrangements (AFAs), Goodwin Procter has amassed both a substantial track record of using AFAs to help our litigation clients meet their goals and a team of professionals with extensive experience in fashioning and implementing AFAs.
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The top cases of the Supreme Court's next term
With the start of the next Supreme Court term only a little less than two months away, there are already a number of important cases on the docket of which corporate counsel should take note. Although more will almost certainly be added to this list as the term progresses, here are the top four cases currently set for review by the high court.
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Board oversight of social media compliance; Securities fraud liability for corporate insiders; Online interest-based advertising
What counsel need to understand to ensure proper board oversight of social media and the changes in online interest-based regulations. Plus, the recent decision that will have corporate counsel establish appropriate and well-documented ownership roles and responsibilities and control protocols to narrow the scope of securities fraud liability for their officers and employees.
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Top 10 tips for using independent contractors
Using independent contractors instead of employees can save companies money, increase their staffing flexibility, and reduce their exposure to litigation under federal and state employment laws. Properly classified independent contractors are not employees and are not entitled to the rights granted solely to employees. Employers do not have to pay employment taxes on their behalf or pay them minimum wage or overtime pay under the Fair Labor Standards Act (FLSA).
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