I am currently the Head of Legal, Compliance & Company Secretary for India sub-continent and part of the India Leadership team. My role is to support the business to achieve its strategic goals and vision through a two-fold strategy. First, protecting business by having legal compliant processes and practices, defending the interest of the company through pro-active and reactive litigations, training people in legal & compliance matters specifically anti-corruption, antitrust, privacy, ensuring qualitative contracts and its management. Secondly, creating opportunities for business by using new legal trends, laws, judicial precedents and practices. As part of the growth markets team I also support occasionally cross border contracts in other countries where mandated.
My journey as a GC has been optimal mix of learnings in different functional areas (apart from law), hands on legal subjects but also diverse businesses and cultures- which helped build my overallperspective to problem solving but also understanding the levers of business on the basis of which decisions are taken. Initially, in my career I got the opportunity to work in a plant at Himachal not only as legal and company secretary but also contributing in finance and commercial matters. The exposure of working in a plant with diverse exposure on finance, banking operations, commercial issues, labour laws and above all in a listed company- helped built a strong professional foundation. Post this- I headed the legal function for a renowned german company in India for almost 10 years during which I could learn and also contribute in diverse legal matters, complex contracts, multiple (small, big and complex) litigations and overall how the GC can contribute to build strong processes to manage risk and strengthen governance. The opportunity to work on international projects and interact with colleagues across the globe helped in building a global perspective to things and an international working approach. At Signify currently, where innovation, radical collaboration is a way of life- the GC is expected to be nimble and a fast thinker to provide quick and robust solutions to complex problems also in all compliance and legal matters.
GC’s are not simply legal professionals but strong business leaders who are expected to bring business value to the leadership table. The earlier avatar of being a third arm advisor to Management on legal and compliance matters no longer is the mantra and now GC’s not only need to proactively advice but also take joint ownership with business on all strategic decisions. GC’s need to- more than everhave indepth knowledge of business ( probably more than their counterparts) and accordingly are expected to take a holistic view giving a balanced consideration to both risk and opportunity when giving their views. Risk is inherent in all business decisions but the question that GC’s grapple with is- how to balance risk with benefits. One of the toughest role of a GC is to serve a conscience keeper or the “North Star” of the company.
A typical GC day comprises of multitasking by advising on multiple regulator regimes- legal metrology, environmental or by a complex contract negotiation with short dead-lines, negotiations and meeting with external counsels on varied complex legal issues, a Competition law advice, strategizing with the team on a recovery proceeding on what is the best legal strategy- a civil suit, a demand notice under the new Insolvency and Bankruptcy code or a criminal action, and lastly facing a compliance dilemma under anticorruption law where there are no clear answers. GC’s face numerous situations where law is not clear, judicial precedents are constantly changing goal posts, business demands are dynamic, regulatory action is picking up and he needs to give advice or take a decision balancing all these aspects and consider not only what is legal but what is ETHICAL as well. Hence, managing time qualitatively and tactfully is imperative basis the multiple spheres in which GC’s operate continuously.
The few challenges for a GC are:
Lately, strong privacy laws as is being developed (in many developed countries) and evolving around other parts of world brings new and interesting challenges and times for inhouse lawyers to bring their expertise and learn in this uncharted territory, especially when India is also coming out with their own set of privacy laws. This also substantially enhances the risk portfolio of a GC on compliances.
what GC’s looks in law firms is firstly good understanding of our business needs and then expertise in desired areas, promptness, reliability and lastly flexibility in fees. In today’s era of constantly changing law, judicial pronouncements and overall fast moving external environmentit is expected that law firm regularly update the in-house community on these changes and also how these may impact business in terms of risk and also creating opportunities.
Recently, GC’s are also advising on legal issues on other jurisdictions especially on contracts and litigation and hence law firms which have good associate network outside India will stand an advantage.
Law firms should revisit their fee model i.e. they should not charge hours which are spent on learning the problem or business case and only charge on hours during which value is created or solution provided. This will be game changer to bring efficiency and also drive conscious value creation. I am also a strong proponent of fixed fee model per assignment instead of hourly rate system and hence law firms should be open to fixed fee model which leads to certainty in fees, quick turnaround, greater clarity in scope but needs a hawk eye on quality deliverable by in-house. The Partners of the firm also need to be spend more time on assignments to bring their experience on the table.
Law is in a continuous state of flux consequent to new laws as well as every changing judicial pronouncement and hence GC’s will always be law students. With this ethos in mind- GC’s need to take out time every day for keeping themselves abreast with changing laws and judicial orders and assessing how they are impacting business. They should subscribe to latest law journals and mailers. Secondly, networking and sharing best practices with fellow GCs is also paramount to sharing best practices and learning from diverse industry practices. Keeping abreast with latest technologies in the legal field which will not only support legal work but also enhance our digital footprint. As a GC is also a leader managing teams- he or she should also learn and stay tuned to latest management and leadership skills which will help him to lead effectively his team but also collaborate efficiently with other stakeholders.
A career as an in-house counsel is a demanding career and one has to demonstrate high integrity, knowledge, attention to detail and most important expertise in one’s field. It is important that one has strong communicating skills and collaborative approach with different stakeholders. As an in-house lawyer- one should plan the career in such a way that there is initial law firm experience combined with initial exposure in other functions like finance and commercial to understand the “business rationale” and approach. This will provide a holistic perspective when addressing legal problems. One is always a student in this field and is a career requiring continuous learning and adaptation.
Lastly, I would like to place for all who want to take up this noble profession- what Mahatma Gandhi wrote-
“A true lawyer is one who places truth and service in the first place and the emoluments of the profession in the next place only.
Gadget – My iphone
App – Linkedin and Fitbit
Automobile Brand – BMW
Favourite Writing Instrument – My Fountain Pen
Favourite Holiday Destination – Australia
Favourite Cuisine – Anything that my wife cooks especially South Indian.
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