While there are several initiatives and forums where, the general counsel community speaks of serious knowledge dope on topical legal and regulatory aspects, Lex Witness goes a step aside and gets into a candid coffee table conversation. Have an interesting read through.
I run the Legal, compliance and regulatory practice for Freecharge. Though the main focus is on transactional advisory, contract management and regulatory compliance, we also advise the senior leadership on corporate compliance, intellectual property matters, employment matters, M&A and all issues relating to company’s strategic operations and relationships.
I had worked on diverse profiles and distinguished companies. I started my career as Compliance Officer of a Stock broking company, worked as Company Secretary for listed companies, had a short stint in practice, headed the litigation and finally landed nine years back in the world of e-commerce and e-payments, Though sometime I face critics for my multiple stints, I must say the journey, so far was full of challenges and learning every day and every moment with rich exposure to challenges in corporate and practice.
Yes. The General Counsels being an indispensable member of executive leadership cannot limit them to legal and regulatory issues and have to see the bigger picture and give strategic advise most of the times beforehand. The organizations are expecting from the leaders to build energized teams and turn individuals into co-leaders, come out with vision and ideas, play a role of business leaders than an advisor on a phone call. Nowadays you don’t enjoy in work-life balance but feel satisfaction in working more and more and more participation.
I think the day-to-day challenges differ from industry to industry and can’t be simply listed out in some illustrative list. If I restrict it to E-Commerce, the buzzword for everyone is “frictionless”. The rapidly changing digital world is willing to take more and more risk and expect constructive support from the legal function. Risk mitigation is the regular challenge. The business demands more and more interaction with product and technology counterparts and addressing the issues at origination.
We do use the law firms mostly for the limited purpose of advisory on contemporary regulatory issues and corporate structuring. We also deal with the law firms representing our external business counterparts, merchants, service providers, clients etc. What is needed is that in-house counsels should apprise their law firm counterparts and law firms should take the download of the changing business needs where legal function can no longer act as merely the watchdog or barrier/checkbox to business. A close coordination and apposite briefing of nitty-gritty of the business and products is needed so as to fetch the optimum level of expertise from the law firms.
There are lot of webcasts and online learning programs nowadays becoming available and can be utilized than to wait for the books to be published.
In my view, one should start developing business acumen from the beginning alongside strength of knowledge in the legal domain to achieve the timely success.
Favourite Gadget – Any Apple
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Favourite Writing Instrument – Reynolds
Favourite Holiday Destination – Kodaikanal
Favourite Cuisine – Indian and specially Dal Bati
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