The role of in-house counsel is a balancing act that needs to be actively managed to ensure success:
In-house counsel are playing an increasingly critical role within private and public companies. He or she is now often responsible for many functions/departments such as risk, compliance, intellectual property management, restructurings, corporate secretarial, etc. General counsel in particular are almost invariably members of the senior executive management team, and are required to forge a very close working relationship with the CEO, COO, CFO, and the board of directors. In-house counsel are required to balance legal obligations towards the corporation as well as towards its stakeholders (i.e. its employees, shareholders, and the communities within which it operates). This means balancing responsibilities with regard to the day-to-day management of the corporation and at the same time always acting in the best interests of the stakeholders and preserving the corporation’s assets.
Read: Managing the broader role of in-house counsel at Canadian Lawyer Magazine