General Counsel As Business Enablers

Indian businesses are at the cusp of revolutionising the way they function. Dealing with legal compliances and regulatory framework requires not only professional and domain-specific expertise but also an overall guidance with regards to maneuvering long term business goals.

The General Counsel community is growing by the day and its involvement in company operations as a vehicle for enabling businesses has been in focus. The post of General Counsel has assumed importance not just with regards to handling the legal issues of the company but to also advise the organisation on its overall functioning.

In an interview with BW Legal World, Payal Khanna, Director-Legal, Risk Management & Compliance (Cluster India & Sub Continent), said that the role of an In-house lawyer has gone through a sea change.

"We are no longer considered merely a support function but are seen as a ‘legal business strategist’, having seat at the table amongst the Board and are considered an important advisor in key business strategies of the company," added Khanna.

Payal Khanna further said that organisations are looking at in-house lawyers being a ‘Business Enabler’ to help the business achieve its goals in a legal and compliant manner.

"A large responsibility is also on us to continue active engagement with business teams to understand their expectations and enable them to think long term. Lawyers are trained in this manner and can largely contribute to business success by being a key business strategist," Khanna further added.

In house legal departments are increasingly providing end to end solutions to its organisation and serving its intended purpose. General Counsel are being seen not just as a limb of the company but as active business partners in respect of their domain specific expertise and guidance.

General Counsel community, which is growing by leaps and bounds, will be a great supporter for new age businesses.