In-House Counsel As The New Architects Of Corporate Strategy

In-house counsels are no longer confined to the courtroom, acting as vital risk managers and business enablers, providing strategic advice to steer businesses through complex regulatory landscapes

In-house counsels are no longer confined to the courtroom, acting as vital risk managers and business enablers, providing strategic advice to steer businesses through complex regulatory landscapes. As businesses navigate a world of growing risks and regulatory challenges, the role of in-house counsel has emerged as a linchpin in shaping corporate strategy.In-house legal counsel is emerging as critical strategic partners, transcending traditional legal boundaries to become pivotal risk managers and business enablers.

Complexities Of Corporates

Lakshmi Menon, General Counsel, HPE India acknowledges the nuanced challenges of being in-house legal counsel. “It's one of the toughest roles to essay in an organisation. As in-house lawyers, it’s about doing things the right way. Every day brings new challenges and opportunities. Some of us see them as battles; others view them as chances to turn businesses around. Our role extends far beyond what is typically defined,” Menon explains. She emphasised that legal professionals must operate as problem-solvers, collaborating seamlessly with diverse stakeholders, from finance teams to auditors.

Menon adds, “In a hybrid work environment, it’s imperative to speak a common language so everyone understands the issues and risks clearly." She captures the essence of the modern in-house counsel's dilemma of balancing business representation with independence remains challenging. "When giving hard-hitting advice, you sometimes feel conflicted because performance metrics often depend on business perceptions”, she stresses. 

Risk Management

Rajiv Choubey, Senior Executive Director and Group General Counsel at Dalmia Bharat Group emphasises, "There is no business without risk." He underscored the critical responsibility of general counsel to act as gatekeepers, challenging business leaders to examine potential downsides in every transaction.

"Making business leaders understand what can go wrong is the biggest challenge today," Choubey notes, stressing the importance of providing nuanced legal perspectives that balance caution with strategic insight.

Manish Lamba, General Counsel, DLF Cyber City articulates a philosophical yet pragmatic view on risk-taking. "Risk is something we all live with. The key is not avoiding risk entirely but managing it intelligently. Like friction is necessary for a car to run smoothly, legal teams provide the necessary resistance to prevent organizational missteps", he explains. 

Lamba offers a compelling metaphor, suggesting that in-house lawyers should be like "salt" in an organisation - their presence should be subtle, but their absence profoundly felt.

Data: The New Oil

Zameer Nathani, Group General Counsel at CarDekho highlights the role of in-house counsel in managing risks within data-driven organisations. He shared a detailed six-step strategy implemented at CarDekho to handle the mammoth volumes of data they process.

“Data is the new oil but with that comes immense responsibility. For instance, a single food delivery app collects nearly 100 data points per order while your iPhone collects 190 data points daily. In our organisation, we have clear policies on data classification, consent management, risk mitigation, and database oversight to ensure compliance and user trust,” Nathani says.

He stresses that even the most secure platforms, like AWS and Microsoft Cloud acknowledge the risks of hacking. Businesses must prepare robust systems for data protection and mitigation strategies in case of leaks. Risk management in a data-rich environment requires stringent governance.

Evolving Legal Landscape

Abhishek Bansal, Founder and Partner, Acumen Juris highlights the evolving relationship between external counsel and in-house teams. “As external counsel, our role is to complement and assist in-house counsels. We bring specialised knowledge to help strategise, mitigate risks and manage evolving legal frameworks.”

Bansal emphasised the importance of a multi-scenario approach to risk management. “We must always look at plan A, plan B and plan C. Risk can never be eliminated entirely but by negotiating and strategising, we ensure businesses are prepared for worst-case scenarios.”

"Legal is no longer just the lifeblood of business in this digital age, it is the guardian and protector of a company's brand, reputation and stakeholder trust", he concludes.

 

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Reema Bhaduri

BW Reporters The author is the Editorial Lead at BW Businessworld. Majorly writes on marketing, advertising, experiential marketing and retail. She closely looks upon the vertical of BW Marketing World and BW Retail World.

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