Worldwide business transactions are some of the more exciting aspects of corporate operations today, and the role of chief legal officers (CLOs) and general counsel (GCs) continues to evolve. While corporate lawyers must be well versed in all aspects of the law affecting their businesses, they are frequently called upon to provide global business operation solutions to their companies.
More in-house counsel are working together as a result of greater worldwide business collaboration, thanks to extensive free trade networks like that of Singapore and China’s robust economy offering new territory for business transactions.
Companies doing business in today’s global economy work at the intersection of ever-changing laws and expanding operations. The confluence magnifies legal and compliance challenges. Although in-house counsel work for dozens of industries in hundreds of countries and are employed by thousands of organisations, their concerns are surprisingly universal. Thus, the responsibility to identify issues of top concern increasingly falls upon CLOs and GCs, as their organisations confront unchartered waters.
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Veta Richardson is the president and chief executive officer of the Association of Corporate Counsel