Despite the challenges, all in-house counsel GC spoke to found that being in-house is a significant asset. An advisor who looks at the entire lifecycle of a transaction has a more nuanced understanding of the business and a better assessment of the needs of a variety of stakeholders. These, in turn, allow for a more effective contribution to a project. Exceptional in-house means more than just being a great lawyer – it`s about being a great general counsel. There are a number of discoveries that need to be made and internalized in the first few months to complement the legal talent of law schools and law firms. This is not the same as being the best lawyer, because as Dennis concludes, „the firm benefits the most from having the most complete lawyer with the most comprehensive skills. That would be my advice. „Why do you want to become an in-house lawyer?“ Not only is this question one of the most frequently asked questions during interviews, but more importantly, the answer a person offers gives tremendous insight into the kind of character, motivation, and ambition a candidate might possess. While many lawyers feel they get less demanding work when they leave a large law firm and go in-house, this is simply not the case with many companies. As a cost-cutting measure, more and more companies are keeping their legal work in-house instead of outsourcing it to external consultants. So if you have a large global firm that does much of its legal work in-house and engages in complex transactions or litigation worth billions of dollars, the end result is that its in-house lawyers have the opportunity to work on exciting, high-profile and challenging legal issues that they wouldn`t otherwise have access to. This is even more true for many large law firms, where some employees gain little hands-on experience or interaction with clients.
However, it is difficult to interact with trust without a comprehensive understanding of the roles and needs of the different stakeholders in the organization, especially when it comes to a large organization where many core functions contribute to the business in mysterious and specialized ways. It can be hard to understand how the business works when you`ve put your head down to show everyone what a great lawyer you are. In a company, lawyers often have various long-term career opportunities available to them. Depending on the organization and its size, you may have the opportunity to move from one practice discipline to another in the legal group (e.g., commercial, commercial to regulatory, etc.), to be promoted to leadership positions within the legal group, to move from the business side to non-legal management or leadership positions, etc. In contrast, internal legal environments function more like a team. All members of this team work towards a common goal: the success of your individual customer (the company). As a result, lawyers tend to feel more respected in in-house teams. For example, in a survey of in-house paralegals, more than 49% said that in-house counsel treated them with more respect than lawyers in law firms. In the same survey, only 14% said they enjoy greater respect in the law firm environment. This quote from Amelia Earhart symbolizes the decision to work as an in-house or private lawyer.
It`s a tough decision, and making it doesn`t make the path to that internal work any easier. Another important difference between in-house and private practice is the type of engagement. In private practice, lawyers are consulted as required. You solve the requested problem, and then you leave. The in-house lawyer, on the other hand, is committed to the long term. In the field of patents, the established patent attorney is mandated on a project-by-project basis. For example, a private lawyer may be hired to pursue a patent. The in-house patent attorney will review, advise and coordinate the drafting, but the private lawyer will be the lead author.
Once the patent is written, the private lawyer moves on to the next client`s project. In contrast, the in-house patent attorney continuously analyzes the environment for developments in the company`s areas of innovation, evaluates the patentability of new ideas and innovations, hires private lawyers if necessary, protects the company`s intellectual property and evaluates the right of others to use or not to use this intellectual property. In-house and private lawyers play important but distinct roles for the firm. A competitive labour market contributes to the challenge of obtaining an internal position. To help you land these jobs, create an attractive resume for general counsel who make hiring decisions. To better understand what skills, abilities and experiences create an attractive CV for internal positions, we interviewed a panel of general counsel. Here is a summary of what they told us. An in-house lawyer is a professional who works in a company or organization and provides legal support to the company. Unlike established lawyers who work for law firms, in-house lawyers are employed directly by the companies in which they operate. This strategic role for in-house lawyers is becoming increasingly important. This is evidenced by two surveys conducted by the Association of Corporate Counsel (ACC). A 2013 survey shows that attorneys general need more than a strong sense of law to succeed.
You are considered by the company and the board of directors as head of the legal department, chief advisor and business strategist. When reviewing the following differences between home practice and private practice, keep a few things in mind. First, remember that practicing law is not a cookie-cutter experience. For every difference we have outlined, you can find an exception to this generalization for both internal and private practice. As you read, also think about your strengths, skills, and career aspirations. Where would they be best suited? What would bring you the greatest job satisfaction? Finding this internal position can be difficult. Using your time in law school or in your current role to create a resume that shows you`re ready for in-house practice is an important part of this process. In this section, you will find information to help you prepare for securing an internal workstation. – „I want my work to be put into practice.“ – Many of the lawyers we work with who are looking for an internal move feel that the nature of their roles in private practice may be temporary.
It must be extremely frustrating to spend time and effort on something to see how it is sent without knowing what the result was. Even if your advice in an internal role is noted but not followed, you will at least see the decision-making process from a business perspective, which is always fascinating. In-house lawyers are partners of the firm to ensure the success of the company. This means that you love the company and need to be willing to roll up your sleeves to understand it. This will make you a better in-house lawyer. To do this, take all the business-related courses you can while studying law. Don`t be afraid to check out the courses offered at business school. You can add depth to your resume. In your limited free time, participate in business-related activities that build on your understanding of business and help you develop practical skills. Many companies – especially in today`s economy – find the cost of hiring external consultants too unpredictable and too high.
As a result, companies with frequent or ongoing legal issues often find it more economical to hire an in-house legal team to handle the company`s legal issues full-time from the company`s headquarters. Internal roles can be challenging and under pressure, and it`s often necessary to find quick and clear answers to issues that you can spend hours detailing as a private lawyer. Business awareness is also extremely important – you need to be able to apply your legal knowledge to the business world.
