Why Lawyers Should Have a Seat at the Table

Corporate boards of directors traditionally have largely been made up of CEOs. The thinking has been that to guide the company, financial acumen and management expertise are of primary importance to protect shareholder interests. Left out have been lawyer-directors, historically perceived to lack the breadth of business skills necessary to steer the enterprise.

But in an increasingly global and regulated business environment, as well as one characterized by emerging opportunities and evolving risks, the time has come for boards to broaden and diversify beyond traditional director backgrounds. The governance structure needs to more than call upon its general counsel (GC) when problems arise. Increasingly, directors can benefit from having legal expertise in the boardroom, to advise when strategic decisions are made and attendant risks are being assessed.

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