Banner artwork by Molas Photos / Shutterstock.com
We are extremely grateful for new beginnings, opportunities, and new perspectives in 2023. Learning and adapting remain pivotal for in-house counsel. Begin your new year off right by reflecting on some key takeaways from last year. Take a look at the 11 most-read ACC Docket articles from 2022.
Career advancement
1. Remind yourself of your own greatness
"Whenever you’re doubting why you were asked to do something or why you have the career you have, write down the steps, in detail, you took to get where you are today."
Brittany Leonard
Read this advice to fuel your motivation when you start to believe in the false perception of imposter syndrome.
2. Challenges of the in-house journey
"The best thing you can do is to become highly valuable to your organization starting with what you're doing right now."
James Bellerjeau
Jump into the first installment of the Master Skills to be Effective In-house Counsel series.
3. Tips and tricks for new-to-in-house attorneys
"Be genuine in the way you connect with others and build a strategic network and support system for yourself."
Diana M. Martinez
Use these tips to set yourself apart and give off a notable impression as a new-to-in-house attorney.
4. Helpful legal findings
"CLOs reported a greater emphasis on leadership skills while more junior staff more frequently reported a focus on having time management skills. Skills considered least important were financial management (14 percent), data analytics (13 percent), scientific skills (five percent), and multilingual skills (three percent)."
Blake E. Garcia, PhD
Take note of these 2022 survey findings to help develop and hone in on the skills you need to succeed.
Contracts
5. Reviewing legal contracts
"Be on the lookout for problems relating to the deal, how the contract says what it says, how the law relates to the deal, and how boilerplate is handled."
Michael F. Fleming, Kenneth A. Adams
Follow these different tips on effective ways to review contracts in order to prevent any mishaps.
6. Negotiating with vendors
"If an agreement contains a broad indemnity clause requiring indemnification against all losses from specified causes, and also includes a waiver of consequential damage (saying neither party is liable for indirect damages), the agreement presents an inherent inconsistency unless there is an exclusion for indemnification for direct damages specified elsewhere."
Angela Madathil
Find out how to negotiate and what to look for in specific clauses.
7. Handling bankruptcies
"Pay careful attention to the instructions and prepare and file claims well before the deadline to avoid any mishaps. The consequences of not doing so can be drastic, and exceptions are granted only for excusable neglect, which is a high standard."
Dawn Haghighi, Frederick Hyman, Gregory G. Plotko
For more advice on staying proactive and improving the outcomes of bankruptcies, read this article.
Cybersecurity
8. Advancing cyber safety
"In-house counsel need to understand basic technology aspects of cybersecurity to fulfill their duties and provide effective counsel."
Association of Corporate Counsel
Improve your knowledge and steer clear of cybersecurity attacks.
Managing risk
9. Meeting ESG obligations
"Public companies should stay watchful for books and records demands from shareholders relating to ESG, as plaintiffs could use information sought in these demands to bolster allegations in derivative suits against the company and its directors."
Adwoa Ghartey-Tagoe Seymour, Petrina Hall McDaniel, Sean McGrane
Explore the importance of remaining vigilant when verifying ESG disclosures.
Technology
10. Applying legal concepts to a virtual world
"If success is built on the need for the metaverse to be a trust-based environment, then traditional laws like employment and labor, contracts, IP, and privacy will need to be understood."
Ellen M. Zavian, Norman Wain
Prepare your legal team with the most updated technology changes in the world.
11. How to run a successful legal department
"Accurate gauging of the legal department’s competency to address legal risks can only be determined once legal risks are identified and prioritized. With this knowledge, in-house counsel can explain to businesspeople what resources are needed to limit the risks so that controls can be created and residual risks determined."
James Merklinger, Carole Basri
Learn more about developing a company strategic plan for in-house counsel.
Workplace resources
12. Complying with ERISA fiduciary duties
"When advising clients, in-house counsel should know their organization’s disclosure obligations and how they affect the fiduciary obligations of employer-sponsored group health plans."
James Patton, Susan M. Nash
Stay aware of and know your fiduciary responsibilities.
Disclaimer: The information in any resource in this website should not be construed as legal advice or as a legal opinion on specific facts, and should not be considered representing the views of its authors, its sponsors, and/or ACC. These resources are not intended as a definitive statement on the subject addressed. Rather, they are intended to serve as a tool providing practical guidance and references for the busy in-house practitioner and other readers.
