Amid financial difficulties, Foxo Technologies, a $500 million AI startup that focuses on underwriting life insurance through artificial intelligence and genetic innovations, has discharged its general counsel, Michael Will. As a consequence of the firm’s current financial constraints and imperative personnel reductions, Michael Will’s employment was terminated only a year after the company went public….
LegalOn, one of the largest providers of AI contract review technology in Japan, has recently entered the U.S. market. Following its successful launch last December, the company now plans to expand its services to contract drafting with the introduction of LegalOn Templates, a compilation of more than 100 standard market templates that have been created…
In recent legal world developments, partners from two renowned law firms, HFW and Pinsent Masons, have decided to step away from their firms to take on general counsel roles. Notably, HFW’s Ben Bury has taken an in-house position with Gammon Construction, while Pinsent Masons’ Alexander Shepherd has joined Evolution Data. Such transitions underscore the evolving…
In a recent interview with Corporate Counsel, Zabrina Jenkins, former General Counsel for Starbucks and current adviser to CEO Laxman Narasimhan, reflected on her in-house career. Her path to Starbucks was by no means linear, she stated, emphasizing the importance of embracing various experiences without making premature judgements about their inherent value. “While it may…
In a growing trend across sectors, business leaders are drawing on the strategic advisory role of their chief legal officers. This pattern is becoming especially notable in law firms, where general counselattorneys are increasingly claiming a spot in high-level executive deliberations. The following insights were gleaned from a recent article by Michele Gorman, published on…
The upswing in the in-house legal hiring market seems to be gaining momentum as general counsels make an effort to bring more work in-house amidst the backdrop of receding economic uncertainties. This trend arrives in light of an increased intention to streamline costs and exert greater control over legal operations within organizations. As outlined in…
In 2022, legal chiefs in the technology sector significantly surpassed their peers in other industries in terms of earnings, despite the tech industry facing considerable layoffs and a downturn in stock prices. This revelation comes as findings from Corporate Counsel and ALM Intelligence’s 2023 General Counsel Compensation Report indicate that eleven out of the twenty…
In a notable turn of events, the Memphis School of Law has found itself under scrutiny surrounding allegations of racism. Additional details surrounding the situation are anticipated as the institution attempts to provide clarification. While this unfolds, there is news on the Biglaw front. Perkins Coie, amongst other firms, are bolstering their forces in response…
There exists a burgeoning recognition amongst law firm personnel of the importance of understanding business intricacies. This concept has been frequently reiterated by BTI Consulting CEO Michael Rynowecer, who asserts that a thorough comprehension of the business forms the foundation of a prosperous relationship between General Counsel and outsourced law firms. Companies and law firms,…
The benefits of establishing trust and influence, particularly for general counsel (GC), are of paramount importance, particularly during periods of significant change. Successfully pivoting can be a challenging process, as change often faces resistance from employees comfortable with the status quo. Through their ability to persuade and motivate, influential leaders, such as the GC, can…
As the world continues to evolve in response to the pandemic, the legal sector is witnessing a shift in its paradigms. The era when General Counsels (GCs) operated remotely, which became the norm in the years following the outbreak of the coronavirus, appears to be coming to an end, according to a report on Corporate…
The Securities and Exchange Commission (SEC) recently announced a new cybersecurity final rule. This ruling has brought about a level of uncertainty, particularly regarding the understanding of roles and responsibilities of key business leaders. Not only does it involves heightened monitoring of public companies, but also the increased efforts needed by organizations to ensures protection…
As the age of remote work presses on, a notable shift has been observed within the landscape of corporate law firms. The perceived “Remote GC Revolution”, a move towards basing General Counsel roles remotely, seems to be losing its spark. Initially, these roles appeared to herald a new era of convenience and accessibility in the…
The concept of remote general counsel (GC) appears to be dwindling as more employers now require their teams to work from their principal place of work. This marks a significant shift from the trend seen in early 2022, when a reported half of all general counsels in the midst of job searches wished to work…
UniSuper General Counsel Luke Barrett embodies a distinctive approach to his in-house practice. Nearly 20 years ago, when switching from private to in-house, Barrett made a fundamental promise to himself. Far from relying upon outsourcing for unfamiliar or complex issues, he disallowed himself the luxury of limiting his professional knowledge to the point of his…
In May of last year, the General Counsel of the National Labor Relations Board (NLRB), Jennifer A. Abruzzo, sparked legal debates with her release of Memorandum 23-08. In contrast to standard practices, the memorandum suggested that employers leveraging non-compete agreements might be in breach of the National Labor Relations Act. Previously, Abruzzo had not implicitly…
The National Labor Relations Board (NLRB) has recently issued a complaint against a company over the maintenance and enforcement of noncompete and non-solicit provisions. The General Counsel of the NLRB is pressing the unexplored legal theory that such agreements transgress the stipulations of the National Labor Relations Act (NLRA). This action aligns with the NLRB’s…
In times of economic uncertainty, legal departments within corporations are increasingly seen as pivotal tools in the management of risk and fostering business growth. A greater comprehension of how macroeconomic trends influence the thought process of senior in-house lawyers pertaining to litigation and risk management could potentially assist these departments in better serving their businesses….
In a noteworthy development earlier this year, the General Counsel of the National Labor Relations Board (NLRB) issued a memorandum stating that numerous employers’ imposition of noncompetition and related agreements potentially infringes upon the National Labor Relations Act. Such agreements, it was argued, could interfere with employees’ rights to negotiate with their employers and to…
The role and responsibilities of a modern General Counsel (GC) are transforming rapidly, especially in the digital age. Today’s GC is moving beyond the traditional purview of managing legal risk, ensuring compliance mandates, and safeguarding the organization’s reputation. They are expected to be strategically relevant, innovative, and able to drive positive business outcomes. The GCs’…
A federal court in New Jersey has recently handed down a significant judgement in a case pertaining to the Foreign Corrupt Practices Act (FCPA). The court ruled that a company’s voluntary disclosure of potential FCPA violations did not transform the company into a state actor. As a result, the evidence gathered through the company’s internal…
In an effort to fortify national security through vigorous corporate enforcement, the US Department of Justice (DOJ) appears increasingly committed to prosecuting corporate crimes that have national security implications. This focus marks a defining characteristic of the DOJ’s work under the Biden Administration. The National Security Division (NSD) of the DOJ seems to be directing…
Legal panels have seen significant evolution in recent times due to stricter selection criteria and the increased competition to make it to a company roster. These panels have become more defined with general counsels insisting that firms demonstrate their value and purpose. Moreover, slimmed-down rosters have become more prevalent. A recent scrutiny of U.K. panel…
In a recent switch up in its legal leadership, Microsoft has promoted two in-house lawyers to defend its proposed $68.7 billion acquisition of Activision Blizzard Inc. The tech giant still faces antitrust challenges from the Federal Trade Commission regarding this procurement. The corporation is banking on the elevated legal leadership to navigate through the regulatory…
Ryne Miller, former U.S. general counsel of cryptocurrency exchange FTX, recently opened his firm concentrating on regulation, regulatory investigations, and crisis management for blockchain and traditional financial firms. The announcement of his new endeavour, coming after an undeniably tumultuous tenure at FTX, serves as a testament to his resilience and adaptability within a rapidly evolving…