General Counsel Protocol: In from the dark
The current corporate climate has highlighted the crucial role general counsel can play in overseeing the smooth running of their companies. But with no widely accepted definition of what their duties and responsibilities should be, many general counsel are failing to fulfil their potential. This week's Global Legal Forum in St Andrews Bay features a bid by leading general counsel to draw up a protocol that defines where general counsel should sit in the businesses they advise, what their terms of reference should be and where their principal responsibility should lie. Here Philip Bramwell, general counsel and company secretary at mm02, explains why such a protocol is needed, while Andrew Gallagher, deputy general counsel at BAE Systems, launches the debate with his own draft for such a protocol
Has there ever been a better time to be a general counsel to a UK plc? Recent highly-publicised corporate failures in the US and Europe have raised the corporate governance expectations of investors in listed companies and politicians, and with this has emerged a greater appreciation of the value of checks and balances around executive management.
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