If ProShare Advisors LLC’s legal department had a motto, it would be "small, but mighty." With just four attorneys working at the company’s Bethesda, Md., headquarters, general counsel Amy Doberman said they have to be efficient and work as "utility players," able to jump in if a colleague is overloaded. ProShares specializes in alternative exchange-traded funds, which means its in-house lawyers not only handle everyday legal work, but also manage highly complex financial transactions. The team focuses on making sure they fully understand the company’s products, Doberman said; she tries to avoid using outside counsel, except in litigation, so that lawyers feel engaged in company operations. "We feel like we’re really participating in the growth of the business," she said.
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