What's Happening?
Minh Merchant, in her role as general counsel, has taken an unconventional approach by drafting the earnings script herself. This decision, typically not within the legal department's purview, has allowed her to gain a comprehensive understanding of the company's commercial, financial, and operational aspects. By doing so, Merchant has positioned herself as a strategic business partner, rather than just a legal advisor. Her approach involves engaging directly with the sales team through ride-alongs, providing her with insights into customer interactions and sales strategies. This hands-on involvement enables her to align legal advice with the company's operational realities, enhancing the legal department's impact.
Why It's Important?
Merchant's strategy underscores the evolving role of in-house counsel from traditional legal advisors to integral business partners. By immersing themselves in the business's operational aspects, legal professionals can anticipate issues and provide more relevant and proactive advice. This shift is crucial for companies seeking to integrate legal insights into their strategic planning and operational execution. It highlights the importance of cross-functional collaboration and the need for legal departments to adapt to the dynamic business environment, ultimately benefiting the company's overall strategy and compliance.
What's Next?
In-house legal teams may increasingly adopt Merchant's approach, seeking deeper integration into business operations. This could lead to a broader trend where legal departments are more involved in strategic decision-making processes. Companies might encourage their legal teams to engage in similar cross-functional activities, fostering a culture of collaboration and proactive problem-solving. As this approach gains traction, it could redefine the role of in-house counsel across various industries.
