What is the story about?
What's Happening?
Minh Merchant, an in-house lawyer, has taken an unconventional approach by drafting the earnings script herself to gain a deeper understanding of business operations and investor expectations. This move highlights the importance of in-house lawyers embedding themselves into the business to provide valuable insights. Merchant emphasizes the need for lawyers to transition from a purely legal perspective to a business-oriented mindset, advocating for active participation in business activities such as sales ride-alongs. By doing so, lawyers can better anticipate issues and align legal advice with the operational realities of the company.
Why It's Important?
Merchant's approach underscores the evolving role of in-house lawyers as strategic business partners rather than just legal advisors. This shift is crucial for aligning legal strategies with business objectives, ultimately enhancing the company's overall performance. By understanding the business at a granular level, lawyers can proactively address potential legal issues, thereby reducing risks and fostering a more integrated approach to corporate governance. This strategy can lead to more effective compliance programs and policies that reflect the actual business environment, benefiting both the legal department and the company as a whole.
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