In house counsel what is

But there are some opportunities NOT the norm In-house in the summer Fortunately, there appears to be a current spike in interest surrounding in-house careers that suggests the programs are safe for now. In-house counsel generally have a better sense of upcoming projects, which lessens the chance of unexpected all-nighters or canceled vacations and allows for a more predictable schedule overall.

Increased business involvement — in many ways, the role of an in-house attorney mirrors that of a BigLaw associate: they draft documents, advise their clients and even get involved with pro bono activities; however, they have the added benefit of working in the same environment as their client, so they're able to gain an insider's point of view on how the company operates by attending business meetings and networking events.

They're often also presented with unique benefits, such as stock options — all of which extends their role from that of a mere adviser to an actual stakeholder in the business. Unique career opportunities — the most common career path for those looking to advance in the in-house world is to ascend the ranks and become a general counsel, the chief lawyer of a corporation's law department. In-house attorneys also have the option of using their corporate experience as a springboard for pursuing a business-related position such as a corporate strategist or business development director.

Among the disadvantages of pursuing a career in-house are: Lower compensation — while in-house counsel are regarded as well paid, they almost certainly receive less than their BigLaw counterparts. Moreover, in-house attorneys rarely benefit from a lockstep compensation model or the gross salary inflation typical of private firms. Little chance to specialize — because in-house counsel are in charge of tackling all of a company's legal issues, they become well versed in a number of areas rather than experts in a single one.

As such, there's little opportunity to specialize in a particular area of interest in the same manner that firm associates can. Limited mobility — an in-house experience can be sufficient preparation for moving into a non-legal career, but many find a transition back into BigLaw more difficult.

Today, the legal officer must be able to analyze and steer the legal performance of his or her department and be able to assess:. To optimize the Business Process Management, in-house lawyers look for tools allowing them to capitalize on their know-how, control legal risks, and produce reliable reports on performance indicators. With its technical features and handling of issues of in-house counsels, the Legal Suite software allows them to be in step with the growing compliance and legal security requirements.

Contact a consultant Request our brochure Subscribe to the newsletter. Imprimer l'article. Read more. This requires sufficient knowledge in a laws related to contracts law, technology law, intellectual property law, real estate laws, etc.

They have to advise the management as well as the other departments like sales, marketing, accounts , etc. You can check out this comprehensive business law course , to enhance your knowledge base and learn the necessary laws and their practical application. To know more about the life of an in-house lawyer read this article.

They have to make reports, presentations, maintain various databases to monitor the ongoing work, etc. Whereas law firms, although deal with similar work profile, it is more focused on a field of law. To know more about how to work your way into a law firm, read this article. So you will be drafting contracts, dealing with clients, advising them, strategizing the best suited deal for your client, giving them the clear limitation of any transaction.

The work of in a law firm and an in-house are similar in many ways. There are drafting of contracts, negotiation, due diligence, document review, liaison with third parties, dispute resolution, etc. But then there are tasks specific to law firms and in-house counsel. You can read more about the specific work functions of a law firm and an-house counsel here. The pertinent thing to remember is that even the in-house counsels go to the law firms when necessary and not the other way around.

In the initial years, it takes a while to adjust to the assigned work at law firms, as they are quite challenging. There are longer hours, volumes of work, lack of intermittent feedback,etc.

These are struggles faced by corporate lawyers in the initial years. Plan your internships according to your interest and intern with the firm of your choice multiple times to see if you can take the grind. That is the easiest way. The simplest way to describe the difference between the two is that an in-house counsel has to be jack of all trades and an associate is more of master of one or two. As an in -house counsel, I had to advise on day-to-day functions of the company along with troubleshooting the possible problems.

Once a third party had sent notice to an international client of ours for copyright infringement. We not only had to quickly step up to protect us and our claim, but to pacify the client that they are safeguarded as well.

We had to keep our clients abreast of every small development, till the dispute was resolved. The in-house counsel has to work not only on the legal issues, but maintain the business relations smoother as well. The fact remains that there is a clear trajectory of growth in both law firms and in-house jobs. The remuneration plays a key role in the decision between the two jobs.

But the payment gap between the top firms and the small firms is huge. The scope of learning is said to be more in a small firm as there are fewer team members compared to the big firm. It is an all hands on deck situation, which requires the optimal utilisation of even the associates.

Remember, if you know your craft, remuneration will soon follow. But if you spend your time unsuitably, then you risk the long game for short-term gain. So choose wisely. For in-house lawyers there is the scope of changing industries from a telecom company to a start-up or a media company.

They can also join law firms in future.