And the challenge could be getting a company’s board to accept that.
A new study out of the United Kingdom found that there is a gap between a company’s general counsel and its board of directors in understanding legal risks.
The Legal Risk Benchmarking Study interviewed 100 general counsels around the world. The results found that general counsels had a good understanding of legal risks, while the board had a poor understanding. This, according to the study, could lead GCs to be too optimistic when facing these risks.
Here’s our question for you:
Do you think there is a gap between general counsels and a company’s board of directors in understanding legal risks?
Leave a comment below or email me.
Need to Know:
- President Obama chose former Defense Department general counsel Jeh Johnson to succeed Janet Napolitano as Homeland Security secretary.
- Fiji Airways hired a new general counsel.
- Northrop Grumman Corp. hired a former Aol Inc. deputy GC.
- Nationwide Building Society’s general counsel Liz Kelly quit weeks after the company began a panel review.
- What it’s like to be the assistant GC at National Air Traffic Services.
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