There is a good reason to consider a lawyer as CEO, but it has nothing to do with litigation or regulation. Boards may be looking beyond an MBA because the real world presents them with a challenge that classic business training has yet to fully comprehend: emotional uncertainty.
When a company is sued, the responsibility of the litigation process falls on in-house counsel. If the in-house attorney is inexperienced or feels uneasy with the litigation process they may turn to outside counsel. However, the in-house attorney is not only missing the opportunity to influence the course of the lawsuit but also ensure savings.
Practice Resources (December 2007):
Tools & Solutions for Doing Your Job Better
Read Chairman White's final Chair's Message as he gets set to turn over the reigns to the new Chair at ACC's Annual Meeting.
Knowing your limitations is the most powerful tool you can have. Read Phil Strauss' witty column on understanding your boundaries.
Susanna McDonald is counsel and the director of information for Claimant Management Systems in Wilmington, DE. Read her commentary on work-life balance and why Fs are good!
This article deals with how to succeed at M&A work for in-house attorneys who have little experience in the subject.