In a recent IFLR article, Thompson Coburn Corporate & Securities partner Julie Hellmich was quoted on the mounting pressures on in-house legal teams and how external counsel offers value.
“In-house counsel in the US are under immense pressure to control their legal spend,” said Julie. “They value external counsel who can offer innovative legal process management solutions that allow in-house and external counsel to work collaboratively in real time to deliver faster service.”
Julie elaborated on the evolving role of the legal function in the US, noting its increasing perception as both a legal and strategic business partner. “External counsel are expected to understand business goals and provide tailored, strategic solutions,” she said. “The focus should be on identifying a solution that allows in-house counsel to say ‘yes’, while also identifying the risks associated with that.”
She explained the true value external counsel can provide goes beyond merely delivering the “correct” answer, “but in training lawyers to provide clients with strategy implications and making sure that the client has the resources to move a project forward.”
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