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Simple English definitions for legal terms
general counsel
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A quick definition of general counsel:
General Counsel: The person who is the top lawyer for a company. They make sure that the company follows all the rules and laws. They help different departments in the company with legal things like contracts and hiring. They need to be really good at understanding the law and have lots of experience. Sometimes, small companies hire a lawyer from a law firm instead of having their own general counsel.
A more thorough explanation:
The general counsel is a top lawyer who represents a business. They can work for the company or be hired from an outside law firm. The general counsel is also known as the chief counsel or legal director. They report directly to the company's headquarters and are responsible for identifying and managing legal risks in all departments.
For example, the sales department may send contracts to the general counsel to ensure they comply with regulations. The Mergers & Acquisitions department may work with the general counsel to build their M&A model. The general counsel may also advise the Human Resources department on employee recruiting.
The general counsel must have expert skills in data collection and legal analysis, with at least 5-10 years of experience in relevant fields. However, some small businesses may not be able to afford a full-time general counsel and may instead hire outside counsel from a law firm.