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Inhouse counsel are different from [[Outhouse counsel|outhouse lawyers]]: more work-shy; less heroic about the number of hours on the bounce they can ensure catatonic [[tedium]] before being stretchered out. | Inhouse counsel are different from [[Outhouse counsel|outhouse lawyers]]: more work-shy; less heroic about the number of hours on the bounce they can ensure catatonic [[tedium]] before being stretchered out. | ||
But then, without the [[time and attendance]] yardstick, the sole dimension of | === The difficult subject of [[value]] === | ||
But then, without the [[time and attendance]] yardstick, the sole dimension of “sustained concentration whilst gripped by the jaws of [[boredom]] and confusion” is no great advantage. | |||
Undoubtedly, there are better ways of describing a lawyer’s worth than simple time spent, though that is not to say anyone in the legal team has yet nutted out what they are. | |||
In this and many other ways are the private and inhouse incentives inversions of each other. Where a [[private practice lawyer]] is a [[profit centre]] — one who profits from ''discord'': the more of it, and the longer it takes to untangle, the better — an inhouse lawyer resolutely is ''not''. Inhouse counsel don’t generate revenue: they can’t — they are not ''allowed'' to. They ''cost'' revenue. This is not just by coincidence: the [[legal department]] is by its very ''[[ontology]]'' a [[cost centre]]. | |||
In this and many other ways | |||
This does not stop giddy [[general counsel]], [[from time to time]], alighting on the idea that perhaps they might like to ''be'' a [[profit centre]]. | This does not stop giddy [[general counsel]], [[from time to time]], alighting on the idea that perhaps they might like to ''be'' a [[profit centre]]. | ||
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“But many of our lawyers are commercial and creative, and they ''do'' contribute to the successful execution of banking deal flow,” the [[General counsel|GC]] will think to herself. She may even articulate this to her management committee, and they will agree: inhouse lawyers are frequently vital. “So, why should we not be credited with our contribution?” | “But many of our lawyers are commercial and creative, and they ''do'' contribute to the successful execution of banking deal flow,” the [[General counsel|GC]] will think to herself. She may even articulate this to her management committee, and they will agree: inhouse lawyers are frequently vital. “So, why should we not be credited with our contribution?” | ||
Here, if she is lucky, a brave soul on that committee will object: for it is easy to be carried away, but there are many simple, axiomatic answers to this question: the importance of segregating those whose mandate is ''defensive'' from those whose role is to seek out reward — that kind of thing. One can quickly become bogged down with distracting details and lose sight of the wood for all the argumentative trees. But there is a single word which should bring a GC to her senses if carried away with such a frolicsome idea: “[[Enron|''Enron'']]”. ''[[Enron Corporation|Enron]]'' is what happens when you turn a control function into a profit centre. | Here, if she is lucky, a brave soul on that committee will object: for it is easy to be carried away, but there are many simple, axiomatic answers to this question: the importance of segregating those whose mandate is ''defensive'' from those whose role is to seek out reward — that kind of thing. One can quickly become bogged down with distracting details and lose sight of the wood for all the argumentative trees. | ||
But there is a single word which should bring a GC to her senses if carried away with such a frolicsome idea: “[[Enron|''Enron'']]”. ''[[Enron Corporation|Enron]]'' is what happens when you try to turn a [[control function]] into a [[profit centre]]. | |||
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