Nervous directors seek assurance from the general counsel that all is well
with the corporation's legal compliance system. If, after being assured that is
the case, the corporation then runs afoul of the law or exposes itself to
significant civil liability, the directors will inevitably ask, "Where were our
lawyers?" "Why did they let it happen?" and perhaps, "If this incident was
permitted to happen, how can we be sure that these lawyers won't fail us again?"
Directors' concerns are understandable. In today's climate where each day
seems to bring a new corporate scandal, directors are increasingly uneasy about
their own exposure to liability. Today, even the best D&O policy is not
bullet-proof and there are serious questions about a corporation's ability to
protect a director where he or she fails the "good faith" test. It will not take
long for directors to realize that their best protection against liability is a
"state-of-the-art" law department or to conclude from bitter experience that
their company's legal department falls short.
A "state-of-the-art" law department is on top of its game. And its game is
only as good as the information available to its lawyers. Beginning with our
September issue, we initiated a focused editorial effort to document corporate
counsels' need for adequate staff and other tools to meet today's governance and
compliance challenges while at the same time encouraging related seminars for
local corporate counsel audiences like that taking place in New York on October
14 - which generate articles and interviews for us to share with our readers.
We provide corporate counsel in every practice area in your department with
an ongoing stream of compliance-oriented articles. These will help your law
department remain "state of the art."
To benefit from our efforts, it is important that all members of your
department receive The Metropolitan Corporate Counsel . We will be
pleased to provide free subscriptions to them. Your practice benefits from
The Metropolitan Corporate Counsel . Keep your legal department
world-class by helping all its corporate counsel to share in those benefits.
Just go to www.Metrocorpcounsel.com/subscribe and follow the