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17 Young Law. (ABA) 1 (2012-2013)

handle is hein.journals/yglwyr17 and id is 1 raw text is: At Their Service: Outside Counsel's Role in Working with Large Corporate Clients By Stephanie P. Hales Stephanie P. Hales is an associate with Sidley Austin LLP in Washington, D.C., where she practices in the Healthcare and Government Strategies groups. The key question for large corporate clients is not whether outside counsel can help-but how. In particular, how can outside counsel be most efficient for the company in the most cost- effective manner? Younger lawyers in particular can benefit from, and cultivate strong internal and external relationships by, understanding the ways in which outside counsel's services and resources can effectively assist and support large corporate clients. The Nature of Outside Counsel Large, complex companies-by their very nature-have large, complex legal issues. As large corporate clients strive to maintain vigilance and mitigate risk over the long term, outside counsel are at their service to assess and assist in managing those issues once they arise, such as through a litigation matter or government investigation. Just as crucially, outside counsel provide a broad array of proactive services that can promote diligence and facilitate the identi- fication, mitigation, and, in many cases, resolution of latent issues before they explode into full-fledged lawsuits or crises. Ahead of the Curve: Proactive Services Just as regular check-ups can reduce the risk of medical emergencies, so too can proactive legal services aid clients in addressing potential issues before they develop into legal crises. For example, large corporate clients, such as pharmaceutical companies, can work proactively with outside counsel on the following types of matters. Regulatory Advice and Counseling. Which laws and regulations apply to the company, its operations, and its proposed initiatives? What does compliance entail, and is the company pro- ceeding optimally? Outside counsel can add value by assessing these questions from an exter- nal perspective, but with industry-specific expertise that is focused on the client's particular attributes, needs, and circumstances. Published in The Young Lawyer, Volume 17, Number 1, ©02012 by the American Bar Association. Reproduced with permission. All rights reserved. This information or any portion thereof may not be copied or disseminated in any form or by any means or stored in an electronic database or retrieval system without the express written consent of the American Bar Association.

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