The Changing Role of Corporate Counsel
![handle is hein.journals/emlj46 and id is 1211 raw text is: THE CHANGING ROLE OF CORPORATE COUNSEL
Carl D. Liggio*
INTRODUCTION
The 1990s have seen corporate counsel' take on a more prominent role in
the provision of corporate legal services, while the role of outside counsel has
become one of an episodic provider of legal services. In fact, corporate coun-
sel have become the dominant providers of legal services to corporate Ameri-
ca.
To understand the nature of this changing role and its significance for the
future, the evolution of corporate counsel is best evaluated against the back-
ground of two questions: 1) Is the past prologue, and if so, what part of the
past is prologue; and 2) Is the role of corporate counsel currently undergoing
a Darwinian evolution? The answer to both questions is yes--depending on
the period of time used for this analysis. The role of corporate counsel has
undergone a major transition in the past two decades and is currently in a
renaissance. However, to appreciate this evolution, one must look at three
periods in the life of corporate counsel.
I. THE GLORY THAT WAS CORPORATE COUNSEL-
THE 1920s AND 1930s
The twenties and thirties were the golden years of corporate counsel-a
time when their professional and business advice was considered critical and
* This article is intended to chronicle the changing position of corporate counsel in the legal commu-
nity over the last 30 years. It originated as material for several speeches given at American Bar Association
(ABA) and American Corporate Counsel Association (ACCA) programs as well as at the Thrower Sympo-
sium at Emory University School of Law. The author is one of the founders of the ACCA and served as
General Counsel of Arthur Young & Co. and its successor Ernst & Young. He has been named as one of
the National Law Journal's 100 Most Influential Lawyers in America (1985, 1988, 1991) for his role in
bringing the position of corporate general counsel to the preeminence that it enjoys today. [Editor's note:
Much of this article is based on the observations and personal knowledge of Carl Liggio or was obtained by
him in the course of his role in the development of the corporate bar. Citations to unpublished materials
have not been independently verified by the editors.]
' Throughout the context of this article, I refer to corporate or employed counsel as those individuals
who are primarily on the legal staff of their clients and do not hold themselves out to the public at large, as
do retained or outside counsel.](ViewImageLocal?handle=hein.journals/emlj46&div=35&collection=&method=preview&ext=.png&size=3)
What Is HeinOnline?
Contact us for annual subscription options:
Already a HeinOnline Subscriber?
profiles profiles most
The Changing Role of Corporate Counsel
Contact us for annual subscription options:
Already a HeinOnline Subscriber?
profiles profiles most