Qualifications and Role
- A legal counsel needs a law degree and license.
- Provide legal advice on issues and ensure compliance with regulations.
- A counsel gives advice, often about legal matters.
- Qualifications include a law degree, bar admission, and experience.
Duties and Expectations
- Review and interpret legal requirements; communicate to business needs.
- The primary duties include drafting, reviewing, and negotiating contracts and agreements.
- Assist the company in significant business transactions, such as licensing or finance agreements.
- Negotiate terms of contracts to get the optimal agreement.
Differences and Access to Expertise
Is legal counsel the same as a lawyer?
Yes, a legal counsel is a lawyer who advises clients and may work privately or in-house.
What is a qualified legal counsel?
An in-house legal counsel provides advice on legal matters concerning the business. The guidance from legal counsel helps companies decide whether to take action on issues with legal implications. Ensure the company adheres to laws and monitors compliance.