Disclaimer: Laurice Lambert left Trellis Rx while this research was being conducted, in August, 2022.

What are the most significant cases or transactions that you have recently been involved in?

The most significant transaction was the sale of Trellis Rx to CPS. The sale closed on June 1, 2022. As general counsel for Trellis, I prepared the company for the sale from a corporate, regulatory and compliance perspective, and worked closely with the bankers and outside counsel to close the transaction. The transaction was subject to FTC review in connection with an HSR filing and I took a lead role in the antitrust strategy for ensuring HSR approval of the transaction.

As we enter the next decade, what skills will a corporate legal team need to succeed in the modern in-house industry?

The outside counsel fee-for-service model is ripe for disruption. Over the next ten years, as newly minted attorneys shy away from climbing the “big law” ranks due to the often-unsustainable demands that billing by the hour brings, I think we will see a shift in both the outside counsel model as well as the internal corporate legal model. We may see companies compensating internal legal team members more to encourage them to join their teams and mitigate against increasing outside counsel fees. Additionally, in-house lawyers will need to become adept at utilising technology (including AI solutions) to manage and draft contracts, draft, and maintain policies and procedures, and manage litigation, as well as in connection with due diligence in M&A.

Additionally, it will be important for internal legal teams to use data to demonstrate the effectiveness and efficiency of the legal department. To the extent possible, internal legal teams will need to have metrics and internal goals to demonstrate how they, not only help mitigate risk to the company, but drive growth and revenue, by being strategic thought partners, committed to providing deliverables in reasonable time periods.

How do you suggest in-house lawyers build strong relationships with business partners?

This is such a critical skill. The number one way that in-house lawyers can build strong relationships with their business partners is by taking the time to learn the business. If the business is “in the field” – get out of the “office” (or the house) and get into the field. For example, when I joined Trellis, I visited our health system client sites to see our ground operations first-hand and really get a feel for the business.

It is also important to ask questions and listen more than you speak in the beginning.

Lastly, it is important to distil advice and guidance on a risk spectrum and allow your internal business partners to decide as to the level of risk the company is willing to accept. I often use colours – green means go, yellow is acceptable, but as a risk approaches orange or red, I caution strongly against it. A great legal business partner distils risk down and counsel business leaders on the actual risk and ramifications to the business.