How do you approach managing legal aspects during periods of instability or crisis to ensure the organisation’s resilience?

In periods of instability, it is even more important that legal is fully involved when the short and mid-term company strategy is developed. Legal involvement is crucial as the legal function can play an important role as a risk mitigator. The analytical skills of lawyers can make a difference to the development of the company strategy in challenging times. This, however, requires a solution-oriented approach, a will to take over responsibility and a good portion of decisiveness.

Based on your experiences in the past year, are there any trends in the legal or business world that you are keeping an eye on that you think other in-house lawyers should be mindful of?

The importance of AI has increased even more. In economically difficult times with budget restraints, it is even more important for in-house counsel to use AI tools to be more efficient. It is fascinating how quickly AI tools have developed and how much more useful they have become for the legal function. Although AI cannot replace the judgment and experience of a lawyer, AI tools can help to speed up research and the review of excessive data and, hence, support the legal review of the individual. AI is already able to draft standard agreements with minor impact. The time, which we can free up by using AI tools, can now be used for providing more sophisticated strategic advice. Hence, it is important for every in-house lawyer to embrace the possibilities which AI provides. On the other hand, in-house counsel must shift their mindset and focus more on providing strategic advice and become a trustful and valued business partner.