Role of In-House Counsel in Transnational Operations
Abstract
A fundamental role of in-house legal counsel is to assist the operations teams in identifying, assessing and tailoring their procedures to ensure compliance with applicable requirements and to address the risks associated with the business and legal environment in which the company’s products are to be sold or services are to be performed. This role is especially critical for transnational companies who are looking to sell products or perform services in a foreign jurisdiction (Host Countries). Failure to invest the necessary time, money and effort to identify and understand the unique conditions and requirements impacting such work in a given Host Country not only jeopardizes the profitability of the company, but can expose the company to substantial civil and criminal penalties for failure to comply with the applicable requirements.
