The Role of the GC

Welcome to our Elevate Debate series. Featuring industry leaders and Elevate Experts supporting and defending an approach, a viewpoint, or a practice.

This episode features Elevate co-founder and Head of Innovation, Pratik Patel, with Jason Barnwell, Microsoft, Assistant General Counsel, and leader of Modern.

Modern is driving the strategy and execution to digitally transform and modernize Microsoft’s legal department practices and ways of working.

  • [01:22] – Topic: If you’re a general counsel and you can’t drive 1% net earnings, you should step aside
  • [02:17] – Let’s make it spicy; 1% is not enough
  • [03:37] – The First point of descent, if I’m a GC, I will probably over-index on long term value
  • [05:50] – Velocity – structure around inputs and outputs
  • [07:10] – Reactive legal depart response
  • [09:03] – IACCM survey suggests 9% of revenue; could be net income leakage during the contracting process
  • [12:12] – There is a need for a mind shift
  • [13:25] – Many see themselves as a risk manager
  • [15:20] – Legal has access to business intelligence that can assist the business and drive value
  • [17:10] – Love the idea of activating entrepreneurism
  • [18:00] – The Socratic question

Enjoy!

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Podcast Transcript

Note: This transcript has been adjusted to improve readability. Transcripts are generated using speech recognition software and human transcribers. The context and more than 95% of the actual transcript have been preserved. We strongly encourage you to listen to the audio file.

 

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