Corporate counsel checklist

Hitesh Mehra offers critical tips for lawyers on striking successful partnerships with in-house counsel

Indian law firms have taken long strides to enhance their corporate practices. Despite being smaller than their counterparts in the West, Indian firms have demonstrated versatility across practice areas and developed specializations through boutique service offerings. Law firms have also shown vast improvements in their ability to handle large onshore transactions and coordinate skilfully with correspondent offshore law firms.

Corporate counsel at multinational enterprises (MNEs) consider several factors when deciding which law firm to engage. Law firms with a client-centric approach are more likely to be successful candidates. When targeting MNEs, lawyers should be both reactive – responding to, and fulfilling a client’s request for assistance – and proactive – showcasing their firm’s offerings to create the framework for a high-impact relationship. This is unachievable unless lawyers understand a client’s strategies, buying needs and habits in a bid to draw up a long-term revenue plan (usually three years).

Excellent legal service hinges on a two-pronged strategy – investing in industry expertise to better grasp client concerns and developing solid relationships within a client’s organization. Managing partners should be instrumental in coordinating revenue generation and cultivating legal finesse within their practices.

Hitesh Mehra is the general counsel at Ernst & Young Pvt Ltd. The views expressed are personal to the author.