Posted Apr 01, 2011 09:07 pm CDT
When a top in-house lawyer is deciding how to approach an unusual problem, it might well be helpful to talk with a seasoned counterpart. But even for a corporation’s general counsel, deciding who to call and wondering how much the session might cost can be daunting.
Apparently sensing a marketing opportunity, Reed Smith has established a general counsel practice group made up of lawyers who themselves formerly worked as top in-house lawyers. And the firm is offering their expertise for free to general counsel of the law firm’s client corporations, reports Corporate Counsel.
Because the members of the practice group often consult with each other, those who make use of the hotline may well get the benefit of multiple points of view from those who have sat in the same seat in the past, the article notes.
“I’m not aware of any other law firm in the country that, in a systematic way, is trying to collect that expertise” and offer it to clients, says partner Carl Krasik of Reed Smith’s Pittsburgh headquarters.
Krasik, a former general counsel of what is now known as Bank of New York Mellon Corporation, is one of four former GCs in the practice group.