Exam 1 Outline.docx - Law as Strategy Current Situation...

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Law as StrategyCurrent SituationCompanies placing more value on legal capabilities2000, 24% of companies had lawyer directors2014, 44% of companies had lawyer directorsSuccessful companies use the law as a strategy to create competitive advantagesCorporate Legal Strategy1.Avoidance (ENRON) – Avoid regulationsManager perception of law: costly and barrier to businessManager’s level of legal knowledge: Lacks basic legal knowledge/awareness. Goal is to use the law to exploit regulatory loop-holesGoal of legal counsel: Acts as a firefighter; only called in an emergency2.Compliance (UPS) – Strategic noncomplianceperception of law: necessary constraint on managerial actionlevel of legal knowledge: Basic legal knowledge and awarenesslegal counsel: acts as a police officer; oversight role necessary to police managerial conduct3.Prevention (XEROX) – Assess legal and competitive landscapes – patent facingperception of law: can be used to prevent business-related riskslevel of legal knowledge: good level functional legal knowledge sufficient to coordinate a business-issue preemption strategy with attorneyslegal counsel: identify specific future risks that can be addressed with the law4.Value (MACYS) – Legal strategies that result in a tangible value creation that can beaccounted for on a financial statement.perception of law: used with the goal of creating tangible, identifiable valuelevel of legal knowledge: High degree of legal knowledge and its impact on the companylegal counsel: Entrepreneurial and a partner in creating value.5.Transformation (IBM) – Long term resource when law is combined with the business model and core competencies – patent factoryperception of law: essential aspect of long-term strategic planninglevel of legal knowledge: Sophisticated and broad levels of legal knowledge across functional areaslegal counsel: Legal counsel is entrepreneurial and a partner of the highest levels of strategic decision makingLegal Analysis and Discrimination
When can you fire someone?You can fire someone at any time…EXCEPT you cannot use a prohibited reasonRaceGenderSexReligionAgeEtc.Legal (Judicial) opinionsLegal writing is designed to convey new legal rules and the pattern for the application of those rules. The purpose of the writing dictates the seemingly awkward form and grammar of legal opinions.Reading law casesLegal opinions are structured using the same basic structure:IssueRule(s)AnalysisConclusionThe court will describe Facts in a way sufficient to do the legal analysisCase Heading – tells us some important things about what we will see in text of the caseOpinion of the Court – no suspenseThe issue and, in the last two words, the court’s conclusion, are stated right up front so that there is no question about what the rest of the case is going to be about.

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