Forming partnerships with third parties has emerged as not only a necessary feature but also a top growth strategy for companies in the manufacturing industry. However, internal collaboration is also a vital component of thriving in disruption, which should not be overlooked by general counsel and nonlegal executives.
As the role of the general counsel becomes more of a strategic business partner in addition to a legal advisor, collaboration with other internal functions will help the general counsel meet their companies' expectations. Partnership with nonlegal business executives provides access to their business acumen as well as the ability to more closely monitor their operations from a legal point of view.
Greater consensus and cooperation on important issues between legal and nonlegal executives will go a long way toward helping manufacturers make decisions that will be compliant, while at the same time optimal for the business.
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