Over the past few years, the National Association of Corporate Directors (NACD) has witnessed the evolution of the scope and the stature of the role of general counsel. Once seen solely as legal advisors, general counsel are now regularly called upon to provide the board with an objective opinion about the company's strategy based on their legal and ethical training. Almost 70% of NACD's full board memberships have a general counsel on their board roster. As part of our continuing goal of equipping boards with the information they need to create long-term value for businesses, NACD is launching a brand new initiative: The Strategic-Asset GC.
The Strategic-Asset GC initiative recognizes the unique position general counsel hold relative to their boards of directors, and provides a unique view into how today's general counsel are helping to shape strategy in the boardroom.
This NACD effort will aim to provide general counsel unique insights from directors, subject-matter experts, and fellow general counsel to help identify effective strategies for continued partnership with the board. Led by a General Counsel Steering Committee, The Strategic-Asset GC initiative will include a quarterly webinar series, a peer-to-peer event, and GC-specific resources.