Abstract

http://ssrn.com/abstract=1577907
 
 

Footnotes (94)



 


 



Innkeepers: A Unifying Theory of the In-House Counsel Role


Omari Scott Simmons


Wake Forest University School of Law

James D. Dinnage


Villanova University Law School

March 24, 2010

Seton Hall Law Review, Vol. 41, p. 77, 2011
Wake Forest Univ. Legal Studies Paper No. 1577907

Abstract:     
The emergence of the in-house counsel role, or “innkeepers” in the terminology of this Article, is one of the most significant shifts in the legal profession over the past half century and this development inevitably has implications for legal scholars, policymakers, and practitioners. A concise, all encompassing, theory of the in-house counsel role has proven elusive for legal scholars, as well as a comprehensive analysis of in-house counsel impact on business enterprises. In order to fill this significant gap in the legal literature, this Article articulates a unifying theory of in-house counsel value creation positing that the strategic in-house counsel role, embodying consistent interaction with corporate operations and actors (e.g., management and employees), enables the modern corporation to significantly enhance its creation of value. Paradoxically, this theory further illustrates that being an innkeeper (i.e., an embedded employee with a single client) is not a vice, as often assumed by many legal observers, but rather is a virtue promoting more pragmatic resolutions to a range of corporate issues. The strategic tasks that in-house counsel undertake add value, when completed by competent professionals with well-honed ethical sensibilities, because they are fundamentally different from the largely tactical role of outside law firms. Beyond providing a novel descriptive assessment of the in-house counsel role, our theory has significant implications for corporate governance, the legal profession, and legal education.

Number of Pages in PDF File: 76

Keywords: general counsel, in-house counsel, corporate governance, corporations, business, transaction, compliance, ethics, legal profession

Accepted Paper Series


Download This Paper

Date posted: March 26, 2010 ; Last revised: September 19, 2011

Suggested Citation

Simmons, Omari Scott and Dinnage, James D., Innkeepers: A Unifying Theory of the In-House Counsel Role (March 24, 2010). Seton Hall Law Review, Vol. 41, p. 77, 2011; Wake Forest Univ. Legal Studies Paper No. 1577907. Available at SSRN: http://ssrn.com/abstract=1577907

Contact Information

Omari Scott Simmons (Contact Author)
Wake Forest University School of Law ( email )
P.O. Box 7206
Winston-Salem, NC 27109
United States
(336) 758-4493 (Phone)

James D. Dinnage
Villanova University Law School ( email )
299 N. Spring Mill Road
Villanova, PA 19085
United States
Feedback to SSRN


Paper statistics
Abstract Views: 852
Downloads: 199
Download Rank: 88,181
Footnotes:  94

© 2014 Social Science Electronic Publishing, Inc. All Rights Reserved.  FAQ   Terms of Use   Privacy Policy   Copyright   Contact Us
This page was processed by apollo3 in 0.360 seconds