There is a very wide range of activities that your legal team will be involved with:
- Guide intellectual property (IP) management. This includes the creation of patents, the filing of copyrights, and helping to navigate the international issues pertaining to such.
- Assist with organizational evolution. In addition to organic evolution by creating and growing value streams, organizations may choose to evolve through merging with other organizations, acquiring other organizations, and selling portions of themselves that no longer fit in their enterprise portfolio. All of these activities require significant legal work.
- Provide legal guidance to others. Your legal staff will regularly help teams and people within your organization to understand and navigate regulations in a pragmatic manner. They will also help to educate people in fundamental legal and ethical issues to enable them to make better-informed decisions.
- Automate legal bureaucracy. A 2016 study by Deloitte claims that artificial intelligence (AI) technologies are now being applied to automate a significant portion of legal work. Increased automation help your legal team to Optimize Flow and to focus on leadership and coaching activities.
- Monitor the regulatory environment. Your legal team will actively monitor the environment for new regulations and changes to existing regulations. They will work closely with your Control efforts to help keep them abreast of changes.
- Collaborate with regulators. Large companies frequently work with regulators and legislators to explain their intentions and clear the way for work they want to do.