We talk again with Kenny Tung, long-time China-based General Counsel in the region at companies such as PepsiCo, Goodyear, Honeywell, and Kodak. A deeper dive into how the legal industry is changing and what young lawyers should consider when deciding to go in-house. Kenny recently published an excellent related article in Legal Business World - https://www.linkedin.com/pulse/going-in-house-changing-marketplace-kenneth-tung/
1:58 – How has the legal industry changed in the last few years?
8:38 – How “biglaw” came about and how it is hit now in a recession.
11:30 – Clients questioning what they’re paying for from firms and how firms will adapt?
15:56 – How is this affecting people’s decision to go in-house?
21:00 – Law firms integrating into clients and self-disciplining on fees and work scopes.
24:20 – How are in-house counsel expanding their roles within companies?
32:35 – Are in-house lawyers making themselves obsolete by automating process and increasing efficiencies?
40:50 – How people and cultural skills are more important than ever for lawyers especially in-house.
45:20 – How in-house lawyers can drive the decision-making process in a big company.
51:42 – A call to making change in your legal department and its role in the company.