Mark A. Cohen, CEO of Legal Mosaic, explained it well in Forbes when he said that “GCs are collaborators, integrators, and business advocates; they are not just lawyers anymore”.
Being a strategist is now a key competency for those wanting to lead an in-house legal team. The legal function is expected to advise on the general business strategy of a company.
General Counsel are no longer just the senior authorities on legal issues, only roped in to deal with tricky issues of risk. That’s still a key part of the job, but they are now increasingly expected to deliver innovation and actual economic value for their business.