Canadian Lawyer InHouse

October/November 2021

Legal news and trends for Canadian in-house counsel and c-suite executives

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Page 28 of 35 27 "We're offering very pointed, specific, punchy legal advice in microdoses, and it has been very well received by the business." benefit from external counsel expertise, Kresak says. This year, the legal team is focused on business operations and supporting a new corporate strategy for the company and the next phase of business growth. ESG is a signif- icant part of the next phase, which will take place over three years. This phase will entail a diversity and inclusion strategy across the whole organization and an emphasis on the the pandemic. This approach includes a complete recalibration of both the enterprise and project risk assessments. The legal team — which generally has six members — is very selective in using external counsel. They retain law firm partners only when their expertise and experience can create value and handle a file more quickly. For example, issues such as tax, corporate securities, or international privacy may Steven Kresak environment and climate action initiatives, such as seeking credible opportunities to monetize climate action initiatives within the company. On the governance side, the team plans to examine policies to ensure they are creating value. "We are not only thought partners and advisors, but we are really on the frontlines with our colleagues in the business lines, helping them to avoid dark, pointy corners that they might not know about from a legal perspective. It's that service orientation that's super important to us," says Kresak. AUTOMATION AND INNOVATION IBI's legal team developed and implemented innovative tools to increase efficiency: • Robotic process automation: Created a bot designed to assist IBI professionals in licensing and contracting functionalities. • Automated contract review tool: Developed an efficient means of responding to and negotiating services and non-disclosure agreements. • Legal spend management software: Integrated and leveraged AI legal management software, BrightFlag, to create efficiencies and reduce legal spend. • Cloud-based global entity management: Ensures compliance and governance in an innovative manner.

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