The L Suite (TechGC)

Legal strategy is becoming business strategy. That's the central theme of The L Suite's 2024 Growth Summit, where an exceptional group of legal leaders will explore how GCs are shaping the future of high-growth companies. Join us November 13-14 in New York City for The L Suite (TechGC)'s 2024 Growth Summit: Building Resilience: Aligning Legal Strategy & Business Agility. This two-day summit brings together an extraordinary lineup of speakers, including: • Aaron Singer, Chief Strategy Officer & CLO at Essor • Alison Fraser, CLO at Confluence • David Dempsey, President & COO at Heartbeat Health • Pam Swidler, CLO, CCO & Corporate Secretary at WeWork • Scott Bulua, GC at Ramp Under the leadership of co-chairs Erin Abrams (CLO, Via) and Mario Springer (SVP & GC, Justworks), participants will dive into how modern legal departments can drive growth while navigating risk in uncertain times. From expanding into broader executive roles to maintaining fundraising readiness, our mainstage discussions tackle the evolving demands on legal leaders. Designed specifically for growth, late-stage private, public company, and fund GCs/CLOs. How are you preparing your legal team for your company's next phase of growth? Register Now!

There are no headlines about lawsuits that never happened or regulatory issues avoided. Yet, behind the scenes, the best GCs operate like chess grandmasters, constantly thinking several moves ahead. This forward-thinking approach, while often unnoticed, can significantly impact a company's success over time. Here's how top-tier GCs stay ahead of the game: 1. Future-Proofing: Effective GCs actively prepare for potential regulatory shifts before they become law. They stay ahead of industry changes, allowing their companies to adapt quickly. 2. Strategic Alignment: They serve as key strategic partners in the business. They participate in major decision-making processes, offering insights that encompass both legal and business perspectives. 3. Smart Risk Management: They know when to advise their company to take smart risks for long-term gains. They find the balance between legal caution and business opportunity. 4. Pattern Recognition: They use their experience to identify potential issues early. They recognize patterns from past situations and address them proactively. 5. Vision: They consistently consider the company's big-picture objectives. They ensure their legal strategies support the organization's long-term vision, not just immediate legal concerns. It's important to note that no strategy is perfect, and no GC can prevent every legal issue. However, by thinking ahead and positioning ourselves strategically, we can greatly improve our companies' chances of success. How do you approach your role as a GC? Are you playing chess, or are you primarily reacting to each challenge as it arises?

General Counsels get paid 10-35% less than other C-Suite members. Here’s how to fix that: I recently teamed up with the The L Suite (TechGC) team to dive into how GCs can negotiate for equal pay with other execs. Jan Kang, GC at 3Degrees Group, Inc. shared a story from early in her career. A recruiter once told her she should expect only 20% of the stock options granted to a CFO. Back then, employers didn’t see GCs as essential to the company’s success. While things have improved, there’s still a significant pay gap. Many GCs I’ve spoken with estimate they’re paid 10-35% less than their peers in the C-Suite. If that’s you, here’s how to negotiate better compensation: 𝟏/ 𝐏𝐫𝐨𝐯𝐞 𝐘𝐨𝐮𝐫 𝐖𝐨𝐫𝐭𝐡 Your pay is tied to your value. Klinton Miyao, GC and Chief People Officer at Human Interest says, “The key to higher pay as a GC is aligning your department’s quantifiable value with the CEO’s view of business growth.” Avoiding lawsuits and regulatory risk is undeniably important. But your value must resonate with the company’s core goals. 𝟐/ 𝐒𝐡𝐨𝐰 𝐏𝐫𝐨𝐨𝐟 Your impact should be backed by results. “For instance, by implementing efficient payment terms and invoice practices, a GC can expedite the revenue recognition process, shorten sales cycles, and enhance cash flow", said Jennee DeVore, General Counsel at Simple HealthKit. 𝟑/ 𝐔𝐬𝐞 𝐁𝐞𝐧𝐜𝐡𝐦𝐚𝐫𝐤𝐢𝐧𝐠 𝐃𝐚𝐭𝐚 Use benchmarking data to show how your pay stacks up against industry standards—but do it tactfully. Miyao advises, “You’ll want to ensure the data aligns with your company’s compensation philosophy and the market definition your CEO respects”. Whether they rely on traditional data sources or emerging platforms, make sure you’re speaking their language. 𝐖𝐡𝐚𝐭 𝐢𝐟 𝐭𝐡𝐞𝐲 𝐜𝐚𝐧'𝐭 𝐠𝐢𝐯𝐞 𝐲𝐨𝐮 𝐚 𝐫𝐚𝐢𝐬𝐞? If there’s no room for a pay increase, don’t give up. You still can ask for: 👩🏽💻Flexible work arrangements 🏢 Department budget and hiring guarantees 📄 Contract terms like extended severance 💰 Stock options, bonuses, or 401(k) matching 🎯 Career development (mentorship, executive coaching) 📈 The GC role is critical to a company’s success Make sure you’re getting compensated fairly. “Attaining equitable compensation as a GC is possible when leadership views legal as a value driver, key business partner, and core to the organization,” said Nabilah Irshad, former Chief Legal Officer. Read the full article in the comments 👇🏼 — Want more resources and support to maximize your value as a GC? Check out Lawtrades.

The 2024 IPO Conference brought over 200 legal leaders to the Palace Hotel in San Francisco last week, where the real value emerged between formal sessions. Small groups of GCs and CLOs gathered to tackle pressing challenges. Legal leaders who had completed multiple IPOs exchanged practical insights with those preparing for their first public filing. These focused discussions went beyond conference topics - addressing pre-IPO legal team structures, regulatory compliance during rapid growth, and strategies for being an effective sole legal voice in a high-growth environment. This is The L Suite (TechGC) difference. While the conference delivered exceptional IPO expertise on stage, the peer connections made between sessions turned that knowledge into actionable strategy. For GCs navigating the complex path to public markets, having a network of peers who understand the specific challenges is invaluable.

Is poor contract management draining your legal team's resources? Join us, The L Suite (TechGC), for a virtual event on October 31st: "Maximizing ROI: Strategies for Successful CLM Implementation." Our expert panel will share hard-won insights on: • Avoiding common pitfalls that derail CLM projects • Securing buy-in across departments  • Measuring and showcasing the true value of your CLM investment Featured speakers: • Gabriel Saunders, Legal Operations Manager @ Exos • Mariya Pivtoraiko, Chief Legal Officer & Chief of Staff @ Stealth Startup • Akshay Verma, COO @ SpotDraft 🗓️ Thursday, October 31, 2024 | 12-2 PM ET 🎟️ Open to all in-house legal team members - L Suite membership not required! 🔒 Chatham House Rule applies Sign up below.

Research shows a persistent compensation gap between General Counsels and other C-Suite executives. GCs often earn 10-35% less than their peers, with equity compensation differences as high as 45-75% compared to CFOs. But it doesn't have to be this way. Here's how GCs can advocate for equitable pay: 1. Show Your Value Across the Company Your impact extends far beyond legal matters. By actively contributing to various departments' success, you demonstrate that legal is woven into the fabric of the organization, not just a support function. 2. Put Numbers to Your Work Quantifiable achievements speak louder than qualitative descriptions. Tying your work to revenue growth, cost savings, or business expansion clearly shows your bottom-line impact. 3. Look at the Whole Package Compensation isn't just about salary. Consider negotiating for elements like equity, professional development, or flexible work arrangements that can significantly enhance your overall package. 4. Use Pay Data Wisely Industry benchmarks are powerful, but context is key. Align your compensation argument with your company's philosophy and market perspective to make a more persuasive case. The L Suite (TechGC) publishes comprehensive salary reports every year, including compensation package details that tech GCs and CLOs at private companies, public companies, and funds use to filter and cut by industry, geographic market, company stage, number of employees, funding levels, market cap, AUM and more, to benchmark their unique situation Want to learn more? → Read our latest blog post, “GCs Shouldn’t Settle for Less—How to Negotiate for Equal Pay with Other Executives” (link in comments). → Join our online discussion "Understanding L Suite Pay Insights" (members only) on October 23rd for tips on pay negotiations from expert GCs, sponsored by Lawtrades. Request to join below.

Let's face it: being a great GC isn't just about knowing the law anymore. You've got the legal expertise. That's a given. But are you truly driving business success? We've seen firsthand what separates exceptional GCs from the rest. It's not just their legal knowledge - it's also their business acumen. Here are five strategies that can transform you into a superstar GC: ↓ ✓ Speak the language of business: Learn to translate legal concepts into business outcomes. Your CEO doesn't want to hear about regulatory nuances; they want to know how it affects the bottom line. ✓ Be a problem solver, not a problem spotter: Don't just identify risks - propose solutions. Come to the table with options, not obstacles. ✓ Get embedded in the business: Attend product meetings. Join sales calls. Understand the day-to-day operations. The more you know, the more valuable your advice becomes. ✓ Embrace data and metrics: Track and report on how your legal team impacts business goals. Are you speeding up deal closure? Reducing litigation costs? Quantify your value. ✓ Foster a culture of legal enablement: Train other departments on key legal issues. Your goal is to empower them to spot potential issues early, not to make them afraid to act. Remember, as a GC, you're not just a legal advisor. You're a business leader with legal expertise. Embrace it. — 📸 Beth Stevens (Sword Health) discusses “The CEO x GC Relationship” with Andrew Low Ah Kee (Fanatics) at the 9th Annual L Suite Fullstack GC Conference

🚀 Excited to be part of an upcoming panel discussion with Jennee DeVore, Megan Niedermeyer, and Katelyn Canning on Leveraging LSuite Comp Insights! As startup and private company GCs and CLOs, compensation discussions are a critical part of our roles. We’ll dive into the results of The L Suite (TechGC)'s latest compensation survey and explore practical ways to leverage this data. It’s a great opportunity for fellow The L Suite (TechGC) members to exchange ideas and gain actionable insights that can make an impact. Looking forward to sharing the stage with some amazing leaders in our community and discussing how we can better navigate comp conversations in this evolving market! #CompensationStrategy #LegalLeadership #LSuite #TechGC #GeneralCounsel #PrivateCompanies #Startups

As a GC, you’re not just a generalist, you’re a super generalist. At a law firm, you were the go-to lawyer for clients on a range of issues. You'd bring in specialists when needed, but you steered the ship on big transactions. Then you became a GC, and everything changed. Suddenly, "generalist" took on a whole new meaning. You weren't just the corporate point person anymore - you became the legal advisor for every aspect of the business. The buck stopped with you. No more passing things off to specialists. You had to understand it all, own it all. Did this mean becoming an expert in everything? Not quite. Your knowledge got wider, but shallower. You learned to identify risks and when to call in the big guns. The key? Knowing you don't need all the answers - you just need to know where to find them. As a GC, there's no "not my area" excuse. You dive in, learn fast, and get creative. That's what makes you a super-generalist. — 📸 Tony West (Uber) in a candid conversation about turning challenges, expectations, and obstacles into powerful opportunities for extraordinary leadership at the 9th Annual L Suite Fullstack GC Conference