Preparing a report for the company\u2019s board of directors is one of the key tasks and responsibilities of an in-house counsel. <\/p>\n\n\n\n
How do you go about it? <\/p>\n\n\n\n
The report is typically prepared on a quarterly and annual basis, although you may maintain a weekly tracker for internal purposes. <\/p>\n\n\n\n
*The good news is that you can use AI to automate a lot of the legwork, prepare templates and a draft framework, once you know what the first principles are*. <\/p>\n\n\n\n
We created one board\u2019s report with the use of AI.
Tap on \u2018Steps\u2019 to know the steps as to how we did it and what was the output. <\/p>\n\n\n\n
There are many cutting-edge and exciting tasks performed by in-house counsels on a day-to-day basis, like creating compliance calendars, legal MISes liaising with external litigators and law firms, using legal tech software, etc.<\/p>\n\n\n\n
If you want to learn such skills and get a step-by-step roadmap to get a job as an in-house counsel, join us in the 3-day bootcamp between Feb 9 – Feb 11, 2024 from 7 pm -10 pm.<\/p>\n\n\n\n
<Steps>
Before we get to drafting the board\u2019s report, let\u2019s understand how exactly the report could be presented.
The report could be presented as a running document with a list of key highlights, with further details in an annexure.<\/p>\n\n\n\n
Here is a list of the top 10 items: <\/p>\n\n\n\n
As you see, the scope of compliance, disputes and contractual knowledge required is very vast. <\/p>\n\n\n\n
This is a high-end application of your work as an in-house counsel. <\/p>\n\n\n\n
Once you know these first principles and have the necessary information at hand, we can start creating a sample report for the board using AI in minutes. <\/p>\n\n\n\n
Always start with a summary\/key highlights. Here<\/a> are the prompts and the AI-generated output for the summary.<\/p>\n\n\n\n The next step is to attach a detailed table of all items. It could be a consolidated table or separate annexures for each category in case the list is larger (for ease of navigation). <\/p>\n\n\n\n Here<\/a> are the prompts and the AI-generated output for the table. <\/p>\n\n\n\n Here<\/a> is the consolidated output (human-edited) for the board\u2019s report (Google doc summary), with the table attached<\/a>.<\/p>\n\n\n\n Feel free to use it! <\/p>\n\n\n\n Did you like learning about this? <\/p>\n\n\n\n There are many independent lawyers who provide a \u201cfractional General Counsel\u201d or \u201cOutsourced In-house Counsel\u201d services.<\/p>\n\n\n\n You can also prepare this for your own clients who have provided retainers, especially if they have a high volume of legal work. <\/p>\n\n\n\n Very often, they may not know on their fingertips about the volume of ongoing legal work and stakes involved. <\/p>\n\n\n\n Who knows, it might just help you later in increasing the retainer! <\/p>\n\n\n\n There are many cutting-edge and exciting tasks performed by in-house counsels on a day-to-day basis, like creating compliance calendars, legal MISes liaising with external litigators and law firms, using legal tech software, etc.<\/p>\n","protected":false},"excerpt":{"rendered":" Preparing a report for the company\u2019s board of directors is one of the key tasks and responsibilities of an in-house counsel. How do you go about it? The report is…<\/p>\n","protected":false},"author":3,"featured_media":1672,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[43,38],"tags":[44,39],"class_list":["post-1805","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-artificial-intelligence","category-in-house-counsel","tag-artificial-intelligence","tag-in-house-counsel"],"_links":{"self":[{"href":"https:\/\/lawsikho-frontend-development.lawsikho.dev\/blog\/wp-json\/wp\/v2\/posts\/1805","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lawsikho-frontend-development.lawsikho.dev\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lawsikho-frontend-development.lawsikho.dev\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lawsikho-frontend-development.lawsikho.dev\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/lawsikho-frontend-development.lawsikho.dev\/blog\/wp-json\/wp\/v2\/comments?post=1805"}],"version-history":[{"count":1,"href":"https:\/\/lawsikho-frontend-development.lawsikho.dev\/blog\/wp-json\/wp\/v2\/posts\/1805\/revisions"}],"predecessor-version":[{"id":1806,"href":"https:\/\/lawsikho-frontend-development.lawsikho.dev\/blog\/wp-json\/wp\/v2\/posts\/1805\/revisions\/1806"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lawsikho-frontend-development.lawsikho.dev\/blog\/wp-json\/wp\/v2\/media\/1672"}],"wp:attachment":[{"href":"https:\/\/lawsikho-frontend-development.lawsikho.dev\/blog\/wp-json\/wp\/v2\/media?parent=1805"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lawsikho-frontend-development.lawsikho.dev\/blog\/wp-json\/wp\/v2\/categories?post=1805"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lawsikho-frontend-development.lawsikho.dev\/blog\/wp-json\/wp\/v2\/tags?post=1805"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
It is not necessary for you to be a full-time in-house counsel to utilise this report. <\/p>\n\n\n\n