Foresight

By

August-September 2021 Edition

Your bi-monthly snapshot

Counselect is India’s first dedicated legal secondment and flexi-work venture.

Stance

The lack of consistency and standards in drafting contracts has been a roadblock to contract automation and management in the legal industry. Template contracts, mostly in telecom and manufacturing, are now lending themselves to automation with tools like Natural Language Processing.

 

- The Agamiscape 2020 Report

Future-first snippets

Corporate Legal Departments across sectors have maintained a healthy diversity quotient. In FY 2020-21, 46% of professionals assigned for mid-senior roles were women. More than 50% of women lawyers were in Media & Entertainment, IT/ITES, Power & Energy, and Pharma.

To know more about these insights (ref pg. 21), click here.

Fintech, followed by E-commerce, Ed-tech, Media-tech, and Gaming, was the top segment in the Internet Sector that hired the most legal professionals in FY 2020-21. Over 72% of lawyers hired in Internet companies were from diverse professional backgrounds. It shows the dynamic nature of issues to be dealt with and the breadth of capability in-house legal departments have to possess.

To know more about legal departments in the internet sector,click here.

Legal professionals are increasingly moving from law firms to in-house roles. In FY 2020-21, 17% of the professionals absorbed by the in-house teams were law firm professionals, of which 50% of these professionals were at the Senior-Associate level (4-6 years PQE).

To know more insights (ref pg 23), click here

Business impact

Our client, a global multi-media network organization, needed a legal professional to cover for the absence of their India-office-based senior team member going on maternity leave. The role was location-agnostic. It required expertise in litigation management, general corporate advisory, and commercial contract drafting.

 

A Counselect secondee with 4-6 years of relevant contractual experience, honed at Tier-1 Law Firm was swiftly onboarded. She met the organization's expectations and worked from home for one year until the senior team member re-joined.

Impact: The client achieved business continuity at a testing time and successfully concluded contractual negotiations with their vendors and partners.

Showcase

LLB | 13+PQE with Tier-1, mid-tier & boutique law firms, in-house EPC & as an independent counsel | Practice areas: Infrastructure & Energy, General Corporate & Transactional Advisory, Labour & Compliance

LLB from Symbiosis Law School | 7+ PQE with Tier-1 and mid-tier law firms | Practice areas: TMT Advisory, Technology Contracts, and Data Privacy

Milestones

Counselect completed 2 years in August 2021 as a stand-alone entity. 100+ projects accomplished for clients that include Fortune 100, NIFTY 50, BSE 30 companies, marquee funds, and unicorns.

Vahura completed 10 years on 1 October 2021. | 1800+ legal, policy, tax & compliance positions closed with Corporate Houses & Law Firms | Database of 40000+ Professionals built from Legal, Policy, Tax & Compliance Domains | Over 20% of all Mid-to-Senior moves facilitated in India at Law Firms, Corporate Legal Departments, and Funds.

To watch our model in action on our website, click here.

Our Eclectic Adventures!

Team Vahura mentored and counseled IDIA Scholars ahead of interviews.

Many received job offers from renowned law firms.

 

The Grey Matter featured Vahura members on #DareAct - a series of Instagram Live Interviews with lawyers who chose unconventional paths.

#DareAct

Ritvik Lukose and Abhinav Srivastava gave a talk on the ‘Interplay of Technology & Legal Practice’ to the inaugural batch of the School of Law, National Forensic Sciences University.

 

The Economic Times, September 15, 2021, quoted Karl Fernandes in a news report on a senior lateral move and the rising importance of compliance in mitigating legal risk.

You may directly share your thoughts

and queries with our co-founder Ritvik on

ritvik@counselect.com