Key Terms
The language of
legal leadership.
General Counsel (GC)
The most senior lawyer within an organisation, responsible for overseeing all of its legal affairs and advising its leadership on legal risk.
Fractional General Counsel
An experienced lawyer who provides general counsel services on a part-time or retained basis, rather than as a full-time employee.
In-House Counsel
A lawyer employed directly by a business to handle its legal matters, rather than working for an external law firm.
Retained Counsel
Legal support provided under an ongoing agreement for a fixed fee, as opposed to being instructed matter by matter.
Scalability
The ability to increase or decrease the level of legal support to match the changing needs of the business.
Commercial Contracts
The agreements that govern a business's trading relationships — customer, supplier, distribution and partnership terms.
Due Diligence
The investigative process carried out before a transaction to identify risks, liabilities and obligations in a business.
Compliance
The process of ensuring a business meets its legal and regulatory obligations, including data protection and sector-specific rules.
GDPR
The UK and EU General Data Protection Regulation, governing how businesses collect, store and use personal data.
TUPE
The Transfer of Undertakings (Protection of Employment) Regulations, which protect employees when a business or service transfers.
Governance
The framework of rules and practices by which a business is directed and controlled, including the duties of its board.
Legal Risk
The risk of financial or reputational loss arising from legal obligations, disputes, contracts or non-compliance.
Dispute Resolution
The process of resolving legal disagreements — through negotiation, mediation, arbitration or litigation.
Interim Counsel
Senior legal support provided for a defined period, often to cover a departure, transition or a specific project.
Master Service Agreement (MSA)
A contract that sets out the core terms governing an ongoing relationship between a business and a supplier or customer.
Non-Disclosure Agreement (NDA)
A contract that protects confidential information shared between parties, often used before commercial discussions.
Portfolio Company
A business owned or backed by an investment firm, such as a private equity fund, as part of its portfolio of holdings.
Regulatory Risk
The risk of loss or sanction arising from a failure to comply with the regulations that govern a business's sector.
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