Counsel in the Boardroom and Lawyers Serving on Boards, Including Ethical Considerations (2024 Edition)

Serving on boards of directors can be a valuable adjunct to one’s legal career, as well as help prepare one for increased board activities after retirement from legal practice. Law firms are increasingly permitting their members to serve on board, since to not do so may put a law firm at a competitive disadvantage regarding recruitment and retention. There are of course important ethical issues to navigate, but these are not difficult to manage. Also, both inside and outside counsel are often “in the boardroom”, and can provide valuable support to boards and management, while observing important ethical principles. This…