Rely on the most comprehensive, up-to-date legal content designed and curated by lawyers for lawyers
Work faster and smarter to improve your drafting productivity without increasing risk
Accelerate the creation and use of high quality and trusted legal documents and forms
Streamline how you manage your legal business with proven tools and processes
Manage risk and compliance in your organisation to reduce your risk profile
Stay up to date and informed with insights from our trusted experts, news and information sources
Access the best content in the industry, effortlessly — confident that your news is trustworthy and up to date.
Find up-to-date guidance on points of law and then easily pull up sources to support your advice with Lexis PSL
Check out our straightforward definitions of common legal terms.
Our trusted tax intelligence solutions, highly-regarded exam training and education materials help guide and tutor Tax professionals
Access our unrivalled global news content, business information and analytics solutions
Insurance, risk and compliance intelligence using big data, proprietary linking and advanced analytics.
A leading provider of software platforms for professional services firms
In-depth analysis, commentary and practical information to help you protect your business
LexisNexis Blogs shed light on topics affecting the legal profession and the issues you're facing
Legal professionals trust us to help navigate change. Find out how we help ensure they exceed expectations
Lex Chat is a LexisNexis current affairs podcast sharing insights on topics for the legal profession
Discuss the latest legal developments, ask questions, and share best practice with other LexisPSL subscribers
The LexisNexis Aspire networking and professional forum met on Thursday 7th June 2018. Hosted by Sophie Gould, Head of In-house, LexisNexis, this session looked at building your personal brand, in-house counsel’s role in navigating a successful Brexit for your business and included an interactive 'in conversation with' senior counsel who shared thoughts on how best junior in-house lawyers can succeed.
Aspire meets 4 times a year and provides a free networking service which is a key life line to many starting out in their in-house legal career.
This is the second in our series of three posts sharing insights and learnings from the forum. In this post Guy Lougher, Partner and Head of Brexit Advisory Unit, Pinsent Masons shares the findings from a recent survey - Brexit Report: Into the breach - conducted by Pinsent Masons which explored how in-house counsel can navigate a successful Brexit.
A clear disconnect
The survey, conducted in association with YouGov and The Lawyer demonstrated a clear contrast between company Boards and GCs when it comes to Brexit.
When asked how well their organisation was prepared for Brexit, 58% of Board members thought their organisation was well prepared, but only 6% of GCs thought the same. Interestingly, 51% of organisations have already triggered their Brexit no-deal contingency plans, indicating that businesses cannot wait for clarity from the government.
You might imagine that organisations are holding cross-disciplinary discussions, including all those individuals best placed to see the risks and opportunities presented by Brexit. 71% of Boards suggested these had taken place in their organisation, but only 50% of GCs agreed that a full risk-assessment had taken place.
What's top of the agenda when it comes to the risks faced?
When asked about the key Brexit risks to their organisation, customs duties and tariffs came up top for Board members. This could be because this is a prominent issue in the media, or because Boards are afraid they’ll be unable won’t be able to pass these additional costs on to the consumer.
Other hot topics were supply chain disruption, the ability to attract and retain both high and low skilled workers (depending on the industry) and data protection.
On the reporting of Brexit risks, there was general agreement that any possible risks should be reported to the Board. What goes into annual reports and accounts is a more challenging question. Companies are obliged to disclose any material risks to their shareholders. The FRC had indicated that the general uncertainty surrounding Brexit was sufficient, but expects the analysis to be more granular going forward. This is challenging for organisations to achieve in practice, as there are still so many unanswered questions.
Three immediate actions to take
In light of all the uncertainty, Guy suggested there are a number of things businesses should be doing now:
The most common question posed on Brexit?
Guy also answered some questions about Brexit:
Q: Why are businesses concerned about GDPR when DPA 2018 is already in place?
A: This is partly because there are concerns with how the UK government uses data in relation to national security, and partly because the GDPR permits for national derogations in some areas – which could leave the UK exposed if the DPA 2018 doesn’t adequately meet EU standards in those areas.
Q: What sort of Brexit would be best for lawyers:
A: The less certainty and continuity, the more work there will be for lawyers – particularly litigators. This means that an EEA Brexit (where the UK remains part of the EEA), whilst ensuring the most certainty for business, is likely to produce the least work for lawyers.
Q: What’s the most common Brexit question your clients are asking?
A: ‘Can we have your Brexit clause?’ – unfortunately there’s no one size fits all clause here, so the answer is a bit more complicated!
Join Aspire today
Aspire is free to join and open to all in-house lawyers in the early stages of their legal career. If you wish to be informed about future Aspire events please register your interest here.
Free trials are only available to individuals based in the UK
* denotes a required field
Lauren Fairservice is a paralegal in the LexisPSL In-house, Compliance and Practice Management Group.
Prior to joining LexisNexis in May 2016, Lauren spent a year in-house at ClientEarth, helping to coordinate their climate litigation work and two years in the IP Litigation team at Bristows LLP. She holds the GDL and LPC, as well as an MSc in Environment & Development and a degree in Geography.
0330 161 1234