Legal counsel faces several challenges, including:
- Keeping Up with Changes: Laws and regulations are constantly evolving, and legal counsel must stay updated on the latest changes. - Balancing Risks: Striking the right balance between risk management and enabling business opportunities can be challenging. - Resource Constraints: In-house counsel may have limited resources compared to large law firms, which can impact their ability to handle complex legal issues. - Maintaining Independence: Ensuring that their advice remains objective and unbiased, even if it conflicts with the company's immediate interests.