Female Torchbearers of Legal Industry

The Evolution: Over the time, Information Technology has become ubiquitous and successfully made its way into every industry, and the legal sector is no different. Through the past two decades, there was a sea change in the legal services delivery. This is possible due to the adoption of legal tech by new-age industry leaders. For instance, few years ago, creating a contract without pen and paper, running courts virtually was more than a dream. However, with the increasing adoption and use of disruptive technologies by new-age legal professionals it is crystal clear that legal tech is here to stay and rule.

Stakeholders: Previously, the major stakeholders in the legal industry include lawyers, judicial systems and law schools. However, owing to the revolution in the recent years, the industry has expanded to include alternative legal service providers (ALSPs), which provide high demand legal services that were traditionally provided by law firms. These range from small legal tech startups to some big accounting firms that offer legal managed services to their clients.

Women CLOs Spearheading the Industry: Like any other profession, Legal industry too has been dominated by men. However, women of 21st century with their consistent and steady efforts have entered into the Legal field, but also exceled in it and made their way to become Chief Legal officers or general counsel, the highest legal position of a public company. Mostly, they are mandated to minimize the legal risks around the company and imparts legal advice to board members and company officers, especially on litigation risks by taking charge of all the company's legal matters, and reports to the Chief Executive Officer. Generally speaking, CLOs with their extensive hand-on experience and strategic intellect, improves the quality, efficiency and cost-effectiveness of legal services and helps their respective firms stay afloat in the market. However, the major roles are to inform the executive team on emerging law changes. This includes both new and pre-existing laws that may affect the company's business operations.

Our endeavour at Women Entrepreneur Magazine has always been to highlight remarkable women leaders across geographies and industries. In keeping with our motto, the current issue of the Women Entrepreneur Magazine features a list of ‘Top 10 Women Chief Legal Officers - 2023'. Compiled by a panel of industry veterans, CEOs, CXOs and the Women Entrepreneur Magazine editorial team, the list features prolific women who have not only crafted illustrious and innovative businesses, but have proven their mettle as leaders across the diverse businesses playing a key role in contributing towards strengthening the workforce.