What is a Product Counsel?

A product counsel is a lawyer who provides legal advice to a company on issues related to the development and sale of its products. The product counsel's role can vary depending on the size of the company, industry and the nature of its products, but they generally advise on issues such as intellectual property, product liability, and compliance with regulations related to the sale and distribution of products.

Product counsel will often work with internal company stakeholders ranging from business units to engineering to ensure regulatory compliance and provide risk advice. They may also be involved in negotiations with suppliers, customers, and other stakeholders, and may work with other members of the legal team to ensure that the company's products are developed and marketed in a way that is consistent with the company's legal and business objectives.

What are the responsibilities of a Product Counsel?

• Advising on product-related legal issues, including intellectual property, data protection, consumer protection, data privacy, and other relevant laws and regulations
• Drafting and negotiating product-related contracts, such as terms of service, privacy policies, and licensing agreements
• Assessing and mitigating legal risks associated with product development and launches
• Providing guidance on product compliance and regulatory matters
• Collaborating with cross-functional teams, including engineering, design, and marketing, to ensure that products are developed and launched in a legally compliant manner
• Staying up-to-date on relevant legal developments and industry trends and advising the company on their potential impact on the product roadmap
• Managing product-related legal disputes and representing the company in legal proceedings, as needed.

What are the key challenges faced by Product Counsel?

• Keeping up with rapidly changing laws, regulations, and industry trends that may impact the company's products
• Balancing the need to mitigate legal risks with the business goals and objectives of the company
• Managing multiple competing priorities and deadlines
• Communicating complex legal concepts and risks to non-legal stakeholders in a clear and understandable way
• Building and maintaining relationships with internal clients and cross-functional teams
• Managing outside counsel and legal budgets effectively
• Staying current on developments in technology and the broader legal landscape that may impact the company's products.