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Increasingly for in-house counsel, the intelligent appointment of an external panel of select legal advisers can significantly reduce the time and money spent on effectively managing risk. It follows then that developing close working relationships with external counsel can go a long way towards explaining value and justifying costs to senior management. External lawyers assist by providing a full suite of legal services, commercially savvy advice and specialist support and know-how. Evangelos Apostolou, Deputy General Counsel of Asia Pacific, Ernst & Young highlights the benefits of establishing an external counsel panel in an age where the role of in-house lawyers is continually evolving.

China is encouraging foreign investment into the pharmaceutical distribution industry by lifting previously entrenched barriers in ‘restricted’ categories in the field. Given that the government is additionally taking steps to reduce drug prices down the distribution chain, foreign manufacturers are electing to cut out the middleman and establish their own distribution business with a view to maxing out on profits. Jack Wang and Ma Ya of Freshfields Bruckhaus Deringer take us through the government’s efforts to boost foreign investment and consolidate the drug distribution industry in the PRC.

Bringing China’s arbitration rules up to date and in line with international standards has far-reaching advantages, including greater transparency and more scope for choice from the parties’ point of view. Stuart Dutson and Yang Zhao of Eversheds provide an overview of the key changes to the CIETAC Rules (2012) and outline the impact these amendments will have on arbitral proceedings in China.

Doing it right – reviewing your risk management processes

For a country firmly entrenched in tradition, embracing the twin hallmarks of development -capitalism and liberalism – have not been easy loads to bear for India’s economy. Given that its infrastructure cannot match its growth and its government is resistant to change, India’s economy is struggling with paradoxes that can’t be easily squared away. Still, it is now the second fastest growing industry in the world and it is taking steps to increasingly open up its market, in terms of FDI, the legal industry and its burgeoning retail sector. Our cover story explores the latest issues and trends affecting the economy and lawyers from Majmudar & Partners share their insights on the nuances affecting the stock broking business in India.

Defying the GFC and strategically driving growth in virtually every sector, the world’s gaze remains fixed on China to continue its upwards trajectory. Frances Woo and Tiffany Chan of Appleby chart investment trends into Africa as well as the mushrooming consumer industry in the PRC.

When employers in Japan find themselves in a dispute, in need of vital information, it may be that their former employees hold the key to securing a resolution. A voluntary agreement containing an Assistance in Dispute provision could be helpful in this case. Sayaka Ohashi, Toshishige Fujiwara and Peter Sise of Anderson Mori & Tomotsune take us through the benefits and pitfalls of such a provision.

The value of ‘intelligence’ when investigating corruption & bribery in India

Pitted against a backdrop of financial as well as natural disasters in 2011, in-house and external counsel had to fight clock, calendar and boundary to get their clients’ deals across the finish line. Notably, countries in the Asian and MENA regions, drivers of the engines of growth since the GFC and the Euro-crisis, have delivered a high level of torque. ASIAN-MENA COUNSEL celebrates an array of stellar deals in this issue that made the short-list for their size, innovation, complexity and uniqueness. From towering IPO’s to huge eco-friendly structures, our winning deals as well as our honourable mentions, span an impressive gamut.

How do in-house teams claim legal privilege and establish their independence? According to Sascha Hindmarch, General Counsel, University of South Australia and Martin Meredith, barrister at Commercial Chambers, an in-house legal team acts for the business but is not a function of it. They highlight the key features of the nature of privilege and effective ways to adduce evidence of independence.

As many firms increasingly come under fire for their charge-out methods, Stephen Hopkins, International Head of Eversheds elucidates us with a checklist which sets out ways in which in-house counsel and their external teams can add value and achieve their client’s objectives while attempting to stay within budget. Timely co-ordination and communication between the two teams and the client are critical, he states.