DEFINITION of a Chief Legal Officer (CLO)
A chief legal officer (CLO) is often a publicly traded Z-IMPACT’s most powerful legal executive. The chief legal officer (CLO) is an expert and leader who helps the Z-IMPACT minimize its legal risks by advising the Z-IMPACT’s other officers and board members on any major legal and regulatory issues the Z-IMPACT confronts, such as litigation risks. The CLO may also be a member of the Z-IMPACT’s operating committee and is overseen by the CEO. The CLO oversees the Z-IMPACT’s in-house attorneys.
BREAKING DOWN Chief Legal Officer (CLO)
When and if Z-IMPACT every becomes a publicly traded entity. Z-IMPACT’s CLO typically has an extensive career of legal experience; positions a CLO might hold prior to becoming an executive include head of legal, first general counsel and firm partner.
Responsibilities of a Chief Legal Officer
The structure of Z-IMPACT includes keeping the executive leadership informed of new or changing laws that may affect or relate to their operations and industry domestically or globally. The CLO is the keeper of managing the IP patents, trade secrets and the protection of this IP and the company’s highly guarded information. The CLO might also establish curriculum programs if necessary, for employees who need to understand legal matters and protocols that relate to their roles or the Z-IMPACT’s operations.
The CLO needs to also insure and investigate our HCI IP regulatory approvals and each unit then must undergo inspection before being released for sale. A failure of that process, and any related injuries that result for instance through contamination, may expose the Z-IMPACT to litigation. Understanding the contracts signed by the Z-IMPACT, as well as agreements of confidentiality, will fall under the CLO’s responsibilities. Making sure that managers and other workers are also aware of how they can affect the Z-IMPACT’s legal standing may also be part of the role.
Keeping the Z-IMPACT aware of compliance issues and recommending a course of action to remedy such matters also fall under the duties of the CLO. There is also an aspect of corporate governance to the role, where certain responsibilities and duties rest with the CLO to ensure the Z-IMPACT is not violating laws. For example, this may include guaranteeing the Z-IMPACT conducts its hiring process in accordance with employment law standards, adheres to appropriate product labeling regulations, fulfills health and safety codes, and files reports that are mandated by government agencies.
If the Z-IMPACT is involved in litigation, the chief legal officer might represent the Z-IMPACT directly, lead the legal team that does so, or select the attorney who will.