This month, our KorumLegal Consultant is Indira Hann who qualified in 1992 with Allen & Overy, having graduated with a 2:1 class degree in Law from Newnham College, Cambridge University. She then spent 10 years in private practice as a commercial lawyer, mainly with Clifford Chance and also with Anderson Legal. Indira has been in-house since 2002 and has set up three legal functions from scratch. The majority of her in-house time has been in the technology sector, working for SSAS companies, a deep tech start-up and fintech companies, but she also has experience in the hospitality and fashion sectors.
1. Hi Indira! Can you tell us a little about the work you are currently doing and have been doing?
I have recently started working as a Fractional GC and have to date supported early-stage companies in very different industries, including risk and compliance tools, to the energy sector and the mental health sector. Immediately before this, I worked as an interim GC providing maternity leave cover for a fintech business in the payments field.
2. What made you take the leap into working in NewLaw for ALSP’s? And why is it a good fit for you?
I worked in an ALSP many years ago when ALSPs were in their infancy, but was headhunted twice so my experiences were relatively short-lived! This time round, I have committed to working as a Fractional GC and working with ALSPs is an integral part of this. I love working with early-stage companies – this is where I think I can add the most value – but it is clear that most of them do not have the need (or budget) for a full-time senior lawyer. By partnering with an ALSP, I’m able to offer tailored legal support to multiple clients at once, providing the flexibility and variety that helps me deliver real value to businesses without the overhead of a full-time hire.
3. What’s the most rewarding assignment you’ve ever had and why?
My most rewarding roles have been setting up legal functions from scratch and helping with the development of early-stage companies’ legal functions. I’m a big fan of the legal audit – I’m currently enabling senior management of a client to develop a clear strategy for fixing gaps in policies, procedures, and documents that are having a real impact on revenue through a legal audit.
4. As an experienced NewLaw/ ALSP consultant, where do you see NewLaw/ ALSPs fitting into the matrix of the legal sector and how have you seen it evolve?
I think the use of Fractional GCs and other legal support functions is increasingly being seen as a cost-effective and efficient use of resources. It can be tailored to the client’s requirements – as a client, you can use experienced professionals who will invest time in getting to know your business and then provide tailored advice either on a call off or retainer basis. I see ALSPs as a means of providing services either as an adjunct to support from an existing in-house legal team or to help set up the legal function for early-stage companies. They will never replace in-house teams or law firms but can efficiently plug the gaps between the two.
5. What trends do you expect to see in the legal services industry in the next 5 years?
I expect to see the use of AI increasing enormously – it’s a tremendously useful tool but needs to be used with care as its results can be unpredictable! It should increase efficiency and generate cost savings – I’m currently using it for data mining purposes, and it has been great for the first cut.
I think the use of ALSPs will also continue to grow as a cost-effective alternative to law firms and going to the expense and risk of full-time hires; it’s a great cost-effective solution for stretched early-stage companies to get the support they need.
6. Your favourite tune? And why?
Elbow – One Day Like This – uplifting, the sound of summer for me.
KorumLegal is a boutique legal consultancy committed to providing value innovation in legal service delivery. The legal services industry is continuing to change with ‘NewLaw’ – and clients are seeking more innovative and cost-effective solutions without compromise on experience and quality
