Samuel Eberts IIIChief Legal Officer, Corporate Secretary & SVP-Corporate Affairs
Laboratory Corporation of America
Sam has more than twenty five years of legal experience in private practice and as an international corporate legal executive and serves as the Chief Legal Officer, Corporate Secretary and Senior Vice President of Corporate Affairs for Laboratory Corporation of America® Holdings (NYSE: LH), the world’s leading healthcare diagnostics company. Sam leads the company’s Legal, Compliance, Risk Management, Community Affairs, Privacy, Public Policy, Government Relations, Corporate Communications and Global Security Departments.
Sam is a member of the Board and Investment Committee for Medcap Growth Equity Funds and is a principal with Daerter Group, a venture capital firm. He serves on the board of Alpha Marketing, a premier advertising and channel marketing firm based in North Carolina. Sam serves on the Wilson Council for the Woodrow Wilson Center for International Scholars in Washington, D.C., a non-partisan global policy institute and was appointed to the Advisory Board for the World Policy Institute in New York, a non-partisan think tank for global policy analysis. Sam serves on the Council for Entrepreneurial Development, a private, non-profit organization supporting the entrepreneurial community in the Research Triangle Park, and is mentor with the Council’s Venture Mentoring Service, working with entrepreneurs to provide practical, day-to-day professional advice and coaching. He is Chairman of Easter Seals/UCP of North Carolina and Virginia, one of the largest non-profit service organizations in the country.
Sam is a frequent speaker on healthcare, leadership and the legal profession and has served as a guest lecturer at the Kennedy School of Government, Duke University School of Law and the Baylor School of Medicine. He has also served as an Adjunct Associate Professor at the University of Texas School of Public Health, Division of Management, Policy and Community Health.
14:40 Scaling the Legal Department for Global Regulatory Demands without Breaking the Bank: Are Maturity Models Even the Model?
According to the narrow model GC’s have budget pressures to manage risk, improve compliance, save time, increase efficiencies and achieve the best legal outcomes. Typical pathways are increased through the use of data and technology to improve processes, increase productivity and deliver budgeted results.
Benchmarking against Maturity Models and consistently optimizing the operations are necessary processes to function in a data-driven world and the function has to have the dedicated talent to drive all of that forward all of the time; it can’t be a secondary or tertiary duty for someone who has the time once or twice a year as it will never happen. But given the backdrop of seemingly out of control company cultures, like e.g., Walmart’s expansion in Mexico, BP in the Gulf of Mexico, and most recently VW’s emissions manipulations, perhaps it’s time to invert the circumstances and make the legal function a for-profit subsidiary tasked with generating revenue and allowed to keep whatever returns it can generate on its budget.
How the C-Suite can continue to demand budget cuts and treat the legal function as a loss center while simultaneously engaging in multibillion dollar fraud and corruption on the other hand demands some introspection on the part of GC’s:
- How well is your legal department benchmarking against maturity models?
- Do you have dedicated talent for this ongoing process?
- What is the company culture regarding fraud and corruption?
- Is the legal function compromised, or subject to ‘business capture’ in the sense of regulatory capture, meaning subservient to business outcomes regardless of the risk to individuals and the enterprise?
- How can/will you manage the conflict between narrow maturity models and business capture of the function and impact on your budgets?