A Primer on Legal and Business Affairs
Whatever the nature of your company (be it a developer, a publisher, or something else), whatever its size, unless you’re actually working on a game (or game project), there’s a good chance that at any one time you’ll find yourself spending a good twenty minutes or so trying to work out exactly what it is that both "Legal" and "Business Affairs" do for you.
While naturally this depends on the size of the company, you can generally think of the Legal and Business Affairs teams as dealing with all of the boring-but-necessary matters that help the business run smoothly . The Legal side of things involves a great deal of contract negotiation, review and drafting, while Business Affairs takes on the following: From a Corporate Law perspective, depending on the size of the company, Legal will also be involved in a great deal of Corporate Maintenance; filing Annual Returns, minutes of AGMs, Shareholder changes etc.
Above all, the Legal and Business Affairs teams are your friends. They’re there to support you by helping to ensure that Companies House doesn’t shut you down, that you’re complying with license agreement terms and licensor requirements, and that infringements are dealt with quickly and efficiently.
Essential Duties in Legal and Business Affairs
The job description for entry level entertainment legal and business affairs positions is that it is a combination of the duties of a paralegal and a business executive. In fact, many large entertainment clients hire new graduates right out of law school knowing it will take two years for the new graduate to get up to speed to do more advanced work.
For an entry level associate, this may mean orientation and training in the nuts and bolts of corporate practice and being the aide or assistant to a senior attorney. You might be asked to research the law. You might be asked to look over new contracts to make sure all the information is filled out. You might be asked to draft contracts or agreements under very close supervision. Because these contracts typically are form agreements, it requires research not so much on the law, but on the industry standards and practices that have become codified into industry contracts.
However, as you work and learn, you will find yourself doing more and more sophisticated work. In House counsel also play the role of general counsel, advising the executives of the company, and serving as trial counsel or primary legal advisor for contested matters.
Over time, you will find yourself negotiating contracts and preparing the internal paperwork to finalize the deal.
As you continue to develop your skills you will find yourself more involved with the line executives. The best entertainment lawyers are the general counsel who go out to lunch with the executives and have the most influence with management. It is unusual, for example, for a talent agent not to have a close relationship with the studio’s general counsel. Likewise, the studio general counsel will personally know the agent’s office – all the other agents – as well as their staff. It is through these relationships that the business gets done.
The general counsel has to step outside his or her legal role from time to time to become comfortable with dealing with business dynamics and politics. At the end of the day, the company’s interests are paramount. Some lawyers are very uncomfortable when company politics requires them to put on their business hat and act more like a business executive than a lawyer. All lawyers want to win arguments in court. Corporate lawyers just have to learn to win arguments in the boardroom and at the bargaining table.
Prerequisites and Competencies Required
Most companies require a bachelor’s degree to get a career in legal and business affairs, in particular law, business, marketing, or communications. Territory clearance is highly sought after as well. It is common for employers to require clearance prior to employment. Clearance essentially means the individual has installed security clearances and been approved by the Department of Defense. Obtaining territory clearance is a lengthy process and can take one to three months. Respondents have noted that it is helpful to get a head start by applying for the necessary security clearance as soon as possible following receipt of an offer of employment. It is also important to get your fingerprints taken in a timely manner. Also, if someone had been in trouble with the law at some point, it does make a difference in obtaining territory clearance. Being well-connected within the industry, developing strong communication, assisting and negotiating skills, and getting legal knowledge are also desirable qualifications for a career in legal and business affairs. Prior experience and familiarity with pre-acquisition, acquisition, and development as well as production business or legal concepts is preferred. Another requirement includes extensive contact with business and legal counterparts.
Career Advancement and Possibilities
Careers in legal and business affairs encompass a broad range of professional opportunities across the media and entertainment industry. Some of the more typical roles include:
Legal Advisor. The legal advisor’s role is a specialist’s role that has become increasingly important in recent years. Legal advisors can be found working in-house with broadcast networks, cable channels and OTT platforms, as well as within studios, record labels, literary agencies, publishing houses, video game companies, and digital media companies. These professionals are responsible for providing legal opinions and advice to other executives in their companies, including their superiors above them in the corporate hierarchy.
Compliance Officer . Compliance officers are responsible for keeping companies within the bounds of their obligations under applicable laws, regulations, standards and policies. In the media and entertainment industry, compliance issues may include copyright and trademark rights, privacy rights, advertising and marketing standards, licensing obligations and export/import restrictions. For content that is created to be distributed and exhibited on a worldwide basis, compliance issues with foreign companies and distributors also may arise.
Business Affairs Manager. Business affairs managers represent and negotiate on behalf of companies with their outside counsel with respect to certain types of legal matters (litigation and regulatory matters, for example) and typically oversee contractual matters with third parties and other non-legal business matters under the executive vice president’s purview.
Market Demand and Employment Projections
As the global economy continues to expand, the demand for legal and business affairs professionals shows no sign of waning. Lawyers with specialized knowledge in intellectual property, privacy, data security/cybersecurity, antitrust, and other business law is expected to see increased demand. In-house attorneys and business affairs executives who understand the business and legal principles governing international business transactions will be particularly in demand. Lawyers with the experience and skills to manage the myriad of risks, disputes and costs associated with commercial, corporate and business transactions will be needed in all industries. As companies expand and seek to reduce overhead, the importance of legal professionals with multiple skills who can assume a variety of responsibilities will be in demand. Legal and business affairs professionals with experience that extends beyond the law, such as sales, management, project management, or finance will be in demand.
Strategies to Enter the Industry
From our discussions with current professionals in the field, it appears that one of the best ways to consider entry into a career in legal and business affairs is through an internship while in school. Internships can provide students with first hand experience working in the field and networking opportunities that can be beneficial when looking for a full time position. Internships often provide students with experience reviewing, drafting and negotiating contracts in the entertainment industry as well as gaining the insight and experience of working closely with an entertainment attorney or business professional. Additionally , there are often opportunities for school specific work-study programs through an employer that provides financial aid in exchange for work experience while attending school. One recent example of a work-study program in the industry was through a Connecticut-based talent agency that has offered participation in a work-study program to students at Columbia University School of Law for the past several years. This program provided participating students with the opportunity to participate in a school authorized work-study program for financial aid in which they would earn $40 an hour, with weekly work hour requirements, working at the company. While a full time position working in-house at a studio, network or media company may be a career goal for many, the competition is fierce. As such, in order to gain relevant and marketable experience, obtaining a position (either as an employee or intern) at agencies or law firms that handle, review, negotiate and, in some instances, re-negotiate business agreements on behalf of clients can be a way to first learn the ropes of the industry before pursuing a full time in-house position.