Chief of Staff's Guide to Navigating the Corporate Legal Labyrinth: Lessons from J&J's Texas Two-Step
Lessons from J&J's Texas Two-Step Hey there, fellow Chiefs of Staff! If you're like me, you've probably found that your inbox is a never-ending stream of emails with subjects like "Urgent: Legal Strategy Meeting" or "FYI: Litigation Update." Today, I want to take you on a journey through one of the most intriguing corporate legal maneuvers I've come across: Johnson & Johnson's (J&J) "Texas Two-Step" with its talc litigation. Buckle up; this is going to be both a masterclass and a cautionary tale for anyone in our shoes. Key Takeaways: Strategic Legal Maneuvers: The "Texas Two-Step" is a reminder of how companies can use legal structures to manage liabilities, but it requires careful planning and ethical consideration. Risk vs. Reputation: Legal strategies might mitigate financial risks but can pose significant reputational risks if not handled with transparency and responsibility. Resource Management: Chiefs of S...