Premium Subscriber Q&A
In the fall 2021, six large North American energy companies— companies that vigorously compete against each other — formed a joint venture that used real-time digital technology that would help them resolve certain operational inefficiencies in natural gas post-trade processing.
When they needed a GC for their new venture, they chose Becky Gottsegen. The choice was so successful that Gottsegen is a finalist for the 2023 Houston Corporate Counsel Award for General Counsel of the Year for a Solo Legal Department.
Texas Lawbook founder Mark Curriden had the opportunity to ask Gottsegen a few questions about the unusual venture, and what she looks for when hiring outside counsel.
For Mark Curriden’s full profile of Becky Gottsegen Click Here
Texas Lawbook: What has been your best day working at Eleox?
Rebecca Gottsegen: Launching our first product, Ox Pair. It was like watching my kids take their first steps. There were some stumbles, bumps and bruises, but just as toddlers get back up and keep moving forward, we were able to tweak the product to perfection with the input of some of the largest energy trading companies in the industry. Ox Pair is a distributed ledger technology (DLT) product that allows counterparties to confirm the terms of their trades on a shared, permissioned distributed ledger. We currently continue to add features to Ox Pair and, at the same time, we are working on additional post-trade automated products. Our second product, Ox Settle, is on track for launch this summer that will allow natural gas shippers to reconcile and settle invoices with interstate pipelines using Electronic Data Interface (EDI).
Lawbook: What are the factors you consider when deciding about hiring outside counsel?
Gottsegen: My clients used to say they liked working with me because I was “good, fast and cheap.” To some that may sound offensive, but I know what they meant by that and I take it as a compliment. I may not use those exact words, but generally I value the following factors in selecting outside counsel:
- Established relationship
- Expertise on the issue at hand
- Knowledge of our company and what we are building
- Flexible rate structure
- Concise and quick answers
Lawbook: You have more than a dozen years as an in-house lawyer? How has the role of the in-house counsel changed during your career?
Gottsegen: I am not sure if the role has changed or I have changed with in-house experience. For me, I saw my role change from the necessary evil to a relevant strategic business partner. Solving company problems cost effectively with as little risk as possible is a key task for any in-house lawyer. But going the extra mile and learning the business, the marketing strategies, and how to read financial statements has elevated my general counsel experience from being just a lawyer to being a legal and business advisor.
Lawbook: What role does diversity play in your decision for hiring outside counsel?
Gottsegen: Having been a female partner in a male-dominated law firm and GC in male-dominated corporate environments, I am sensitive to the demographics of the firms I hire. I have been actively involved in recruiting and mentoring young female and minority lawyers throughout my career. I applaud and hire those firms making strides to increase diversity.
Lawbook: Any questions that I have not asked that I should be asking?
Gottsegen: A message to young women pursuing a career in law and motherhood: Don’t delay having a family until you make partner. Insist on being involved with high-profile clients and on the front bench. Clients are demanding, but many of them are moms (or married to them) and will not be upset if you take a conference call from the zoo with monkeys screeching in the background. I carried a breast pump through airports, and a client emailed me a new lawsuit the day my son was born. You can do it all! Believe in yourself and build relationships with your colleagues and clients by proving that you are a both a devoted mother and dedicated lawyer. Yes, you might miss the pre-K holiday singalong and have occasional sleepless nights — life’s greatest rewards require sacrifice. Call me if you need a shoulder to lean on or encouragement to carry on!