Winning Research Explores How Boards Can Build the Expertise Needed to Navigate 21st-Century Challenges
Washington DC, April 24, 2025 (GLOBE NEWSWIRE) — The Association of Corporate Counsel (ACC) today announced the winner of the Carl Liggio Memorial Paper Competition. The selected paper offers a timely and insightful analysis of how corporate and governing boards can equip themselves to address emerging challenges — such as cybersecurity, artificial intelligence, and geopolitical risk by balancing internal expertise with external advisory support.
The paper, titled “Governance Gambits and Business Judgment in In/Out-Sourcing Tactics,” was authored by Maria Lucia Passador, an Assistant Professor of corporate law at Bocconi University in Milan, Italy, who specializes in corporate governance. The paper will also be published in the American Business Law Journal.
“ACC congratulates Professor Passador as the winner of the 2025 Carl Liggio Memorial Paper Competition,” said Veta T. Richardson, ACC president & CEO. “Professor Passador provides in-house counsel with an insightful and invaluable resource as they engage in the formation and governance of corporate boards. We hope this recognition encourages more much-needed scholarly analysis of the many ways today’s general counsel help ensure their organizations uphold strong corporate governance.”
“The role of in-house counsel — and particularly general counsel — has evolved into a complex balancing act, requiring both legal acumen and strategic oversight,” Richardson said. “By leveraging the enduring expertise of internal directors and strategically integrating the nimble insights of external consultants, in-house counsel can help mitigate legal exposure and enhance overall accountability within their organizations.”
The competition, named in honor of Carl Liggio who was a co-founder of ACC and served as its second board chair, offers a $20,000 prize to encourage academic research of how management reporting structures impact the well-being of organizations, particularly management structures involving the role of the chief legal officer.
Professor Passador will present the winning paper at the 2025 ACC Chief Legal Officer Global Summit, taking place May 21 – 23, 2025, in Barcelona, Spain. The CLO Summit features roundtables, interactive plenaries, and ample networking opportunities. The summit is open exclusively to the highest-ranking legal officer of an organization.
“Over the years, we have witnessed firsthand how the dynamics of corporate boards have shifted, particularly with the rising demand for directors who bring specific expertise, such as finance, risk management, or technology, to the table,” Professor Passador said. “However, this integration of specialized knowledge also highlighted the delicate balance between internal and external perspectives. These evolving dynamics are what prompted me to explore this critical issue further.
“The Liggio Call for Papers offered an ideal platform to raise awareness on this matter and to present my research: by submitting my work, I aimed to contribute to the growing knowledge on this subject, particularly as it pertains to how corporate governance can be reimagined in an era where boards must increasingly rely on specialized expertise, both internal and external, to navigate the complexities of modern business,” she explained.
Please contact Amy Hawkes Repke at a.hrepke@acc.com if interested in the full study.
Media Contact:
Amy Hawkes Repke, ACC Vice President and Chief Content Officer
a.hrepke@acc.com | 1-202-696-1555
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About ACC: The Association of Corporate Counsel (ACC) is the premier global legal association that promotes the common professional and business interests of in-house counsel who work for corporations, associations and other organizations through information, education, networking, and advocacy. For more than 40 years, ACC has set the standard for in-house counsel and raised awareness regarding the value of the chief legal officer in the C-suite and boardroom. With more than 47,000 members employed by over 10,000 organizations and spanning 100+ nations, ACC connects its members to the people and resources necessary for both personal and professional growth. By in-house counsel, for in-house counsel® remains the foundation for ACC’s market leadership. For more information, visit www.acc.com and follow ACC on LinkedIn, X, and Facebook.
CONTACT: Amy Repke Association of Corporate Counsel 2026961555 a.hrepke@acc.com
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