How General Electric's Diverse Model Helps It Cement Its Place in the Marketplace

Summary

General Electric (GE) is an American multinational conglomerate corporation headquartered in Boston, Massachusetts. With operations in over 140 countries and employing more than 350,000 people worldwide, GE is a veritable powerhouse in the global economy. Founded in 1892 by Thomas Edison and other prominent New England-based business leaders, GE has been on the cutting edge of technological innovation for more than a century.

GE is perhaps most famous for its production and sale of electrical appliances and equipment. GE has been involved in the development and manufacturing of a wide variety of appliances, including washing machines, refrigerators, microwaves, dishwashers, and air conditioners. GE has also been instrumental in the development and marketing of several advances in the field of modern medical technology, such as ultrasound machines and medical imaging equipment.

In addition to its role in developing and selling electrical equipment, GE has also been an important presence in the global energy market for decades. GE has engaged in the development and marketing of a variety of energy-related products and services, including nuclear plants and turbines, and solar and wind energy solutions. GE has also been a major player in the development and commercialization of gas turbines and other renewable energy sources.

GE's long and storied history of technological innovation and business success has earned it a well-deserved reputation as one of the most successful and influential companies of the modern era. Despite some serious financial setbacks in recent years, GE remains a major player in the global economy and continues to lead the way in innovation and business development. With its brilliant leadership, groundbreaking products, and impressive financial success, General Electric has paved the way for other major corporations to follow in its footsteps.

Questions Answered In This Article

 

What is the size of the legal team at General Electric?

The legal team at General Electric consists of over 950 in-house lawyers as well as top outside counsels such as Sidley Austin and Jones Day.
 

Who is responsible for managing worldwide legal operations at General Electric?

Vice President/General Counsel Brackett B. Denniston III manages worldwide legal operations at General Electric.
 

What experience is required to work as an in-house attorney at General Electric?

To work as an in-house attorney at General Electric, candidates should have good academic credentials and relevant experience. Some positions require up to 8-10 years of legal experience.
 

What kind of benefits do General Electric attorneys receive?

General Electric attorneys are provided with a substantial benefits package, including medical, dental, vision, and prescription drug coverage. They are also offered stock options and paid maternity leaves.
 

What opportunities are available at General Electric for attorneys wanting to work abroad?

General Electric offers many opportunities for attorneys wanting to work abroad, with positions offered in places such as Bangalore and Dublin.
 

History of General Electric

General Electric (GE) is one of the world's largest and most successful multinational corporations. Founded in 1892 by Thomas Edison, the company initially produced consumer goods such as incandescent lamps and electric motors, as well as innovative products such as the phonograph. Today, GE is a member of the Dow Jones Industrial Average and is involved in a wide range of industries, including consumer electronics, financial services, medical equipment, and industrial manufacturing.
 

Founding of General Electric

The beginnings of General Electric can be traced back to 1878, when Edison founded the Edison Electric Light Company. At the time, Edison was already a prolific inventor, having developed the incandescent bulb and numerous other products. After finding success with his businesses in the late 1800s, Edison decided to merge his various companies into one larger entity, forming the General Electric Company in 1892. From this point, the company quickly grew, eventually becoming a leader in both industrial manufacturing and consumer goods.
 

General Electric's Early Success

The early 20th century saw General Electric become a leader in the manufacturing industry. The company developed numerous products that revolutionized the way people lived and worked, including the X-ray machine, the radio, and the electric motor. By the mid-20th century, GE had become a major international presence and one of the leading companies in the world.
 

General Electric in the 21st Century

In the 21st century, General Electric continues to be a leader in the industry. The company is involved in a variety of businesses, including energy, aviation, healthcare, finance, and consumer electronics. In recent years, GE has focused on increasing its presence in the global market, with a particular focus on developing countries. In 2016, General Electric announced plans to invest $10 billion in Africa, further cementing its position as a global leader in the manufacturing industry.

From the plastic covers of cell phones to cruise ship engines to kitchen appliances, General Electric Company provides millions of Americans with many of their everyday items. What began with Thomas Edison's momentous invention of the light bulb in 1876 has now exploded into a 300,000 employee company with $131 billion worth of annual revenue. As the oldest company listed in the Dow Jones Industrial Index, General Electric consistently ranks among the highest ranks of Fortune 100 companies and has recently been chosen as "World's Most Respected Company" in a survey of 903 global CEOs conducted by Financial Times. Despite a wave of corporate distrust after Enron and Tyco, as well as the terrorist attacks of 9/11, CEO and Chairman, Jeffrey R. Immelt appears to be successfully adapting GE to the changing business environment.
 

Immelt has maintained the corporation's position as one of America's most admired companies by focusing not only on profits, but company culture. The 11 separate companies within General Electric all follow the corporation's commitment to creating a friendly and pleasant workplace environment. The corporation frequently wins awards for its efforts, including making it onto the list of "100 Best Companies for Working Mothers" by Working Mothers magazine. Minorities also find a hospitable atmosphere at General Electric. The company has created support networks for African Americans, Hispanics, and Asian-Pacific professionals in order to help facilitate their careers. While the offices are understandably infused with corporate and bureaucratic structure, employees find that the structure provides a stable and considerate workplace environment.

With over 950 in-house lawyers as well as top outside counsels such as Sidley Austin and Jones Day, General Electric's legal team is larger than most law firms. Lawyers provide legal advice in every aspect of the company, including GE Insurance, GE Medical Systems and NBC, and in every geographical location, including the Netherlands, Ireland, and India. Newly appointed Vice President/General Counsel, Brackett B. Denniston III manages the worldwide legal operations of General Electric. Previous General Counsel, Ben W. Heineman, Jr., now oversees all legal matters as Senior Vice President of Law and Public Affairs. While both these attorneys work with the encompassing General Electric Corporation, the majority of in-house counsels are hired to work in specific General Electric Companies, such as patent attorneys for GE Global Research or bankruptcy attorneys for GE Commercial Finance.

General Electric looks to hire in all areas of legal talent, including attorneys with corporate, litigation, intellectual property, and real estate law backgrounds. The legal opportunities available at this solid company seem to be limited only by the qualifications of candidates. The difficulty of getting an in-house position at General Electric depends on the particular area of law, but it is certain that candidates should not only have good academic credentials, but also plenty of relevant experience. Some positions require up to 8-10 years of legal experience.

In addition to providing competitive corporate salaries for all its attorneys, General Electric is able to offer a substantial benefits package. The General Electric Health Care coverage includes medical, dental, vision, and prescription drug benefits. And on top of elderly care, child care options and paid maternity leaves, General Electric provides perhaps the greatest bonus of all: stock options. In fact, about one-third of all General Electric's professional employees choose to make use of this advantage. Although its stock prices have taken a dip in recent years, the stability of General Electric stock, as well as its continuous profits, provides a huge incentive for lawyers looking for a change from firm life. General Electric also supplies a plethora of opportunities for attorneys bitten by the traveling bug and often has positions to practice law in foreign places as varied as Bangalore and Dublin.

Jobs

General Electric currently has several openings in its domestic and international offices, including opportunities for experienced intellectual property, litigation, and corporate lawyers. More information regarding these attorney positions at General Electric can be found in the LawCrossing jobs database.