Risky Business for In-House Counsel?

I've written in the past about the pro's and con's of leaving private practice for a corporate job. Overall, GC's seem to have a high level of career satisfaction. Here is more evidence of that. But GC jobs can be less secure than law firm jobs because partners have a more diversified portfolio of clients.

Corporate mergers are a risk for GC's but there are others. For example, the backdating scandal highlights additional risks for lawyers who decide that life might be better on the inside.