Being a CEO isn't as cushy a job as it used to be. According to a recent study by Booz Allen Hamilton, the rate of CEO dismissals has increased 170 percent since 1995, and the average CEO tenure has dropped to only 7.6 years. The situation is unlikely to change any time soon; the shaky economy, public skepticism of corporate America and increased regulatory scrutiny are bound to keep top executives in heightened peril of dismissal for months, or years, to come.

With memories of Jeff Skilling and his ilk still fresh in their minds, CEOs are relying more than ever on the advice and guidance of their general counsel.

“A whole host of issues have converged to make the CEO's life a challenging one,” said David Goehl, senior director for business development at LexisNexis Martindale-Hubbell. “But I think it's an opportunity from the in-house counsel's perspective, as well as outside law firms, to work together to benefit the CEO.”