GCs have much to learn by comparing two monumental global powers: BP and JPMorgan Chase.

The 2010 Deepwater Horizon Oil Spill had a defining impact in the sense that one can barely mention BP without the spill coming immediately to mind.

JPMorgan's mortgage debacle, a more recent event, had the bank's $13 billion settlement making headlines this past fall and numerous derivative government actions are just getting underway. JPMorgan is in danger of being defined as a result of the scandal. In both cases, we're talking about more than just a stain on the corporate escutcheon. We're talking about reputational damage that many observers argue might be permanent historic legacy, dwarfing what's been achieved in the past.