Law360, New York (February 09, 2012, 12:49 PM ET) -- In-house corporate counsel have lamented that internal investigations represent a necessary cost of doing business for corporations. Since Enron, these internal investigations have become more frequent, perilous and complicated. Companies and their boards are deciding to preemptively perform internal investigations upon notice of alleged wrongdoing because they may be led to believe that if misconduct is discovered, the company may seek to avoid prosecution or other onerous sanctions as a result of their affirmative corrective action.

If the government is investigating, however, it may request that...