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Corporate Counsel

3 Ways to Provide the Best Insurance Defense at the Best Cost

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Finding qualified law firms for policyholders is top priority for The Loya Insurance Group, but knowing which firm to select for a particular case isn’t always an easy undertaking. The auto insurance carrier is based in El Paso, Texas, but serves policyholders in 11 states through more than 526 agencies. According to Dan Ruderman, Director of Strategic Consulting for CounselLink, ... Read More »

Breakfast Learning Lab Sessions to Debut at CounselLink Conference 2017

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Would you care for some knowledge with your morning coffee and bagel? If so, you’ll find it at CounselLink Conference 2017. New this year at the CounselLink Conference will be Breakfast Learning Lab Sessions conducted by LexisNexis Senior Trainer, Amy Nelson. Tuesday, June 6, Amy will present a Beginner Reporting Learning Lab to provide users who are new to reporting ... Read More »

Law Firm Partner Rate Gap Widens, Consolidation Increases

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Size does matter, at least when it comes to law firm billing rates. According to findings from a new CounselLink Enterprise Legal Management (ELM) Trends Report from LexisNexis, partners in the nation’s “largest 50” law firms earn significantly more than those in the second-largest group. The latest ELM Trends Report reveals that firms with 750 or more attorneys now command ... Read More »

Video Preview: Latest CounselLink Enterprise Legal Management Trends Report

6 Key Metrics

From the time the first edition was published in October of 2013, the CounselLink Enterprise Legal Management Trends Report was unique in its approach. Unlike industry studies based on surveys, the data for the Trends Report was derived from a detailed analysis of invoices processed through the CounselLink ELM solution. Instead of drawing its conclusions from what corporate law departments ... Read More »

Congratulations On Your New Legal Software! Now What?!

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You did the research. You compared the different options and features and made your choice. You even got the Purchase Order approved (finally). Now it’s time to move into the implementation phase. Set the stage for getting everyone affected by the change, from leadership to staff, working on the same page with these 9 tips for a successful software implementation. ... Read More »

A Blueprint for Legal Department Budgeting and Forecasting – Part 2: Best Practices

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In Part 1 of this 2-part series on legal department budgeting and forecasting, I discussed many reasons legal departments choose to implement matter budgets. I also identified six key benefits that result from implementing a formal matter budgeting process. This concluding installment explores proven best practices for ensuring the effectiveness of the budgeting and forecasting process. First Things First When ... Read More »

Corporate Law Departments Rank Financial Metrics Most Important

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A new LexisNexis CounselLink study conducted in partnership with the Corporate Legal Operations Consortium (CLOC), indicates corporate legal operations professionals rank financial metrics as most important to the legal department. Participants were asked to rate 15 key metrics on a scale of 1 to 10 based on their level of importance to the business. Each key metric outlined in the ... Read More »

The Value of KPIs in the Legal Department

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Most corporate legal professionals see the value in using data to improve performance; however, Hyperion Research data indicates less than one-third of corporate legal departments are actually using data-driven analytics. Yet 58% of the same survey respondents believe that company executives understand the risks and opportunities presented by their legal matters, and more than half feel confident that they understand ... Read More »

A Blueprint for Legal Department Budgeting and Forecasting – Part 1

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Are you accountable for tracking your legal department’s spend? Are you currently using matter budgets, but don’t feel that you have a good way to predict your organization’s future legal spend accurately? Or, is your legal department maybe one of the approximately 40 percent that don’t do any budgeting at all? If you fall into any one of these groups, ... Read More »

ABA Legal Tech Survey Finds Use of Predictive Coding Still Related to Size of Case

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The 2016 Legal Technology Survey Report, published by the American Bar Association’s Legal Technology Resource Center (LTRC), documents a common misconception in the legal industry that technology assisted review software tools are only useful in large cases. “There is a myth in our industry that predictive coding and other smart review tools are only useful and cost-effective in large-scale commercial ... Read More »