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Trends in ELM: LexisNexis CounselLink Annual Customer Conference

CounselLink User Conference 2014

The CounselLink team has opened up registration for the 2014 CounselLink Annual Customer Conference.  This year the conference will be held in the relatively quiet country side of Northern Virginia – about 30 miles west of Washington, DC.   This year’s event will focus on the challenges and opportunities facing corporate legal departments. We’ll be hosting a series of panel ... Read More »

6 Business of Law Infographics you Might have Missed

business of law infographics

Infographics are an increasingly popular way to visualize data within the legal industry.  Infographics are particularly useful for quickly understanding what data means by using visual references, such as space, size and sequence. For those so inclined, we’ve curated a couple dozen infographics related to the legal industry on a Pinterest board titled Law Infographics. While the Pinterest board rounds ... Read More »

How Inside Counsel can Use Data and Analytics

inside counsel data analytics

Is cost an effective metric of value delivered to an organization? Kris Satkunas, who approaches corporate legal department metrics with a numerical focus, made a compelling case. In her recent post, Legal Department Metrics: Cost vs. Value, she notes that cost while widely used isn’t the only logical measure of value. She’s written fairly extensively on the topic including a ... Read More »

Legal Department Metrics: Cost vs. Value

legal department value metrics

When asked if metrics provide a useful and accurate measure of the legal department’s value to the business, 66% of GCs say “no” in a recent survey.  Is this at all surprising?  The legal department metrics, used in most organizations, are not aimed at measuring value – they measure the legal department’s cost to the organization.  Do I think my ... Read More »

Provoking Disruptive Thinking at #LTNY

Provoking Disruptive Thinking at LTNY

Likeminded people tend to network or hang out with likeminded people – it’s a phenomenon that may hinder innovation in any industry, let alone legal. This was an underlying theme to Professor Luke Williams’ Legal Tech 2014 session: “Disrupt” for Lawyers – Think the Unthinkable to Spark Transformation in the Legal Industry on Tuesday. Mr. Williams offered five steps to ... Read More »

5 Brief Data Points from a Survey of GCs

legal-work-consero

The Consero Group recently released its Winter 2014 General Counsel Data Survey, which is a brief snapshot into the market view from the general counsel perspective. According to Corporate Counsel, an ALM publication: The executive consulting firm, partnering with Applied Discovery, asked 10 questions of GCs who attended a December General Counsel Forum. Consero received 52 responses. While the sample ... Read More »

8 Distinctive Characteristics of the Billion Dollar Legal Department

billion-dollar-legal-dept

Looking across the entire sample in the 2013 Law Department Metrics Benchmarking  – the data indicates corporate legal departments employ roughly 8.3 fulltime employees, including 4.7 attorneys in the corporate legal department for every $1 billion in revenue. This looked like an interesting segment of the survey sample, so we drilled down on the data specific only to those respondents from largest companies.  Twenty-eight survey respondents ... Read More »

5 Takeaways from the Legal Department Benchmarking Survey

legal benchmarking

ALM’s annual survey, the 2013 Law Department Metrics Benchmarking Survey, may give us reason for cautious optimism in corporate law as we head into 2014. “It’s been a long, difficult few years for U.S. corporate legal departments. In the wake of the financial crisis and the Great Recession, many general counsel had to make painful cuts to their ranks and tighten ... Read More »

9 Must Read Reactions to the ELM Trends Report

litigation spending matters

What set the first-ever Enterprise Legal Management Trends Report apart wasn’t just the conclusions, but the data set that produced those conclusions. This study was not a survey but rather an analysis of invoices paid. In other words, we didn’t ask corporate counsel what they were doing, or even what they planned to do but rather, we looked at what they did. ... Read More »

ELM Trends Report: Turning Information Into Action

timthumb

Note:  This post was originally written by Mike Haysley.  As previously discussed in this blog, LexisNexis CounselLink recently published its first Enterprise Legal Management Trends Report. This report contains a wealth of information on evolving practices by corporate legal departments regarding legal spend management. An important question for individuals in roles responsible for managing legal spend – be it General Counsel, legal department ... Read More »