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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

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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

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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

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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 »

Measuring What Matters About Matters

enterprise legal management trends

Recently, LexisNexis CounselLink published its first Enterprise Legal Management Trends Report. One of the key metrics included in the report is blended average matter rates, which I think warrants more discussion. When I talk to most managers of legal departments or their procurement partners, their efforts to manage rates usually focus on individual timekeepers. It’s time to look at the big ... Read More »

This is Not Your Father’s Law Firm

FathersLawFirm

Note:  the following is a contributed post by Micah Johnson.  Several weeks ago, I had the privilege of attending the CounselLink Annual Customer Conference. The “privilege” part is sincere. It’s a valuable learning experience any time you get the opportunity to sit down and sample the opinions of inside and outside counsel … even more so when they’re clients. One ... Read More »

Seven Takeaways from BTI Corporate Counsel Benchmark Study

MoneyMagnet

BTI Consulting Group just released its newest study: Benchmarking Corporate Counsel Management Strategies which is based on 240 interviews with corporate counsel at large and Fortune 1000 companies. The data were collected between March 22 and September 12, 2012. Here are seven takeaways: General Counsel priorities are changing. The survey found the top goal for corporate counsel is delivering more ... Read More »

Proving Value – Looking Beyond the Wallet

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One of my favorite topics during meetings and presentations with General Counsel is measuring the value of legal departments. In my experience, nearly everybody in a corporation recognizes that the legal department adds value, but very few have concrete ideas regarding the right metrics to quantify that value. The default result has all the metrics focused on cost, thus perpetuating ... Read More »