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Tag Archives: legal operations

5 Best Practices for Corporate Legal amid Globalization

5 Best Practices for Corporate Legal amid Globalization

Nearly 90 percent of companies are moving into new global territories, as we speak, according to Head of Legal Operations and Chief of Staff at Uber, Susan R. Packal. She expressed her ideas in a contributed piece for the ACC Docket, which was syndicated on the Hyperion Research website. In other words, corporate globalization is officially booming. “The evidence for ... Read More »

Corporate Legal: Where the Magic is Happening

Corporate Legal Where the Magic is Happening

To tag on a famous marketing slogan – the corporate legal department today, is not the legal department our parents might have known.  With the swing of the in-house-outside counsel pendulum, legal departments have increasing support from the businesses – but also higher expectations to be strategic partners. Legal departments are more carefully selecting the work that comes in, and ... Read More »

Legal Ops Grows; CLOs Strive “See Around Corners,” says Survey

Legal Ops Grows; CLOs Strive “See Around Corners” says Survey

Corporate legal departments will experience healthy growth this year, according to the latest findings from the Association of Corporate Counsel’s (ACC) Annual CLO Study. The survey finds legal operations roles are in high demand and broadly, CLOs plan to invest more money in-house, than in previous years. Last week we wrote about how the survey relates to current corporate legal ... Read More »

Study Suggests 4 Corporate Legal Trends on the Rise

Study Suggests 4 Corporate Legal Trends on the Rise

The ACC Chief Legal Officers (CLO) 2016 Survey suggests internal corporate legal spend now surpasses outside legal spend. According to the study, CLOs reported 53 percent of their budget is now dedicated to internal spending, while just 47 percent is allocated to outside counsel. Issues of compliance and ethics were named among top concerns with regulatory requirements and data breaches ... Read More »

Practical Tips for Using Outside Counsel Guidelines

Practical Tips for Using Outside Counsel Guidelines

The cornerstone of a productive client and outside counsel relationship starts by setting clear and consistent expectations for the legal department at the outset of the client engagement. So says, Kelly Spratt-Szarzynski, senior strategic consultant on the LexisNexis® CounselLink® team. This involves developing an outside counsel guidelines document that formally communicates the legal department expectations.  These guidelines apply to all ... Read More »

The Top 5 Law Department Metrics for Insurers [Infographic]

The Top 5 Law Department Metrics for Insurers [Infographic]-header

Law departments within insurance companies demonstrate a high level of sophistication in corporate legal maturity.  Consider the following: Legal costs are lower. Median partner billing rates are the lowest among the practice areas tracked by the CounselLink® team. Rates tend to be stable. Legal rates in insurance work also have the least volatility with a score of 2 out of ... Read More »

Insurance: Legal and Claims Rate Metrics with Most Value

Insurance Legal and Claims Rate Metrics with Most Value

If corporate attorneys across the market are seeking a sharper understanding of legal department metrics, then they might do well to review what peers in the insurance vertical are doing to measure litigation costs. In legal and claims work, in the property & casualty insurance vertical, efficiency matters. As a result, legal professionals working in insurance claims tend to be ... Read More »

Law Firm Competition: Buyers Becomes a New Entrant

Law Firm Competition Buyers Becomes a New Entrant

One of the five factors in Porter’s Five Forces model, a framework for evaluating a competitive environment, is the “threat of new entrants.” The 2015 Law Firms in Transition study by Altman Weil finds this “threat” is a broadening category. “Eighty-three percent of law firm leaders say they believe competition from non-traditional service providers is a permanent change in the ... Read More »

7 Ways to Prove the Value of the Legal Department

7 Ways to Prove the Value of the Legal Department

Note: Dan Ruderman with the strategic consulting team also contributed to this post. Proving value is always high on the list of priorities for corporate counsel. Perhaps it’s because legal services are a credence good, as D. Casey Flaherty says. There are however recognized techniques for proving value with data, processes improvement and strategy.  Here are seven ways to prove the ... Read More »

Litigation Costs Study:  How P&C Shops are Keeping a Lid

How P&C Shops are Keeping a Lid on Litigation Costs

It’s a balancing act:  fraud versus fair settlement and loss costs with expenditures.  As far as legal departments go, those working insurance claims for U.S. property and casualty (P&C) carriers are under constant pressure to drive operational efficiency, while providing quality customer service. To find out how P&C claims shops are keeping a lid on costs, we surveyed 86 P&C ... Read More »