In an era when companies are dealing with risk management amidst economic uncertainties, the legal department is often viewed as part of the ongoing solution that fuels business growth. To pinpoint precisely how macroeconomic trends can shape the perspectives of senior in-house lawyers in terms of litigation and risk management, Burford, a leading global finance and investment management firm, decided to commission independent studies.
The research method involved comprehensive one-on-one discussions with about 66 senior legal professionals, including General Counsels (GCs), who are responsible for managing litigation at different companies spread out across U.S., Europe, Asia, and Australia. Please see more about these intriguing insights by downloading 2023 Litigation Economics.
A newly released study on the subject also offers an in-depth exploration into the strategies employed by top GCs when it comes to managing costs, maximizing recoveries, and collaborating effectively with law firm partners. The results will be particularly beneficial for legal professionals keen to learn how their counterparts are creatively unlocking value within the existing structures and systems.
This increasing value, brought in by today’s law departments, plays a significant role in complementing the business aspects of corporations. The study’s results are likely to shape and guide the future practices of in-house lawyers globally.