In times of economic uncertainty, legal departments within corporations are increasingly seen as pivotal tools in the management of risk and fostering business growth. A greater comprehension of how macroeconomic trends influence the thought process of senior in-house lawyers pertaining to litigation and risk management could potentially assist these departments in better serving their businesses.
Independent research conducted by Burford also substantiates this approach. The research comprised of comprehensive interviews with 66 General Counsels (GCs), heads of litigation, and other senior lawyers in charge of litigation, hailing from organizations located across the U.S., Europe, Asia, and Australia. This study serves as a deep dive into the workings of savvy legal departments and their strategies.
The crux of this research is the approach of top GCs in dealing with rising costs, optimizing recoveries, and fostering productive relationships with law firm partners. The results of this study, titled ‘2023 Litigation Economics’, offer valuable insights for any legal professional involved in litigation process within a corporate structure. Readers keen to draw from these insights can explore the study in further detail by downloading it via the earlier radicated link.
As the legal landscape continues to evolve in high uncertain times, such insights are instrumental in keeping legal departments at the forefront of the solution, aiding businesses to not just survive, but thrive.