The conditions of ongoing economic uncertainty have intensified the necessity for businesses to maximize value and minimize costs across all departments – including the legal sector. This pressure is leading many legal teams to seek more beneficial strategies when dealing with commercial disputes.
Many senior in-house legal professionals articulate a need to deepen their own understanding of the way they handle claims, judgments, and unenforced awards. Such ambitions are aimed at raising the potential value of these disputes without contributing to rising costs.
To delve into how these professionals are approaching this challenge in 2023, the firm Burford Capital Ltd. initiated a piece of independent research. This study sought to ascertain the effectiveness of these new strategies and whether they’re achieving the desired result.
Readers can find the full details of their findings by downloading the report, which offers a full exploration of topics such as:
- The influence of economic conditions on the management of costs and partners.
- Understanding the issue of unenforced awards.
- The growing importance of implementing cost and risk-sharing strategies.
This research adds valuable insight into the mindset of in-house lawyers in 2023. It draws conclusions from numerous interviews with seasoned in-house litigators, offering a valuable look into how companies are seeking to add value to their dispute processes in these uncertain economic times.