In a bid to increase value within their teams, an estimated 98% of General Counsels (GCs) are making adjustments to their departmental structure, a trend sparked largely by calls from management for more cost-efficient internal legal frameworks. Interestingly, many CEOs and CFOs prefer decentralization, a model where lawyers work within their respective business teams, due to the perceived economic benefits to the business.
However, decentralization is not without its fair share of problems. It often contributes to inefficiencies, lack of visibility, and ineffective risk mitigation. Ultimately, these issues could act as detriments to the business’s bottom line; a fact that hasn’t escaped the notice of GCs.
This raises a key question: Why are GCs implementing changes they seem to disagree with? What do GCs truly want, and how can they effectively communicate their preferences to the leadership?
To address these concerns, a webinar, set to take place on November 30th at 1 p.m. ET, will explore how to utilize data to fortify the lobbying process for an organizational structure that will truly empower legal teams, enhancing their ability to cater to business needs.
Participants can look forward to valuable insights, including:
- Understanding legal department organizational models, including gaining insights into centralized, hybrid, and decentralized models, their unique characteristics, and associated benefits and risks.
- Gleaning insight into the trend toward decentralized legal teams, understanding the potential implications for the legal team, business operations, and the business’s bottom line. This will also include strategies to identify and articulate challenges, inefficiencies, lack of visibility, and risks associated with decentralized legal department structures.
- The nuts and bolts of an effective structure; participants can expect a five-step blueprint for constructing a future-proof legal department that fosters collaboration within C-Suite executives and a core team of legal generalists.
The panel will consist of experts Zach Abramowitz from Killer Whale Strategies, David McVeigh and Ashlin Quirk from Axiom, and Olga Mack from LexisNexis.
Concerned legal professionals are invited to register here for the invaluable webinar scheduled for November 30th.
This article is based on information from an article in Above the Law.