Organizational planning is essential to the effective management of a legal organization and involves the development of objectives and the strategies and policies to support those objectives. When it comes to hiring, developing and retaining top talent, corporate legal departments must compete with law firms and the public sector, even though many law graduates do not consider in-house positions to be their first choice (Figure 5). Many rightly believe that promotions within a legal department can be rare. Increasingly, mid- and senior-level positions are now filled by lawyers in private practice. This mostly one-sided traffic from private practice to industry means that many qualified individuals can compete for an open position, making it increasingly difficult for in-house lawyers to climb the ladder. Around the world, the most resourceful corporate legal departments are expanding their career options with a range of other innovations. Here are a few examples: · Exploration and analysis of unstructured data residing in the legal function for wider business use and contribution to the enterprise data lake; Finding the right person for the job, arguably the most important task of an attorney general, is complicated by the aforementioned changes in the legal ecosystem. While legal departments could previously choose from pre-screened law firm boards for help on specific issues, a much wider range of services (e.g. digitally assisted legal services, legal technology, insourcing providers, and litigation finance) is available. Legal advisors need to learn how to use these services (Figure 3). Isn`t the purpose of the legal team obvious? After all, the team is always busy (maybe too busy) and our business colleagues know that we are here to solve legal issues in the organization.
If there is a demand for what we do, we must be necessary and valuable. Argopoint works directly with legal leaders and stakeholders at all levels to ensure effective strategies are developed and implemented. Argopoint`s strategies are sustainable and promote both effectiveness and efficiency. Our approaches, based on deep industry knowledge, have helped many legal departments overcome internal and external challenges. 2. Prosecution of court cases and litigation The legal department represents and defends the interests of the company and its employees before courts and government agencies. The department initiates litigation in the event of judicial reviews, and the legal staff is responsible for drafting and enforcing regulations and collecting existing claims in favor of the company. This function is fulfilled through the following activities: The role of a legal advisor is no longer limited to managing the legal risk associated with the business in which he operates. Another key area where legal transactions can have an impact is diversity, according to respondents. Nearly three-quarters of respondents say diversity measures are present in their organization, with the most common focus on race/ethnicity, gender and sexual orientation.
Aligning the legal department`s activities with the company`s strategic objectives is often an insightful exercise that can help the general counsel articulate the department`s value proposition and decide where new investments are warranted. Because we work closely with general counsel and their teams across industries, they often wonder what structure and processes best prepare the legal department for change. While every situation requires personalized analysis and recommendations, we believe four general requirements should be at the forefront for any general counsel building a next-generation legal department: There is no single digital roadmap for the legal industry. However, common elements include: The legal department is responsible for providing legal services and advice to the company, its departments and employees. The department`s office faces a large number of different legal issues. These include: business development, contract management, real estate transactions, customer claims against the company for damages and product defects, litigation, labor law, sale and rental issues, debt collection, bankruptcy, case tracking and much more. All these activities form the workflow of the legal department. When considering the workflow as a whole, the following main functions of the legal department can be seen: The purpose of an alignment process is to achieve a better alignment between the goals, objectives, and targets of the legal team and the broader goals of the department/organization. In addition to using resources more efficiently, it will also make it easier for the legal team to demonstrate its value and individual lawyers to recognize their contribution to broader business objectives and performance.
The critical and subordinate tactical decisions of the legal department must be consistent with a high-level legal management plan based on clear objectives. It is imperative that the plan provides direction (and limitations) in the short and long term. The goal is to ensure that legal services support areas of greatest business need and/or highest legal risk. Many companies with a global presence are facing new waves of litigation filed by professional litigators who have developed sophisticated strategies to advance their lawsuits, including choosing jurisdiction and using online marketing to reach potential plaintiffs. This trend is accelerated by the growth of the litigation finance industry, which now has more than $11 billion to fund claims globally (Figure 4). Many litigators welcome funding because it covers their legal costs, allowing for predictability and potentially a fungible business portfolio. Applicants opt for financing solutions because they offer immediate risk relief and legal fees in exchange for certain upward limits. Here are several ways to unlock the latent potential of the legal department from a budget drag and opportunity bottleneck to a profit center, a valuable employee for the company, and a client favorite. To improve transparency and engage in discussions with executives, we recommend that a legal department understand and categorize the business activities that are driving the legal workload, such as drafting business contracts and preparing investment decisions (Figure 2). The Advocate General may use this assessment for different applications. Here are a few examples: Learn about the essential functions of legal affairs, including the many tools and resources Bloomberg Law offers to help legal services smoothly.
While executives don`t always know when and how to engage their in-house lawyers, the goal should start with clarifying the goals within the legal department. Because the department is often the company`s ultimate line of defense against a range of risks, the general counsel must clearly define its functional purpose and priorities. This often forces leaders to ask uncomfortable questions, such as: Legal operations is a relatively new field in law, but its core principles have been around for as long as law firms and legal departments have existed. CentriQS business management software allows you to create a custom entity view, such as the client view, to add clients to the database so that the legal agency staff can track clients. Legal operations functions include all the tasks required to succeed from a business perspective, helping teams deliver efficient and high-quality legal services to their internal or external clients. Much of the work in defining the objective of the legal team will fall to the GoC, in part because clarifying its own role and responsibilities will go a long way in defining the roles of the legal team as a whole. New forms of collaboration, increased litigation funding and technological advances are changing the legal ecosystem.