Posted by: johnocunningham | June 26, 2018

What’s Up with Chief Legal Officers

The Association of Corporate Counsel has published its findings from its annual survey of Chief Legal Officers, and the results are informative and relevant to both in-house lawyers and outside law firms who serve them.

A total of 1,275 CLOs in 48 countries provided responses to the survey, which revealed that rapidly evolving regulatory changes are keeping them up at night more than any other issues.  Data breaches and information privacy issues were of the next most concern to CLOs with data breaches having affected one in four respondents directly.

The big news may be that more than half of CLOs are expecting budget increases, instead of cuts, for the first time in many years. But law firms should not pop the champagne corks for outside spending, as most of the increases are being directed at growing in-house staff and resources (and the threat of non-traditional providers of legal solutions has not gone away either). Only one in three CLOs expects to send more work to outside counsel this year and 17 percent actually expect to decrease their outside counsel spending.

Those who are interested can read a free synopsis offered by the ACC, or they can order the full report for $895 for non-ACC members.

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