Although this is a US based survey conducted by the Association Of Corporate Counsel.. we’d imagine its makes interesting reading and is applicable to most jurisdictions..
The association has sent out a press release revealing the resulst of their latest survey…
They write on 27 April….
Chief Legal Officers Express Concern Regarding Economic Downturn, Regulatory Scrutiny and Law Firm Business Model
Association of Corporate Counsel’s 9th Annual CLO Survey Reveal CLO’s Increased Focus on Costs, Compliance Programs and More Efficient Use of Outside Counsel
Chief Legal Officers reveal that the economic downturn has had a significant impact on their legal departments, with an overwhelming sentiment of "doing more with less," according to results from the Association of Corporate Counsel’s (ACC) 9th Annual Chief Legal Officer Survey. Over one half of respondents (54%) say the impact of the economy has been felt, most notably in relation to budgetary constraints, controlling costs, increasing productivity and limiting fees paid to outside counsel.
"The role of the CLO as a key player in the company’s executive leadership is more important now than ever," explained ACC President Frederick J. Krebs. "The economic landscape has changed the way CLOs must manage their legal departments in order to respond to increasing demands; the CLO’s success in balancing tough priorities creates even more respect for their role within their respective organizations."
The survey found "compliance" as being among the top three areas of focus in the coming year. Respondents anticipate an increase in regulatory oversight, which will likely require more cost effective approaches to government inquiries. Budget constraints, however, are forcing in-house counsel to evaluate where cuts must occur without exposing the company to undue risk.
Read the full press release at
