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Compliance, 4th priority of General Counsels


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Compliance, 4th priority of General Counsels

  1. 1. T: +44 (0)207 368 9417 E: Legal Exchange Network Pressure Mounts on the General Counsel How Can One General Counsel Add Value, Closely Control Costs and Manage Global Risk? T: +44 (0)207 368 9417 E: Legal Exchange Network
  2. 2. T: +44 (0)207 368 9417 E: Legal Exchange Network Introduction Responding to the (r)evolution of the General Counsel’s role The role of General Counsel is undergoing a sea change. The constantly evolving regulatory environment, economic and political volatility, an appetite for growth amongst organisations, new legal and compliance technologies, plus the boom of internet and, importantly, social media usage, mean that the General Counsel’s role is unrecognisable from that of five to 10 years ago. • How do legal leaders manage legal and compliance risks today? • What are the skillset and competencies of the General Counsel of the future? • How do you drive win-win relationships with external counsel? • What tools and technologies are a must in the legal department’s toolbox? The Legal Exchange Network interviewed industry leaders of Coca-Cola Enterprises, Eaton, Covidien and more to explore the changing role of the General Counsel. We have dug deep to find out what strategies, processes and tools legal directors are implementing to drive efficiencies in their organisations, effectively mitigate risks and create greater business alignment. Plus, we also examined the challenges facing legal leaders in 2013 and beyond. We hope that these resources will allow you to benchmark your own strategies and initiatives and apply ideas to your own department. Livia Trubenova Exchange Producer Corporate Counsel Exchange Tel: +44 (0) 207 368 9417 Staying Connected The Exchange does not just provide you with a once a year opportunity to meet with your peers - through a range of online channels we are delighted to be able to facilitate all year round learning and networking for the global legal community. Stay connected through Twitter, LinkedIn and our Resource Library to get the latest news, event updates, exclusive videos, whitepapers and much more. Follow us! #CCEx Connect with us! Resource Library
  3. 3. T: +44 (0)207 368 9417 E: Legal Exchange Network In what do legal leaders plan to invest in 2013 to 2014? READ ON! On the following pages you will find a series of interviews we have conducted with General Counsel from across a range of industries in order to dig a little deeper into their key challenges plus current and future priorities. Plus in these interviews you can discover what solution providers and firms are assisting them in the development of their legal function globally. On this page you will find information charting the investment priorities of General Counsel when asked what they plan to invest in over the next 12 to 18 months*. Increasing the efficiency of legal departments is a top priority for 57% of General Counsel, with legal spend management a focus for 51%. These statistics match up with themes you will find throughout this eBook. In recent years, as pressure has mounted on the General Counsel to more tightly control costs and add value, legal leaders are looking at new technology plus better management of global compliance to cut costs whilst meeting the needs of their specific business. Profile of respondents Job Titles We surveyed the following individuals from within 60 global corporations: General Counsel, Group General Counsel, Chief Legal Officer, Head of Legal, and VP Legal. Industry The main industries surveyed were: Financial Services, Mining, Oil & Gas, Manufacturing, Pharmaceuticals, Biotech, Telecommunications, Defence, Electrical, Retail and Transportation. *Statistics taken from profile forms for attendees of the October 2012 Corporate Counsel Exchange Investment priorities in the next 12 - 18 months Contract & Documentation Management Increasing Legal Department Efficiencies Legal Spend Management Compliance Programmes Maximising on M&A Opportunities Improving Law Firm Management & Billing Effective Risk Management Data Protection & Privacy Use of Legal Technology Recruitment & Retention LPO Effective Litigation Management Social Media 61% 57% 51% 47% 41% 39% 39% 39% 35% 31% 25% 25% 22%