The new GCs—adept at operating under low-growth, constrained legal budgets—are looking to shake up the role of the legal department.
Wellesley, MA (PRWEB) February 21, 2014
10% of large organizations started 2014 with a new General Counsel in place, and these new GCs are shaking up the role of the legal department. The BTI Consulting Group’s new research with C-level executives at the world’s largest companies reveals the new breed of GC’s laser focus on efficiency and supporting the business sparks efforts to spearhead innovative changes.
The new GCs—adept at operating under low-growth, constrained legal budgets—are looking to shake up the role of the legal department by:
- Reorganizing to better support business units and business goals
- Shaking up the core law firm roster—new GCs typically bring in at least one new law firm to take on a substantive role
- Aggressively attacking litigation spending
- Tenaciously driving revenue-generating areas: IP, Regulatory, M&A
These changes are opening up new opportunities for law firm business development.
“The more aggressive law firms will not wait to be asked for a briefing,” comments Michael B. Rynowecer, President of BTI. “Outperforming competitors demands being proactive and finding a way to make yourself part of the transition team.”
“Some law firms will view the appearance of a new general counsel as a threat,” Rynowecer continues. “But those who see opportunity will have the advantage.”
BTI conducted more than 300 independent, individual interviews with CLOs and General Counsel at Fortune 1000 companies and large organizations for this year’s report. Now in its 13th year, BTI conducts the only continuous benchmarking market study of corporate counsel worldwide.
Find more information about this and other compelling research at http://www.bticonsulting.com or contact BTI at +1 617 439 0333. BTI is the undisputed leader in providing high-impact strategic client research to professional services firms and their clients.