41% of CLOs Make Changes to Boost Business Value

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New research by The BTI Consulting Group reveals an increase in number of corporate counsel looking to deliver more value to business units.

Value Increases in Importance as Top Corporate Counsel Goal
New leadership at the top is also a sign of more change on the horizon. New Chief Legal Officers are hungry to drive value in their legal departments.

41% of corporate counsel look to add more value to their business in 2014; up from 32% in 2013, new research with C-level executives at the world’s largest companies by The BTI Consulting Group reveals. Delivering value overtook cost control as corporate counsel’s most important goal in 2013 and in 2014, more CLOs have joined the march.

BTI’s latest research finds CLOs look to delivering more value to business units by:

  •     Getting products to market faster
  •     Anticipating regulatory hurdles
  •     Improving IP protection
  •     Getting deals done faster with improved diligence

Law firms add value when they help their clients achieve these objectives. All signs indicate corporate counsel may not be getting the value-added service they had hoped for from their law firms.

To achieve these goals CLOs are taking matter into their own hands and bolstering their internal resources. New attorneys and larger budgets in-house show corporate counsel are tackling ways to deliver value themselves.

“New leadership at the top is also a sign of more change on the horizon,” comments Michael B. Rynowecer, President of BTI. “10% of companies report having a new Chief Legal Officer in place, and they’re hungry to drive value in their legal departments.”

BTI conducted more than 300 independent, individual interviews with CLOs and General Counsel at Fortune 1000 companies and large organizations. Now in its 13th year, BTI conducts the only continuous benchmarking market study of corporate counsel worldwide. The complete analysis is available in BTI’s new study, BTI Benchmarking Corporate Counsel Management Strategies 2014, found here: http://www.bticorporatecounselbenchmarks.com/.

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.

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Michael B. Rynowecer
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