When it comes to securing data, legal departments have to be adept and on top of their cybersecurity protocols at all times. Legal data is vast, sensitive, and confidential. Should legal data fall into the wrong hands, there’s no knowing what adverse implications it holds for all parties involved, which is why an effective and secured strategy is so vital to success.
Force Majeure, literally translated, means superior force. In contracts, a force majeure clause defines the scope of unforeseeable events that might excuse...
The way General Counsel and the in-house legal teams function today is changing rapidly. “While the GC was traditionally seen as the enterprise’s lawyer-in-chief, they are now expected to perform a much broader role as a partner to the rest of the organization and a trusted adviser to senior management.”[1] At the same time in the world where clients need everything on the double, battling the expanding set of regulations puts the in-house lawyers under high-pressure not conducive for legal work. Needless to say, in addition, it poses reputational and commercial risks for the organization when Legal is over-stretched.
Alternative Legal Service Providers (ALSPs) are legal service businesses that take on legal processes from law firms and organizations, perform them at a lower cost, and often with increased efficiency, flexibility, and speed[1] [2].
79% of legal professionals agree that coping with the increased volume and complexity of information will have the most impact across the legal sector over the next 3...
Change management is especially important in the legal industry, as lawyers can be particularly averse to change—and for good reason– Bloomberg Law
For the risk-averse...
Automakers around the world are expanding warranty coverage to increase clientele and remain competitive, but the associated costs and risks are proving to be detrimental. The mechanized makeup of today’s automotive units has resulted in rising manufacturing defects, maintenance issues, and difficulties in identifying the source of defects. The mounting safety requirements and warranty litigation are terminating in highly liable products that exceed their break/fix costs[1]. Historical data has proven that Original Equipment Manufacturers (OEM) will face increased warranty expenses this year while suppliers may have to contribute a greater per-vehicle percentage to these expenses[2].
Centered in law, NDAs (non-disclosure agreements) need to find a place in your legal department, yesterday. NDAs are drafted to protect the interests of one or both parties writing it, who may wish to keep certain information private and/or from being shared with competitors. However, an NDA does not mask information that has already become publicly shared information.
The biggest tech disruptor in decades was spurred by the pandemic. Legal technology brought with it a cushion for the legal world, softening the blow for a hands-on, in-person industry. It also introduced legal departments to a world of software and tools that significantly lightens their load, reduces their overhead expenditure, and improves quality.
The Corporate Legal Department/General Counsel has taken on a bigger role in strategic risk management for the company and is quickly becoming a trusted advisor for the C-suite and the business units in an increasingly connected world where risks propagate across traditional boundaries. The key question they grapple with is how to continue to play that strategic role and keep their seat at the table.