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Demonstrating Value in In-House Legal Teams

Demonstrating Value in In-House Legal Teams


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About the Book

Expectations on in-house legal teams and general counsel have changed. The legal team is now evaluated like every other part of an organisation and the head of any in-house legal team is held accountable for costs and effective management. Managing Partner's crucial new report, Demonstrating Value in In-House Legal Teams, examines the challenges for lawyers in successfully demonstrating value, and the methods by which it can be achieved. This report is packed with in-depth insight and practical working guidance from a wide range of international experts from corporate legal departments, law firms, and academic institutions including: Ian Jones, lawyer and legal consultant who demonstrates how a legal team can be measured based on their value creation within an organisation Frederick J. Krebs, Senior Fellow at the Georgetown University Law School's Center for the Study of the Legal Profession who outlines ten rules for proving value and explains the steps needed to effectively demonstrate in-house legal department value The evolving role of the general counsel is covered by Kenneth A. Grady, Chief Executive Officer, SeyfarthLean Consulting LLC and he highlights how lawyers will need to use strategic and analytic skills to maximise their organisation's competitive advantage Dr Andrew Chester, Chief Executive of Iken Business Ltd explains how in-house legal teams can effectively define, measure, and demonstrate value Greg Bott, Head of the Client Development Centre at Addleshaw Goddard provides a number of practical ideas for how the legal function can improve its effectiveness when it comes to creating, delivering, and reporting value. Every in-house lawyer is expected to add value to their organisation beyond the supply of cost-effective, quality legal services.

Table of Contents:
Executive summary...v Demonstrating value creation by in- house legal teams... 1 The "Value Creation Conundrum"...2 Chasing rabbits...3 Value in the in- house legal world...4 From 2-D to 3-D...5 "In God we trust, all others bring data"...7 Is this the road to heaven or hell?...9 Ten rules for proving your value...11 Understanding value... 11 Using metrics to prove value...14 Conclusion...17 The twenty- first century lawyer as analytic strategist and innovator...19 Twenty-first century general counsel...20 General counsel as strategists...20 General counsel as innovators... 21 New skills for general counsel... 21 Legal data and analytics - Eras of the past...22 The new data and legal analytics era...23 Legal data and analytics in practice...24 Becoming a twenty- first century general counsel...25 The strategic and innovative general counsel...25 Demonstrating value through effective measurement... 27 Defining value...27 Measuring value...30 Demonstrating value... 31 Unlocking value through close collaboration with outside counsel... 35 It's not just about the tool, but how you use it...36 Exploring new models, together...40 Contents iv The value challenge: How in- house legal teams create, deliver, and report value... 47 The value challenge...48 What we heard from our panel of contributors...50 The scope for legal to have value impact...51 Is the GC valued and generating value?...51 Demonstrating and reporting value...52 Keeping it practical...55 TELUS Legal Services interview: Demonstrating the value of the in- house legal department... 59 The role of the general counsel/CEO relationship in demonstrating in-house legal department value... 63 A mutual understanding of legal sign- off... 63 The general counsel's nightmare...65 How the general counsel might improve the situation...66 The CEO's nightmare...67 How the general counsel might improve the situation...68 A short word beyond the world of the general counsel and the CEO...69 Two are better than one: Demonstrating value by getting the client involved... 71 A lawyer's role...71 A proper introduction goes a long way...72 Let's talk business...72 Take two...73 The reveal...73 Let them come back for more... 74 Final act... 74


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Product Details
  • ISBN-13: 9781783581412
  • Publisher: Globe Law and Business Ltd
  • Publisher Imprint: Ark Group
  • No of Pages: 74
  • ISBN-10: 1783581417
  • Publisher Date: 26 Jun 2014
  • Binding: Paperback


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