In-house Insights: How legal teams are approaching value creation
In‐house counsel are principally tasked with the reduction of legal risk and providing a fast, convenient service which, as compared to external suppliers, is more tailored to the business thanks to a deeper understanding of its needs, pain points and is executed at a lower cost of service.
Yet, although the core role of legal has not changed, the relationship between the legal function and the business is evolving. Legal departments are becoming more integrated into their organisations. Our research revealed that 14% of general counsels surveyed did not sit on, or report directly to the Board — regardless of legal team size. It's evident that legal is becoming a strategic asset, not just an assurance function.
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