A thought-provoking new report, “The Profitable Legal Department: How legal departments can prosper by generating revenue for their company”, urges management boards and general counsel to revaluate the remit of their legal teams.
The report examines global best practice and demonstrates how, by adopting the stance of stakeholders, in-house counsel and retained lawyers can develop recovery programs to deliver additional revenue for the business and turn the legal team into a profit centre. Commissioned by LexisNexis Martindale-Hubbell®, the report was compiled by Patrick Wilkins of European GC and Jeffrey Forbes of the Forbes Institute.
The experience and results of three different recovery programs are examined via compelling case studies from DuPont, Tyco and Standard Life, each of which have successfully generated additional revenue for their business. The report also sets out six-steps to setting up a recovery program, including consideration of five criteria that must be met before any recovery can be pursued.
For a free copy of the summary or full report: “The Profitable Legal Department: How Legal Departments can Prosper by Generating Revenue for their Company” click here.
Learn more about the report and how to establish a legal recovery program.
James Shomper, Corporate Counsel at DuPont
Dominic Buckwell, General Counsel at GE SeaCo Services Ltd.
Host: Patrick Wilkins from European GC