Managing risk, legal spend and the internal client: What are your - - PowerPoint PPT Presentation

Managing risk, legal spend and the internal client: What are your priorities for 2012?

Panel Discussion:

WIN: What in-house lawyers need Knowledge, support and networking for the in-house lawyer community

www.dlapiperwin.com

In-house counsel priorities for 2012 In January 2012 DLA Piper Australia undertook a survey of legal counsel across the private and government sectors to seek their views on the trends and challenges they expected to face in 2012.

Here’s what they said...

Biggest challenges for 2012?

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0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00%

What keeps legal counsel awake at night?

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Legal and risk issues Budgets and profitability Workload and team issues

What keeps legal counsel awake at night?

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Balancing competing demands from the businesses Managing risk across the business Lack of document trail and correct documentation when legal documents are handled by business teams Ineffective regulation Being seen by the business as a hurdle or a blocker, as

• pposed to a valuable

contributor. Delivering large change agenda arising from Legal Blueprint without impacting business as usual delivery Keeping on top of changes to the law regarding my business Litigation

Legal and risk issues

What keeps legal counsel awake at night?

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Volume of work In-house resources and difficulty in recruiting staff Loss of knowledge of key events when individuals leave the business Insufficient staff and budget for external resources to meet company demand for legal support. Getting all necessary work done to a high standard in the available time Managing increasing volume of unreasonable demands of the board Competitor Poaching Maintaining team moral under work pressures

Workload and team

What keeps legal counsel awake at night?

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Controlling legal spend Factors required to drive growth Budgets Profitability Cost control Difficulty in persuading the business to spend money on external lawyers when I consider it necessary

Budgets and profitability

And for the lucky few...

t www.dlapiperwin.com Approximately 10% of respondents said that nothing keeps them awake at night.

Your opinion of the hourly rate

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If I had more hours in the day, my top work related priority would be...

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0% 5% 10% 15% 20% 25% 30% 35% 40% Increase knowledge of the business Spend more time training the legal team Spend more time training the commercial teams Develop better toolkits and internal materials Increase legal knowledge Take more time on current work Spend more time building relationships with other in- house counsel Spend more time networking with external counsel

Qualities you value most in your external advisors

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Cost effective services (66%) Depth of business & sector knowledge (63%) Technical excellence (60%)

What annoys you most when working with external counsel

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0% 5% 10% 15% 20% 25% 30% 35%

Do you feel valued by the Board / Senior Management?

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What would improve your standing with the Board / Senior Management

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WIN: WHAT IN-HOUSE LAWYERS NEED What's next for WIN?

WIN: What in-house lawyers need Knowledge, support and networking for the in-house lawyer community

What in-house lawyers want...

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• 1. Chance to hear practical advice/experience

under Chatham House rules

• 2. Training on legal topics
• 4. Opportunity to network

with other in-house counsel

• 3. Availability of knowhow

and value add materials

About WIN

The three main pillars of WIN are to provide:

• Knowledge: deliver information that is targeted,

relevant and covers key business issues as well as legal topics

• Support: listen to our clients to identify the key legal

and commercial issues they face and tailor our services accordingly

• Networking: create an opportunity to share practical

experience with other in-house lawyers

WIN: What In-House Lawyers Need

Win Wise Networking events Interactive Website Advisory Group

WIN Website

Register at www.dlapiperwin.com

• Tailored information
• Personal library
• Best practice guides
• Discussion forum
• Events and training

What's next for WIN?

• Client Advisory Group
• Client advisory sessions and events where we listen to what

you want from WIN

• WIN Wise
• Practical briefings on key topics effecting your role
• Events
• In-house Counsel Day
• Junior Counsel Events: “From Junior Counsel to General

Counsel"

Thank you

WIN: What in-house lawyers need Knowledge, support and networking for the in-house lawyer community