Ensuring corporate governance and regulatory compliance especially when the business is growing and has operations globally, can be tedious. Not only do you need to adhere to laws, policies and regulations across different nations and jurisdictions, you must also deal with diverse corporate forms. This can make legal entity management a major challenge for legal departments, especially for those with limited resources. With the pressure to do more with less, it is upon general counsel to find innovative, low cost methods to better manage entities. Here are 4 ways legal departments can facilitate collaboration across the business, improve communication and dialogue among stakeholders, and be more effective in entity management.
As the business keeps growing beyond borders (and different jurisdictions!), gaining clear visibility into the corporate structure is essential. Here is a list of 4 tips for all-sized legal departments, to better manage their corporate records to ensure governance and compliance while mitigating risks- to demonstrate value across the organisation they serve.
Inefficient contract management can take its toll on overburdened legal departments. But it’s not only a matter of wasted time. Poor contract management can also cost your business dearly. According to the International Association for Contract and Commercial Management (IACCM), inefficient contract management can cost businesses as much as 9% of annual revenue. In fact, inefficient processes can result in financial losses […]
Could you benefit from a better understanding of Legal Project Management? Legal project management is no easy task. Not only does it require meticulous budget and cost controlling, but project managers also need to be able to mitigate risks that could cause the project to fail – be it a contract, merger or acquisition, or a case. Project management is the application of generally recognized knowledge, skills, tools, and techniques to meet project requirements and achieve project objectives. Whether projects are managed in-house or shared with outside counsel, a basic understanding of legal project management can help you manage project risk, especially when the stakes are high! […]
According to a recent ACC survey, 70% of CLOs rate protection of corporate data and managing data breaches as an extremely or very important issue to address over the next 12 months. What’s more, 27% had experienced a data breach at their organisations within the past two years, up from 23% in the previous year’s survey. Of course, with an increased likelihood of data breaches comes an increased workload and need for budgets and resources, which is not always easy to obtain. It’s no wonder nearly 50% of general counsel say planning for cybersecurity incidents and responding to breaches is now a part of their job.