{"id":1112,"date":"2023-03-20T04:37:29","date_gmt":"2023-03-20T04:37:29","guid":{"rendered":"https:\/\/insight.thomsonreuters.com\/sea\/legal\/resources\/resource\/2023-state-of-corporate-legal-department-report"},"modified":"2024-03-05T08:39:05","modified_gmt":"2024-03-05T08:39:05","slug":"2023-state-of-corporate-legal-department-report","status":"publish","type":"insight_resource","link":"https:\/\/insight.thomsonreuters.com\/sea\/legal\/resources\/resource\/2023-state-of-corporate-legal-department-report","title":{"rendered":"State of the Corporate Law Department: 2023 Report"},"content":{"rendered":"\n<h4 class=\"wp-block-heading\">The last few years have been eventful and transformative to in-house legal departments as much as to the businesses they advise. In the new <em>2023 State of the Corporate Law Department<\/em> report, Thomson Reuters Institute found that priorities and concerns continue to shift.  <\/h4>\n\n\n\n<p>The report is compiled from interviews with more than 1500 professionals from corporate law departments of companies with more than $1 billion in global revenue.  <\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Key findings:<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Compliance and changing global regulatory burdens are now the top priority for a majority of legal departments.<\/li>\n\n\n\n<li>Risk management is becoming a key component of overall cost control.<\/li>\n\n\n\n<li>Most departments expect to increase the budget in 2023 rather than reduce it.<\/li>\n\n\n\n<li>Departments are increasingly quick to move work to ALSPs (alternative legal services providers) and outside vendors to manage cost increases and deliver cost-effectiveness.<\/li>\n\n\n\n<li>Most departments have shifted decisively to a hybrid work model.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">How can this report help your legal department?<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Evaluate your legal spend and benchmark vs other businesses.<\/li>\n\n\n\n<li>Optimise your department&#8217;s workflow and outputs.<\/li>\n\n\n\n<li>Inspire you to innovate and change through peer insights.<\/li>\n<\/ul>\n\n\n\n<p>Get your complimentary copy of the <em>2023 State of the Corporate Law Department<\/em> report by completing your details on this page.<\/p>\n\n\n\n<p>For more related insights, read the <a href=\"https:\/\/insight.thomsonreuters.com.au\/legal\/resources\/resource\/2022_legal_department_operations_index_report\">2022 Legal Department Operations Index<\/a> special report, or learn about the growing market of <a href=\"https:\/\/insight.thomsonreuters.com\/sea\/legal\/resources\/resource\/market-for-alternative-legal-services-growing-dramatically-global-report-shows\">alternative legal services (ALSPs)<\/a>.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong>How Thomson Reuters Southeast Asia can help<\/strong><\/p>\n\n\n\n<p>Elevate your legal practice with Thomson Reuters Southeast Asia\u2019s premier suite of solutions. Dive into our innovative tools like <a href=\"https:\/\/www.thomsonreuters.com.sg\/en-sg\/products\/highq.html?cid=LegalInsights&amp;chl=aff\" rel=\"noreferrer noopener\" target=\"_blank\">HighQ<\/a>, <a href=\"https:\/\/www.thomsonreuters.com.sg\/en-sg\/products\/practical-law.html?cid=LegalInsights&amp;chl=aff\" rel=\"noreferrer noopener\" target=\"_blank\">Practical Law<\/a>, <a href=\"https:\/\/www.thomsonreuters.com.sg\/en-sg\/products\/legal-tracker.html?cid=LegalInsights&amp;chl=aff\" rel=\"noreferrer noopener\" target=\"_blank\">Legal Tracker<\/a>, and <a href=\"https:\/\/www.thomsonreuters.com.sg\/en-sg\/products\/westlaw.html?cid=LegalInsights&amp;chl=aff\" rel=\"noreferrer noopener\" target=\"_blank\">Westlaw<\/a> to streamline your operations and gain critical insights. Plus, get ready for our upcoming AI-enabled tools designed to revolutionize legal departments with smarter, faster decision-making capabilities.<\/p>\n\n\n\n<p>Ready to transform your legal strategy? Request a <a href=\"https:\/\/www.thomsonreuters.com.sg\/en-sg\/products.html\" rel=\"noreferrer noopener\" target=\"_blank\">free demo or trial<\/a>, connect with us on <a href=\"https:\/\/www.linkedin.com\/company\/thomson-reuters-southeastasia\" rel=\"noreferrer noopener\" target=\"_blank\">LinkedIn<\/a>, and subscribe to our<a href=\"https:\/\/www.thomsonreuters.com.sg\/en\/products-services\/legal-overview\/subscribe-now.html\" rel=\"noreferrer noopener\" target=\"_blank\"> Newsletter<\/a> for the latest in legal innovation.&nbsp;<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 2023 State of the Corporate Law Department Thomson Reuters report reveals insights from over 1500 global in-house leaders on priorities, legal spend, strategic plans and more.<\/p>\n","protected":false},"author":152,"featured_media":1114,"template":"","categories":[573,923,617,625,629,665],"tags":[251,272,350],"resource_type":[594],"insight_job_role":[595,598,842,607],"insight_practice_area":[],"class_list":["entry","author-legalexecutiveinstitute1","has-excerpt","post-1112","insight_resource","type-insight_resource","status-publish","has-post-thumbnail","category-benchmarking","category-legal-marketplace","category-practice-management","category-research-and-know-how","category-strategy-and-business-development","category-trends-and-the-future-of-law","tag-general-counsel","tag-in-house-legal-departments","tag-legal-research","resource_type-full-report","insight_job_role-general-counsel","insight_job_role-in-house-lawyer","insight_job_role-lawyer","insight_job_role-legal-operations-manager","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - 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