{"id":1536,"date":"2024-03-26T13:36:19","date_gmt":"2024-03-26T02:36:19","guid":{"rendered":"https:\/\/insight.thomsonreuters.com\/sea\/legal\/resources\/resource\/2024-state-of-the-corporate-law-department-report"},"modified":"2025-03-20T15:29:35","modified_gmt":"2025-03-20T15:29:35","slug":"2024-state-of-in-house-legal-department-report","status":"publish","type":"insight_resource","link":"https:\/\/insight.thomsonreuters.com\/sea\/legal\/resources\/resource\/2024-state-of-in-house-legal-department-report","title":{"rendered":"2024 State of the In-house Legal Department Report"},"content":{"rendered":"\n<p>The priorities of legal departments are always driven by the needs and plans of their underlying businesses. In the new\u00a0<strong>2024 State of the In-house Legal Department<\/strong>\u00a0report, the Thomson Reuters Institute found that both business and legal priorities continue to change rapidly for those organizations, including some notable gaps between the legal department and C-Suite perceptions of risks and opportunities.<\/p>\n\n\n\n<p>Informed by interviews with over&nbsp;<strong>4,500 professionals worldwide<\/strong>, including legal leaders, C-Suite executives, and compliance professionals, the report found:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>GCs largely believe that <strong>GenAI<\/strong> will be transformative to legal work<\/li>\n\n\n\n<li>Departments are chasing efficiency gains by <strong>moving work both in-house<\/strong> and to different firms<\/li>\n\n\n\n<li><strong>External counsel spend <\/strong>is generally expected to increase<\/li>\n\n\n\n<li><strong>Data privacy, cybersecurity, and ESG<\/strong> <strong>concern<\/strong>s top the list of potential future risks&nbsp;<\/li>\n\n\n\n<li>Legal department leaders see their priorities substantially differently than executive leadership does, allowing GCs to redefine the perception of the department<\/li>\n<\/ul>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/03\/admin-ajax-2.png\" alt=\"\" class=\"wp-image-10438\" style=\"width:234px;height:auto\"\/><\/figure>\n<\/div>\n\n\n<p><strong>Download Your Complimentary Copy of the&nbsp;2024 State of the Corporate Law Department Report<\/strong><\/p>\n\n\n\n<p>Complete the form on this page to download the report. <\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Discover Cutting-Edge Strategies<\/strong>: Learn how global departments are balancing the major pillars of corporate legal work: effectiveness, cost efficiency, business enablement, and risk management<\/li>\n\n\n\n<li><strong>Gain Evidence-Based Advice<\/strong>: Equip yourself with actionable, evidence-led recommendations to optimize your legal department\u2019s performance and outputs.<\/li>\n\n\n\n<li><strong>Be Inspired by Your Peers:<\/strong> Benefit from peer insights curated from leading corporate legal departments and their executive leaders to inspire innovation and transformational change in your own team.<\/li>\n<\/ul>\n\n\n\n<p>The article was originally published by the Thomson Reuters Institute and featured on Legal Insight with permission.<\/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","protected":false},"excerpt":{"rendered":"<p>Explore global insights and trends in corporate law departments with our 2024 State of Corporate Law Department Report. <\/p>\n","protected":false},"author":152,"featured_media":1539,"template":"","categories":[994,576,602,665],"tags":[954,251,1008,337,979,356],"resource_type":[594],"insight_job_role":[910,572,595,598,842,607,741,614,619,674,628],"insight_practice_area":[],"class_list":["entry","author-legalexecutiveinstitute1","has-excerpt","post-1536","insight_resource","type-insight_resource","status-publish","has-post-thumbnail","category-ai-regulation","category-business-management","category-innovation-and-technology","category-trends-and-the-future-of-law","tag-corporate-law-departments","tag-general-counsel","tag-in-house-legal-department","tag-legal-innovation","tag-legal-reports","tag-legal-technology","resource_type-full-report","insight_job_role-associate","insight_job_role-barrister","insight_job_role-general-counsel","insight_job_role-in-house-lawyer","insight_job_role-lawyer","insight_job_role-legal-operations-manager","insight_job_role-managing-partner","insight_job_role-partner","insight_job_role-practice-manager","insight_job_role-principal","insight_job_role-solicitor","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - 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