The Association of Corporate Counsel (ACC) has announced its 2012 Value Champions. That is, companies and law firms who have implemented innovative ways to increase their efficiency and reduce costs.

Similar to, but not affiliated with, the InsideCounsel 10 (nominations for 2012 are still open until Friday, June 29), the Value Challenge honors companies (and law firms) that demonstrate a commitment to improving efficiency and cutting costs. The association's Value Champions include some past IC10 winners. Pfizer is on the list for its Pfizer Legal Alliance, for which it won an IC10 award in 2011. Medtronic also made the ACC's list. The medical technology company won an IC10 award in 2009 for its digital dashboard.

Other ACC Value Champions include companies GlaxoSmithKline, The Home Depot and Lucchini S.P.A. The association also gave joint awards to companies and law firms, which included RBC Capital Markets and Morgan Lewis, Rockwell Collins & Seyfarth Shaw, Sherwin Williams and Gallagher Sharp, Target and Nilan Johnson Lewis, Tyco International and Shook Hardy, United Retirement and Porter Wright, and Whirlpool and Wheeler Trigg.

“By demonstrating creative lawyering and good old fashioned business sense, these ACC Value Champions not only controlled legal spend, but they also improved legal outcomes for their clients,” ACC President and CEO Veta T. Richardson said in a statement.

Congrats to these ACC Value Champions.

Interested in being recognized for your innovative solutions to tough legal department challenges? Nominate your legal department for the 2012 IC10. But hurry! The deadline for entry is Friday!