Four Tips for Tapping Data and Tech to Make the Case for Legal Budgets in 2021
In-house lawyers have been busier than ever, but some are struggling to articulate the change in legal activities to the CFO. These suggestions will help shore up the resources legal needs to navigate the risks of 2021.
December 10, 2020 at 07:00 AM
6 minute read
It's budget season, and many GCs recognize next year's legal budget may not be the same. A survey of law departments recently found about three-quarters of respondents expect budgets to remain flat or decline for 2021.
That notion has also been reflected in the conversations I've had with legal leaders around the world. Revenues have fallen and profits are being squeezed even as organizations strived to adjust during this tumultuous year.
For example, one GC who works for a global technology manufacturer told me there just hasn't been the usual level of legal work this year. On paper, it looks like the in-house legal team hasn't had the same volume of work as in prior years—so a budget reduction is justified.
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