When it comes to general counsel in these modern times, where, for example, paw-ternity leave is actual a thing, the expectations are changing.
For one, the legal industry has changed quite a bit over the last decade (or two) as the internet and email have become part of daily life for nearly everyone. And alongside those amazing time saving innovations, legal technology has flourished too. As such, for General Counsel in the modern era, there are two trends that might be worth embracing.
Don't Fear New Alternatives
With all the new legal tech available these days, GCs can really prove their worth by evaluating what new legal tech can save the company money while still performing as well. And it's not just the legal tech itself, new third party managed services providers have been popping up to help with in house matters like contract management.
It may be personally troubling to replace legal staff with software, but business often requires making difficult decisions. If new software or an AI program means you need half as many people to do the same workload, you'll have room in the budget for other areas, or you may have just cut costs.
The Data Says Avoid BigLaw
In addition to embracing legal tech, according to a Forbes report, big data analytics suggest that BigLaw firms are under-performing. And given the current trend away from BigLaw in the legal industry, its downturn in hiring, and with legal tech making much of what gave BigLaw a competitive advantage moot, GCs might want to turn to several boutique and small to mid-size firms to handle various projects rather than just shipping everything off to a one stop shop BigLaw firm.