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How In-House Counsel Can Maximize Competitive Advantage

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By William Vogeler, Esq. on April 22, 2019 3:00 PM

Full disclosure: Thomson Reuters is FindLaw's parent, and Above the Law is FindLaw Blogs' competition (er, sort of).

With that said, when the competition gives props to your company's product, well, it says something. Above the Law says a new report from Thomson Reuters provides "an invaluable source of information and insight for corporate law departments."

It's like LeBron James saying Steph Curry is the best basketball player in the 2019 NBA playoffs. Oh wait, LeBron is not in the playoffs.

The Corporate Report

Above the Law says TR's "State of Corporate Law Departments 2019" enables legal departments to "maximize their competitive advantage" and safeguard against unnecessary risk. It is sponsored content, but still. Above the Law is known more for its critical commentary than its compliments.

Gregg Wirth, content manager for TR's Legal Executive Institute, said the company published the report with the International Bar Association, the Corporate Legal Operations Consortium and Acritas, a legal research firm. He said it uncovers the trends that are driving corporate law departments today.

"The report comes to the inescapable conclusion that in order to maximize the value of the legal services delivered, corporate law departments need to not only pay attention to reducing the cost of those services, but also improve the value and impact that those legal services have on the organization," he wrote.

In that way, it is a retrospective about how corporate lawyers can improve how they work together. It answers a question with a statement: How to become a more effective in-house team.

The In-House Team

The report identifies key points for in-house legal to create higher functions and build innovation through modern technology. Ultimately, it's about showing the value of the legal department. The complimentary report is here.

Like the Golden State Warriors have shown, it's all about team work. LeBron, who plays for the Los Angeles Lakers, may be the best basketball player in the world. But the Warriors are the world champs.

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