Work traditionally performed by external law practices continues to shift in-house, and if legal solution providers want to protect their current revenues, they need to follow the money.
Outsell’s latest report, Follow the Money to Protect Revenue: Corporate Counsel Buyer Profile, paints a clear and detailed picture of corporate counsel professionals across the world, with a focus on their technology needs. New technologies, such as smart contracts and artificial intelligence are creating opportunities to support these professionals in new ways. Despite recent attention, this profession still has several pain points, presenting legal tech vendors with continued runway for growth.
Get our latest report for key recommendations for legal tech vendors, including the need for increased automation tools, leveraging smart contract technology, and developing better cross-border tools as well as insights into opportunities for legal solution providers that want to increase their revenues and market share.
To understand the needs of legal professionals, Outsell has reviewed numerous secondary studies, data, and research produced by bar associations, government bodies, non-profit organizations, market suppliers, and media publications. In reviewing these sources, Outsell has identified and collated the research that is most relevant to legal information and software providers that want to better understand their current and potential customers worldwide. Outsell has supplemented this with its own analysis and insights gained from interviewing industry executives.
This report draws on reliable and authoritative data from secondary resources,1 studies, and data sources from organizations around the world and focuses on specific research that is relevant to legal information and software providers. In particular, the report cites several findings from two Association of Corporate Counsel surveys, Chief Legal Officers 2017 Survey and The State of Cybersecurity Report 2017, which surveyed 1,800 in-house counsel in 53 countries and 1,100 in-house counsel in 42 countries respectively. The ACC is a global bar association and has unparalleled access to Corporate Counsel professionals, with more than 42,000 members employed by over 10,000 organizations in 85 countries.
Why This Topic?
Structure of Corporate Legal Departments
Legal & Regulatory Pressures
Data Protection and Cyber Security
Increased Regulatory Enforcement
Intellectual Property Lawsuits
Increased Global Protectionism
Demand for Technology
Automation of Legal Tasks
Shift in Corporate Counsel Role
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