Solving General Counsel Challenges

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As workloads grow at a rapid rate and risk management increases in complexity, businesses are asking more from their legal departments. Today’s in-house counsel must be effective generalists for a wide variety of legal topics that arise in day-to-day corporate practice, all falling under the leadership of the general counsel (GC). However, as corporate legal departments trend toward insourcing more work and headcount remains relatively flat, CEOs are looking to GCs to transform their department into strategic business partners and valued members of the leadership team.

Gone are the days when in-house counsel are seen simply as legal risk managers and providers of legal services. Today, GCs are expected to provide fast, accurate, and on-point guidance to C-suite executives and the board of directors, and work with stakeholders across the business as an ally in advancing the business and enhancing the reputation of the organization. See how Bloomberg Law can help.

Solving general counsel challenges

As a GC, you must wear many hats, from a legal advisor to a business strategist to a risk management expert — not to mention managing your department and outside counsel relationships. With so many responsibilities covering a vast range of expertise, the role of GC has expanded, and so has their workload. This is especially true as they become more ingrained with their business and look to shift more work internally to reduce spend on outside counsel. As workloads increase, GCs are left with little time to act as strategic business partners and a valued member of the leadership team.

“Bloomberg Law increases our internal intelligence and knowledge, making in-house experts across a broad array of legal areas. It’s allowed to us to handle more matters in-house, saving us up to 20% on annual outside counsel spend.”

General Counsel, Waste Management Company

“Bloomberg Law allows us to do much of the work in-house. It gives our department the confidence that we have the correct information. It provides quick answers that save us from having to call outside counsel. As a result, we were able to decrease our annual outside counsel spend by more than 15%.”

Deputy General Counsel, Residential Building Construction Company

“By redirecting research and workflows to in-house counsel we are able to circumvent outside counsel costs for the same work. And making it automated reduced our own in-house time spent researching. As a result, Bloomberg Law has helped us decrease our annual spend on outside counsel by nearly 20%.”

AVP, Legal Operations, Financial Services Firm

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