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Redefining Attorney-Client Collaboration with Technology That Delivers Greater Value
The relationship between in-house corporate counsel and outside law firm counsel is undergoing significant changes in today's environment. When companies were faced with lawsuits and investigations in the past, they relied on law firms to manage many aspects of their cases. In-house counsel had their own jobs to do and law firm attorneys possessed the knowledge and expertise to focus on discovery, trial preparation and litigation. In-house counsel worked closely with their law firm counterparts throughout the matter, but for the most part corporate attorneys allowed outside counsel to take the lead on the management of individual matters and paid the bills that were submitted. While legal departments may have grumbled over fees, they often accepted the billable hours and trusted the processes of outside counsel.
This "norm" is changing, even as in-house counsel still regularly seek assistance from law firm counsel. Today's in-house counsel are looking at billable hours more carefully and taking more control of their own data. At the same time, they are seeking more collaborative relationships with their law firm attorneys. The new focus on collaboration is based on several factors, including increased pressure on in-house legal departments to manage costs and higher performance expectations. According to the 2021 Association of Corporate Counsel Chief Legal Officers Survey, delivering value and maximizing profits were the top two priorities of CLOs for the next five years.
The evolution of legal technology and processes has dramatically altered the landscape. Thanks to today's powerful tools incorporating advanced technologies like data analytics and artificial intelligence, in-house counsel and their law firm partners can save time, achieve better outcomes, minimize risk, and increase collaboration, all while requiring fewer billable hours.
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