Legal Operations
Legal Operations is a new field to which in-house legal counsels have recently given higher priority The purpose of legal operations is to provide better quality legal services for less money. Legal operations helps increase efficiency by implementing these measures:
Not using in-house lawyers for the actual routine business of the department. Lawyers will not spend time processing bills or adopting new technology. Any work for which a J.D. is not required will be performed by staff.
Putting the focus of the department on financial efficiency.
Having a legal operations specialist work as a chief of staff for the general counsel.
Controlling the procurement of legal services.
Analyzing data to help find ways to help make the legal affairs of a business more profitable.
Developing an overall strategy with goals guided by key performance indicators (KPIs).
Handling contract management and records management.
Supervising regulatory compliance.
The Corporate Legal Operations Consortium (CLOC) reported in a recent survey that Big Pharma and tech businesses are investing heavily in legal operations.
