For years, GCs have been pushing their outside counsel for discounts and alternative billing structures. But the legal operating model, and the approach to legal budgeting, have remained largely the same.
The certain uncertainty of economic volatility demands a renewed scrutiny of traditional legal budgeting practices. In this whitepaper, our friends at Axiom examine how forward-looking GCs can rethink their legal budgets to better address the new normal and increase spend efficiency.
The paper discusses:
- Why approaching the budget with typical incremental changes based on precedent may no longer make sense
- How different approaches to budgeting may be better suited to the legal department, and can enable alignment, cost reduction, and improved communication with business partners
- Why reexamining legal workstreams and breaking them down into discrete matters is the critical first step toward rethinking legal spend, and how doing so can help transform an inefficient legal operating model
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