In today’s marketplace, corporate legal departments find themselves at the forefront of an evolutionary wave that has dramatically changed their role and their priorities in the legal industry.
Power has shifted to corporate legal departments over the past five years — due mostly to the stronger buying power these departments now enjoy. This power shift has pushed corporate legal departments to prioritize a strong drive toward innovation, data-backed strategies, and collaboration.
Legal departments, of course want to outperform in their core functions, like identifying and mitigating risk; but they also want to drive improved efficiency and effectiveness as a key part of their company.
In a new infographic — presented by Thomson Reuters as part of the just released “2018 Report on the State of Corporate Law Departments” — the evolution of the modern legal department is mapped out, showing this power shift and how legal departments are striving towards their top priorities.
Click on the image to enlarge:
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