Corporate Legal Counsels Seek Enhanced Collaboration with External Business Partners
At the Argyle Chief Legal Officer Forum, a gathering of 200 global corporate counsels met to discuss the challenges facing legal departments. Intralinks was a key sponsor of the event that including a panel introduction, sales introductions to targeted CLOs and a presentation table.
15 June 2010
At the Argyle Chief Legal Officer Forum, a gathering of 200 global corporate counsels met to discuss the challenges facing legal departments. Intralinks was a key sponsor of the event that including a panel introduction, sales introductions to targeted CLOs and a presentation table. Intralinks also previewed a new enterprise offering that integrates secure legal document repositories, project management workflows and internal/external collaboration. In addition, we were able to interview keynote speaker Tom Sabatino, former General Counsel of Schering Plough (now General Counsel of United Airlines).
The conference featured many sessions focusing on ways that corporate counsel can do more with less in their “new normal” economic environment. Speakers discussed in-sourcing legal projects, developing contract pricing for repetitive activity (versus billable hours), and gaining greater control over information flows. With shrinking budgets and staff, legal outsourcing will continue, but must be done without effecting risk and security.
Tom Sabatino delivered a keynote speech on the need for tighter integration between corporate legal teams and their law firms. In our interview with Tom, he further emphasized that collaboration is the foundation for effective management of legal departments, and that technology like Intralinks can significantly enhance this process. See Tom's insight here.
Being a staff department, corporate counsels often have few technology resources to manage internal projects and efficiently coordinate legal matters outsourced to law firms and other providers, including the growing use of offshore Legal Process Outsourcing (LPO) firms. In fact, several attendees said they face these very challenges in managing large volumes of documents that are dispersed in both format and location. Having a document repository that is searchable for templates, past reference as well as like cases would add tremendous efficiency to the corporate counsel team, especially in areas like contract management and regulatory filings.
Overall, the Argyle conference underlined the need for more efficient and secure collaboration between corporate counsel and their external professional partners. We’ll keep you informed as our offering for corporate counsel and legal services develops in the coming months.