A new survey details how the pandemic changed the legal departments in 2020 as much of their workforce was shifted from “business as usual” to “crisis management”.
The Thomson Reuters Corporate Law 2021 report finds that the internal workload increased in 2020 and that “keeping the company safe” is paramount as more than 40% of legal departments implement new disputes prevention measures .
The implications for outside lawyers are complicated, however, as law firms have largely seen a decline in sales despite a drop in demand:
Corporate law departments’ demand for outside advice in law firms decreased 2.5% in 2020 as many cases and deals stalled. However, the rate increases introduced by law firms at the beginning of the year and the shift to the use of contacts at senior partner level for crisis support meant that the revenues of most law firms increased overall in 2020.
Download the full report below.
2021 corporate law departments [Thomson Reuters]
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