Boom Time for In-House Budgets
Over the past two years, budgets for in-house legal departments have gone up by more than 20 percent -- and that is not counting the costs of litigation. This is the finding of the 2006 Census of In-House Counsel released last week by the Association of Corporate Counsel.
"The budget increases were seen among departments of all sizes, with smaller departments (six attorneys or fewer) showing an average budget increase of more than 30 percent. More modest increases were seen in litigation budgets, increasing by approximately 10 percent. One of the most notable budget increases existed within online resources, with departments of all sizes experiencing an average budget increase of 30 percent."
The survey found that in-house counsel's use of online products and services for compliance and department management soared.
"More than 40 percent of companies used online compliance training programs, with an additional 40 percent planning to do so in the next three years. Electronic document management systems are currently being used by 34 percent of companies, with an additional 24 percent planning to implement these systems in the next three years."
The survey collected responses from nearly 3,500 in-house counsel at some 2,700 companies. About a third of the respondents were chief legal officers. You can read the executive summary for free or purchase the full survey for $750.
Posted by Robert J. Ambrogi on March 26, 2007 at 06:36 PM | Permalink
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