{"id":10432,"date":"2024-03-26T13:36:19","date_gmt":"2024-03-26T02:36:19","guid":{"rendered":"https:\/\/insight.thomsonreuters.com.au\/legal\/?post_type=insight_resource&#038;p=10432"},"modified":"2024-03-26T20:43:30","modified_gmt":"2024-03-26T09:43:30","slug":"2024-state-of-the-corporate-law-department-report","status":"publish","type":"insight_resource","link":"https:\/\/insight.thomsonreuters.com.au\/legal\/resources\/resource\/2024-state-of-the-corporate-law-department-report","title":{"rendered":"2024 State of the Corporate Law Department: Report"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Mapping a path to strategic leadership<\/h3>\n\n\n\n<p>Priorities of legal departments are always driven by the needs and plans of their underlying businesses. In the new&nbsp;<strong>2024 State of the Corporate Law Department<\/strong>&nbsp;report, the Thomson Reuters Institute found that both business and legal priorities continue to change rapidly for those organizations, including some notable gaps between law department and C-Suite perceptions of risks and opportunities.<\/p>\n\n\n\n<p>Informed by interviews with over&nbsp;<strong>4,500 professionals worldwide<\/strong>, including legal leaders, C-Suite executives, and compliance professionals, the report found:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>GCs largely believe that GenAI will be transformative to legal work<\/li>\n\n\n\n<li>Departments are chasing efficiency gains by moving work both in-house and to different firms<\/li>\n\n\n\n<li>Outside counsel spend is generally expected to increase<\/li>\n\n\n\n<li>Data privacy, cybersecurity, and ESG concerns top the list of potential future risks&nbsp;<\/li>\n\n\n\n<li>Law department leaders see their priorities substantially differently than executive leadership does, giving GCs an opportunity to redefine the perception of the department<\/li>\n<\/ul>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"463\" height=\"600\" src=\"https:\/\/insight.thomsonreuters.com.au\/legal\/wp-content\/uploads\/sites\/8\/2024\/03\/admin-ajax-2.png\" alt=\"\" class=\"wp-image-10438\" style=\"width:234px;height:auto\" srcset=\"https:\/\/insight.thomsonreuters.com.au\/legal\/wp-content\/uploads\/sites\/8\/2024\/03\/admin-ajax-2.png 463w, https:\/\/insight.thomsonreuters.com.au\/legal\/wp-content\/uploads\/sites\/8\/2024\/03\/admin-ajax-2-232x300.png 232w\" sizes=\"auto, (max-width: 463px) 100vw, 463px\" \/><\/figure>\n<\/div>\n\n\n<p>Get your complimentary copy of the&nbsp;<strong>2024 State of the Corporate Law Department<\/strong>&nbsp;report to receive:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Key insights on how global departments are balancing the major pillars of corporate legal work: effectiveness, cost efficiency, business enablement, and risk management<\/li>\n\n\n\n<li>Evidence-led advice on how to optimize your department and its outputs<\/li>\n\n\n\n<li>Peer insights collated from other corporate legal departments and their executive leaders across the world to inspire innovation and transformational change.<\/li>\n<\/ul>\n\n\n\n<p>Download your complimentary copy of the 2024 State of Corporate Law Department by completing the form on this page. <\/p>\n\n\n\n<p>The article was originally published on the <a href=\"https:\/\/www.thomsonreuters.com\/en-us\/posts\/legal\/state-of-the-corporate-law-department-2024\">Thomson Reuters institute<\/a>, and features on Legal Insight with permission.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Explore global insights and trends in corporate law departments with our 2024 State of Corporate Law Department Report. This comprehensive resource offers valuable perspectives for legal professionals in ANZ<\/p>\n","protected":false},"author":152,"featured_media":10433,"template":"","categories":[1961,576,602,634],"tags":[1705,251,1976,337,1736,356],"resource_type":[594],"insight_job_role":[1890,1315,595,598,1573,607,1457,614,619,1363,628],"insight_practice_area":[],"class_list":["entry","author-legalexecutiveinstitute1","has-excerpt","post-10432","insight_resource","type-insight_resource","status-publish","has-post-thumbnail","category-ai-regulation","category-business-management","category-innovation-and-technology","category-trends-and-the-future-of-law","tag-corporate-law-departments","tag-general-counsel","tag-in-house-legal-department","tag-legal-innovation","tag-legal-reports","tag-legal-technology","resource_type-full-report","insight_job_role-associate","insight_job_role-barrister","insight_job_role-general-counsel","insight_job_role-in-house-lawyer","insight_job_role-lawyer","insight_job_role-legal-operations-manager","insight_job_role-managing-partner","insight_job_role-partner","insight_job_role-practice-manager","insight_job_role-principal","insight_job_role-solicitor","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>2024 State of the Corporate Law Department: Report<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insight.thomsonreuters.com.au\/legal\/resources\/resource\/2024-state-of-the-corporate-law-department-report\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"2024 State of the Corporate Law Department: Report\" \/>\n<meta property=\"og:description\" content=\"Explore global insights and trends in corporate law departments with our 2024 State of Corporate Law Department Report. This comprehensive resource offers valuable perspectives for legal professionals in ANZ\" \/>\n<meta property=\"og:url\" content=\"https:\/\/insight.thomsonreuters.com.au\/legal\/resources\/resource\/2024-state-of-the-corporate-law-department-report\" \/>\n<meta property=\"og:site_name\" content=\"TR - Legal Insight Australia\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-26T09:43:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/insight.thomsonreuters.com.au\/legal\/wp-content\/uploads\/sites\/8\/2024\/03\/admin-ajax-e1711420005873.png\" \/>\n\t<meta property=\"og:image:width\" content=\"463\" \/>\n\t<meta property=\"og:image:height\" content=\"338\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/insight.thomsonreuters.com.au\/legal\/resources\/resource\/2024-state-of-the-corporate-law-department-report\",\"url\":\"https:\/\/insight.thomsonreuters.com.au\/legal\/resources\/resource\/2024-state-of-the-corporate-law-department-report\",\"name\":\"2024 State of the Corporate Law Department: Report\",\"isPartOf\":{\"@id\":\"https:\/\/insight.thomsonreuters.com.au\/legal\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/insight.thomsonreuters.com.au\/legal\/resources\/resource\/2024-state-of-the-corporate-law-department-report#primaryimage\"},\"image\":{\"@id\":\"https:\/\/insight.thomsonreuters.com.au\/legal\/resources\/resource\/2024-state-of-the-corporate-law-department-report#primaryimage\"},\"thumbnailUrl\":\"https:\/\/insight.thomsonreuters.com.au\/legal\/wp-content\/uploads\/sites\/8\/2024\/03\/admin-ajax-e1711420005873.png\",\"datePublished\":\"2024-03-26T02:36:19+00:00\",\"dateModified\":\"2024-03-26T09:43:30+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/insight.thomsonreuters.com.au\/legal\/resources\/resource\/2024-state-of-the-corporate-law-department-report#breadcrumb\"},\"inLanguage\":\"en-AU\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/insight.thomsonreuters.com.au\/legal\/resources\/resource\/2024-state-of-the-corporate-law-department-report\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-AU\",\"@id\":\"https:\/\/insight.thomsonreuters.com.au\/legal\/resources\/resource\/2024-state-of-the-corporate-law-department-report#primaryimage\",\"url\":\"https:\/\/insight.thomsonreuters.com.au\/legal\/wp-content\/uploads\/sites\/8\/2024\/03\/admin-ajax-e1711420005873.png\",\"contentUrl\":\"https:\/\/insight.thomsonreuters.com.au\/legal\/wp-content\/uploads\/sites\/8\/2024\/03\/admin-ajax-e1711420005873.png\",\"width\":463,\"height\":338,\"caption\":\"State of the corporate law department\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/insight.thomsonreuters.com.au\/legal\/resources\/resource\/2024-state-of-the-corporate-law-department-report#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/insight.thomsonreuters.com.au\/legal\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Resources\",\"item\":\"https:\/\/insight.thomsonreuters.com.au\/legal\/resources\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"2024 State of the Corporate Law Department: Report\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/insight.thomsonreuters.com.au\/legal\/#website\",\"url\":\"https:\/\/insight.thomsonreuters.com.au\/legal\/\",\"name\":\"TR - Legal Insight Australia\",\"description\":\"Just another Legal Hub site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/insight.thomsonreuters.com.au\/legal\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-AU\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"2024 State of the Corporate Law Department: Report","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/insight.thomsonreuters.com.au\/legal\/resources\/resource\/2024-state-of-the-corporate-law-department-report","og_locale":"en_US","og_type":"article","og_title":"2024 State of the Corporate Law Department: Report","og_description":"Explore global insights and trends in corporate law departments with our 2024 State of Corporate Law Department Report. This comprehensive resource offers valuable perspectives for legal professionals in ANZ","og_url":"https:\/\/insight.thomsonreuters.com.au\/legal\/resources\/resource\/2024-state-of-the-corporate-law-department-report","og_site_name":"TR - Legal Insight Australia","article_modified_time":"2024-03-26T09:43:30+00:00","og_image":[{"width":463,"height":338,"url":"https:\/\/insight.thomsonreuters.com.au\/legal\/wp-content\/uploads\/sites\/8\/2024\/03\/admin-ajax-e1711420005873.png","type":"image\/png"}],"twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/insight.thomsonreuters.com.au\/legal\/resources\/resource\/2024-state-of-the-corporate-law-department-report","url":"https:\/\/insight.thomsonreuters.com.au\/legal\/resources\/resource\/2024-state-of-the-corporate-law-department-report","name":"2024 State of the Corporate Law Department: Report","isPartOf":{"@id":"https:\/\/insight.thomsonreuters.com.au\/legal\/#website"},"primaryImageOfPage":{"@id":"https:\/\/insight.thomsonreuters.com.au\/legal\/resources\/resource\/2024-state-of-the-corporate-law-department-report#primaryimage"},"image":{"@id":"https:\/\/insight.thomsonreuters.com.au\/legal\/resources\/resource\/2024-state-of-the-corporate-law-department-report#primaryimage"},"thumbnailUrl":"https:\/\/insight.thomsonreuters.com.au\/legal\/wp-content\/uploads\/sites\/8\/2024\/03\/admin-ajax-e1711420005873.png","datePublished":"2024-03-26T02:36:19+00:00","dateModified":"2024-03-26T09:43:30+00:00","breadcrumb":{"@id":"https:\/\/insight.thomsonreuters.com.au\/legal\/resources\/resource\/2024-state-of-the-corporate-law-department-report#breadcrumb"},"inLanguage":"en-AU","potentialAction":[{"@type":"ReadAction","target":["https:\/\/insight.thomsonreuters.com.au\/legal\/resources\/resource\/2024-state-of-the-corporate-law-department-report"]}]},{"@type":"ImageObject","inLanguage":"en-AU","@id":"https:\/\/insight.thomsonreuters.com.au\/legal\/resources\/resource\/2024-state-of-the-corporate-law-department-report#primaryimage","url":"https:\/\/insight.thomsonreuters.com.au\/legal\/wp-content\/uploads\/sites\/8\/2024\/03\/admin-ajax-e1711420005873.png","contentUrl":"https:\/\/insight.thomsonreuters.com.au\/legal\/wp-content\/uploads\/sites\/8\/2024\/03\/admin-ajax-e1711420005873.png","width":463,"height":338,"caption":"State of the corporate law department"},{"@type":"BreadcrumbList","@id":"https:\/\/insight.thomsonreuters.com.au\/legal\/resources\/resource\/2024-state-of-the-corporate-law-department-report#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/insight.thomsonreuters.com.au\/legal\/"},{"@type":"ListItem","position":2,"name":"Resources","item":"https:\/\/insight.thomsonreuters.com.au\/legal\/resources"},{"@type":"ListItem","position":3,"name":"2024 State of the Corporate Law Department: Report"}]},{"@type":"WebSite","@id":"https:\/\/insight.thomsonreuters.com.au\/legal\/#website","url":"https:\/\/insight.thomsonreuters.com.au\/legal\/","name":"TR - Legal Insight Australia","description":"Just another Legal Hub site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/insight.thomsonreuters.com.au\/legal\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-AU"}]}},"_links":{"self":[{"href":"https:\/\/insight.thomsonreuters.com.au\/legal\/wp-json\/wp\/v2\/insight_resource\/10432","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/insight.thomsonreuters.com.au\/legal\/wp-json\/wp\/v2\/insight_resource"}],"about":[{"href":"https:\/\/insight.thomsonreuters.com.au\/legal\/wp-json\/wp\/v2\/types\/insight_resource"}],"author":[{"embeddable":true,"href":"https:\/\/insight.thomsonreuters.com.au\/legal\/wp-json\/wp\/v2\/users\/152"}],"version-history":[{"count":0,"href":"https:\/\/insight.thomsonreuters.com.au\/legal\/wp-json\/wp\/v2\/insight_resource\/10432\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/insight.thomsonreuters.com.au\/legal\/wp-json\/wp\/v2\/media\/10433"}],"wp:attachment":[{"href":"https:\/\/insight.thomsonreuters.com.au\/legal\/wp-json\/wp\/v2\/media?parent=10432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/insight.thomsonreuters.com.au\/legal\/wp-json\/wp\/v2\/categories?post=10432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/insight.thomsonreuters.com.au\/legal\/wp-json\/wp\/v2\/tags?post=10432"},{"taxonomy":"resource_type","embeddable":true,"href":"https:\/\/insight.thomsonreuters.com.au\/legal\/wp-json\/wp\/v2\/resource_type?post=10432"},{"taxonomy":"insight_job_role","embeddable":true,"href":"https:\/\/insight.thomsonreuters.com.au\/legal\/wp-json\/wp\/v2\/insight_job_role?post=10432"},{"taxonomy":"insight_practice_area","embeddable":true,"href":"https:\/\/insight.thomsonreuters.com.au\/legal\/wp-json\/wp\/v2\/insight_practice_area?post=10432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}