David Newman spoke to Business Insider about how the role of in-house legal counsel will transform in 2021.
According to Morrison & Foerster’s third COVID-19 Impact Survey, nearly a third of in-house counsel expect their spending on outside counsel to decrease over the next six months. As a result, industry experts predict that in-house legal teams will be expected to take on more responsibility, and legal tech can help bolster their work. In fact, while in-house departments were historically seen as cost centers, that’s changed with the pandemic.
“The companies that have been the most successful in navigating the pandemic were those with in-house counsel that are very integrated into all manner of contingency planning and risk-based decision-making,” David said.