General counsel are under real pressure to minimise their overall legal spend and yet at the same time to become better at managing legal risk within the business. Accordingly, the importance of effective legal risk management has risen to the top of the list of priorities of many general counsels.
The traditional approach of relying on experience and judgement in a primarily event-driven, reactive manner is quickly becoming outdated. Yet many in-house lawyers, regardless of their level of seniority, have never received any formal training on how to ensure that legal risks are being managed effectively.
With these needs in mind, Berwin Leighton Paisner in conjunction with RSG Consulting interviewed leading general counsel from a variety of businesses to understand their different approaches to legal risk management and to collate key themes from the research group.