The role of in-house legal teams has evolved majorly over the years! Legal advice is no longer restricted to risk management; it is increasingly viewed as a strategic partner, influencing, and driving strategic direction.
So, what are the problems and possibilities faced by today’s in-house legal departments? In this article, we look at the obstacles and possibilities that a legal team like Mirman Law faces.
Risks & Challenges Faced By In-House Law Teams
- Managing litigation and risk
Probably one of the greatest challenges faced by legal teams is the chance of a lawsuit sinking a firm or putting the promoter’s or board members’ personal reputations on the line.
Second, there are dozens, if not hundreds, of pending legal cases that might drag on for years. However, if they are not handled properly and critical court dates are missed due to inattention on the part of your staff or outside counsel, some of these more regular cases may end up in the first group.
- Securing the right document at the right time
You can’t modify other people’s document management practices, no matter how organized you are. This is where professionals at Mirman Law come in as organized professionals.
The way they organize their documents, you can easily access them when you need a document urgently. Even if your staff is reasonably structured, the same cannot be said for the other vendors, functions, or outside counsel. Attempting to change the habits of organizing documents can help save time greatly.
- Managing external lawyers
In-house teams and legal firms are often considered to be the two sides of the same coin. The majority of the time, this tension is generated by a lack of communication between the two parties. The lack of an appropriate collaboration environment is the cause of these gaps.
Siloed activity can also lead to misconceptions among those working on the same project. These chasms grow, making working conditions extremely tough.
Legal expenses are a regular source of worry for companies. In-house teams, when managed by experts from Mirman Law are sometimes oblivious of their expenditures until they reach unacceptable levels. It would be much easier for legal teams to convey a projected litigation cost to business operations in order to avoid any surprises at the end of the case.
- Collaborating with the technology
The mere mention of technology may make many lawyers nervous. They would prefer to work in the environment they have been accustomed to then waste time learning new applications. The majority of software solutions come with a significant amount of training time.
Ambitious technological initiatives fail even before they are implemented because attorneys are unsure of the concrete value at the conclusion of the process.
Making attorneys work on several interfaces and enter the same data in multiple systems might go against the goal of implementing technology to improve the productivity of an in-house legal department.
Now You Know!
When compared to the others, in-house law firms can often prove to be challenging! With the rising expectations and demand among the professionals, it is only logical if we understand the challenges faced by these legal representatives.
