The practice of law in the UK is undergoing significant transformation. In-house legal teams are experiencing shifts in complexity, regulation, and stakeholder demands. According to recent survey of in-house counsel by ÀÏ˾»úÎçÒ¹¸£Àû, the top trends impacting the practice of law include the formation of more niches, greater regulation, and the ongoing effects of Brexit. Let's delve into these trends and explore how in-house counsel can navigate this changing landscape.
50% of in-house legal teams observe the formation of more niches in the law.
To manage this complexity, in-house teams should focus on developing specialised expertise and fostering a culture of continuous learning. By staying informed about niche areas, teams can provide more targeted and effective legal support to their organisations.
Invest in your teams specialist knowledge here.
52% of in-house legal teams face greater regulation and reporting requirements.
To address this, teams should implement robust compliance frameworks and engage in proactive risk management. Regular training and updates on regulatory changes can help ensure compliance.
Everything you need to manage your organisation's regulatory risk and compliance
3. Accelerating internal stakeholder demands
44% of in-house legal teams report accelerating internal stakeholder demands.
To meet these demands, in-house counsel should leverage legal technology to streamline processes and enhance service delivery. By adopting tools such as AI and automation, teams can improve efficiency and responsiveness to the organisation's needs.
I want to read the ÀÏ˾»úÎçÒ¹¸£Àû In-house Legal AI report
Ignoring AI is like ignoring the internet, says a General Counsel and Company Secretary at a biotech firm.
"Using a tool like AI doesn't make you less of a lawyer," he believes, suggesting that lawyers keep an open mind to the technology's possibilities rather than looking to demonstrate its failures.
29% of in-house legal teams are affected by changes to UK/EU law post-Brexit.
To navigate these changes, teams should stay informed about legislative developments and engage with external experts when necessary. By understanding the implications of post-Brexit legal changes, teams can provide strategic guidance to their organisations.
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