Extract from Petra Pasternak’s article “Why CLOs Are Centralizing Discovery In-House”
Facing serious challenges, corporate legal teams are at a crossroads.
Budgets are getting tighter even as outside counsel fees keep climbing. Legal and regulatory work is more complex than ever. And the amount of data in-house legal professionals have to sort through for litigation and investigations boggles the mind.
With legacy ediscovery methods, staying ahead of growing demand is impossible.
Corporate law departments can continue to rely on too many expensive external partners, outdated tools and workflows, leaving their teams trapped in silos that increase risk and slow things down. Or they can innovate to stay ahead.
Savvy in-house leaders are choosing a new approach: they are bringing oversight of discovery in-house, consolidating litigation and other data-intensive matters, and overseeing the work – from the first legal hold through matter resolution – from a single central hub.
This modern approach gives in-house leaders unprecedented insight and leverage to control exploding data, rein in runaway costs, mitigate security risks, and to actually meet the challenge of doing more with less.
