Law Department Management Blog
With permission, I reproduce below a post from Lynn Galbenski of Lumen Legal:
On February 12 from 1:00-2:00 p.m. EST, Lumen Legal will be hosting our first webinar of the year. It’s part of our 2013 Corporate Counsel webinar series to help Corporate Counsel meet the challenges of a changing legal marketplace. We’ll host six free webinars held this year.
Our Founder and SVP of Strategic Initiatives, Dave Galbenski, will be interviewing Rees Morrison. Rees is the President of General Counsel Metrics, LLC. For more than 25 years, Rees has specialized in corporate counsel consulting. He’s helped hundreds of general counsel and chief legal officers manage their legal departments more effectively. In 2009, he launched the first corporate counsel survey with over 800 corporate legal departments. He did so because he saw the clear need for a larger, simpler, less expensive survey. Today, over 1,000 corporate legal departments across 37 countries participate. In addition, 26 industries are covered. During the webinar, Rees talks about his latest release and shares the six fundamental benchmarks all corporate legal departments should monitor:
1. Total legal spending as a percentage of revenue
2. Lawyers per billion dollars of revenue
3. Internal to external spending ratio
4. Internal spending as a percentage of revenue
5. External spending as a percentage of revenue
6. Cost per lawyer hour
Rees also analyzes the six metrics by 26 industries, 15 countries, ten regions and four revenue quartiles. The insights Rees brings to corporate legal department through this survey are significant. I found his “Legal Intensity” industry ranking to be quite interesting. You can quickly see how different it would be to be a lawyer in the retail space (low legal intensity) vs. the technology space (high legal intensity). Rees provides many reasons why that’s the case.
In addition, compensation is covered. How much does a corporate legal department lawyer receive in total compensation in the first decade of practice? The second? How does this vary by practice area? Which practice areas are most lucrative? How does compensation vary by industry? Which industries pay the most?
If you’re interested in attending the free webinar, click here for more information or to register. [https://www4.gotomeeting.com/register/476368895] All you need is a computer and a phone line. The information you gather will be invaluable.