Discover Insights

Add Your Heading Text Here

An Update and Possible Solutions in the Apple Watch Saga

Employ the Galileo Mindset to Discover $59M in Annual Legal Value

By Scott Bien, Vice President, Enterprise Data & Insights and Nicholas Mirick, Head of Solutions & Enterprise PMO

Employ the Galileo Mindset to Discover $59M in Annual Legal Value

To understand their value, in-house legal teams might adopt a data scientist mentality and embrace the same disciplined approach used by other major corporate functions.

А quick internet search for “value in legal departments” is an act akin to generating white noise. Every article, outlet and columnist offer their own definition, study, or survey, each straining to defend their blend of quantitative benchmarks and qualitative excuses for why some things are impossible to measure in legal. The consistent signals in the noise are that:

  • in-house teams are being called to demonstrate their value and efficiency to the business, and
  • in-house teams are struggling to quantify and articulate that value.

To understand their value, in-house legal teams might adopt a data scientist mentality and embrace the same disciplined approach used by other major corporate functions. To quote Galileo, “Measure what is measurable, and make measurable that which is not.” Some metrics can be directly assessed. Others can be inferred. Still more can be understood only as trends over time.

Through the shared language of data, legal can articulate and increase its value in specific, quantified terms. To do so, we’ve applied a Galileo mindset to value assessments and identified three primary drivers through which value can be articulated and increased: cost reduction, revenue generation, and performance improvement.

Read the full article here to learn more about where $59M in annual value is hiding, primary drivers of legal value, and three steps to shape a data-driven legal team.

Originally published in Corporate Counsel, October 5, 2022.

Related Content

5 Litigation and AI Trends to Watch in 2024

In-depth analysis of immediate use cases for AI, including case analysis, document review, privilege logs, response drafting and budgeting and settlement

Haleon & UnitedLex – Building Your Legal Dream Team: A Case Study in Data-First Collaboration

Understand the goals, challenges, and lessons learned when Haleon and UnitedLex created a hybrid legal department delivering ongoing innovation and value for the business.

Source Code Review: A Powerful Tool in Technology Patent Infringement Litigations  

Source code review provides an inside look of how software products work. It is critical to getting an objective look at how a technology behaves, communicates with other devices, stores data, and executes various operations.

Apple Forced to Halt Sales of the Apple Watch Series 9 and Ultra 2

Apple could avoid the import ban by moving manufacturing to the US, but that would introduce a host of legal and business challenges — including wilful infringement – which can lead to enhanced damages.
Whitepaper

Saving Money Through Smarter Legal Invoice Review Processes

Reduce spend and administrative burden with a strategic legal invoice review program anchored in data.

2024 IP Impact Study: Trends in Benchmarking Value