Disruption, Deal-Making, and Data Privacy: How are in-house legal departments responding?
What issues kept in-house legal departments busy over the last 12 months? What worries are top of mind for legal and compliance officers? How are they responding?
Disruptions, including the pandemic, severe stress on global supply chains, changes in consumer habits, and M&A deal-making that swept across the business landscape in 2021 touched every type of corporate activity, and corporate litigation and compliance activities were no exception. The changing landscape is clearly visible in the results of AlixPartners’ latest litigation and compliance survey of 285 corporate counsel, legal, and compliance officers at companies based in the U.S., Europe, and Asia, with annual revenues of $500 million or more, conducted December 6-28, 2021.
Key highlights include:
- Nearly 94% of executives believe their business models will need to change in the next three years. This sentiment was echoed throughout the responses to our survey.
- 61% of respondents said they have been involved in a "bet the company" lawsuit in the last 12 months.
- 44% of respondents cited data breaches/cyberattacks as the biggest threat to their organization.
- 57% of respondents said that the number of legal disputes increased in 2021.