The Association of Corporate Council (ACC) – the worldwide association that promotes the interests of in-house counsel – recently published its ‘10 Key Findings from the ACC CLO Survey 2024‘.

While I have not read the full report, there are some very interesting take-outs from the Executive Summary, including:

• 58 percent of [in-house] departments have been impacted by law firm rate hikes
• 42 percent of CLOs say their legal department received a cost cutting mandate over the past year
• 23 percent of in-house say that rate increases have been difficult to manage
• only 9 percent are “very confident” in their organization’s ability to mitigate emerging data risks
• The top 3 issues that keep CLOs up at night are not what you would think [well, maybe one of them!]
• The importance of ESG would appear to be a little over cooked – but…
• …I’ll leave you with this one: 63 percent of CLOs say they are seeking to develop greater business acumen among the lawyers in their department – Good luck with that one!

Check out the link above to read more and as always if need any help feel free to get in touch.

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