EN / 简

1 minute read 27 Aug 2020

Realizing the benefits of legal managed services

Rossana Chu
By Rossana Chu

Managing Partner

Rossana Chu, Managing Partner of LC Lawyers LLP, is a highly regarded leading lawyer in the mergers & acquisitions and capital markets sectors. She also advises on restructuring and compliance matters

1 minute read 27 Aug 2020
Related topics Our latest thinking
Upvote

Show resources

EY Law published a new research report titled "Realizing the benefits of legal managed services". The report is based on a survey of 1,058 senior legal practitioners from businesses in 25 countries.

Among the respondents, 72% are currently outsourcing legal services in the following six areas which are commonly covered in "legal managed services":

  • contract management
  • legal entity management and compliance
  • employment law
  • due diligence
  • document retention
  • records management

Law departments are constantly seeking ways to control internal and external counsel costs. Optimizing internal operations remains another priority. The EY "Reimagining the legal function 2019" report found that even large law departments spend nearly one out of every three hours on self-described "low-value" tasks. This highlights the importance of improving productivity of the internal legal functions of many organizations.

The introduction of "legal managed services" allows new technology-enabled delivery models of legal functions. The research shows that the law departments that use legal managed services widely enjoy benefits including:

  • More cost-effective in service delivery today
  • More confident about improving efficiency in the future
  • More confident in their ability to respond to geopolitical and regulatory changes
  • More confident they have built the right set of capabilities within their departments
  • Better able to attract and retain talent

To read more:

https://www.ey.com/en_gl/law/how-to-address-enterprise-wide-legal-considerations-after-a-crisis

LC Lawyers LLP is an independent law firm. It is a Hong Kong law firm member of the global EY network, in collaboration with other law firm members.

Legal services

Hong Kong IPO and Corporate Finance

With a wealth of experience in corporate financing, our Hong Kong based lawyers can help with initial public offerings (IPOs), raising capital and more.

Read more
Mergers and Acquisitions

A Hong Kong M&A law firm, our lawyers practice equity and loan transfers, acquisitions, privatisation, takeovers, tender offers and acquisition by auctions.

Read more
Compliance and Investigations

Our Hong Kong based compliance and investigations team at LC Lawyers LLP provides services to and represents clients across the world. Learn more today.

Read more
Dispute Resolution

Our Dispute Resolution Lawyers in Hong Kong have extensive experience representing clients with flexible and robust strategies. Contact us today.

Read more
Restructuring and Insolvency

Our Restructuring and Insolvency lawyers offer services to companies in Hong Kong under crisis including restructuring, re-financing and more.

Read more
Employment and Talent Management

Talent management is a very important aspect in any type of entity. An effective talent management strategy involves workforce planning, skillful implementation and compliance with relevant employment laws and regulations.

Read more

Summary

EY Law published a new research report titled "Realizing the benefits of legal managed services". The report is based on a survey of 1,058 sernior legal practitioners from businesses in 25 countries. 

About this article

Rossana Chu
By Rossana Chu

Managing Partner

Rossana Chu, Managing Partner of LC Lawyers LLP, is a highly regarded leading lawyer in the mergers & acquisitions and capital markets sectors. She also advises on restructuring and compliance matters

Related topics Our latest thinking
Link copied
Upvote