[Editor’s Note: EDRM is proud to amplify the educational resources of our Trusted Partners.]
EDRM Trusted Partner, IPRO, is providing our community a deeply researched and richly illustrated complimentary white paper “How General Counsel can thrive during an economic downturn | A 2023 Playbook.”
With graphs illustrating trends over time, the survey results from the General Counsel regarding priorities, challenges and reallocation of spend are contrasted against global macroeconomic trends.
We’ve seen these sorts of dynamics at play before, and we know what it means for General Counsel the world over. “Whenever there is economic turmoil, tempers flare and lawsuits fly.” This increased risk of litigation comes in an environment of increased privacy regulation in the US — and a majority of CLOs polled in the 2022 ACC Chief Legal Officers Survey expect increased regulatory enforcement to follow.
The report begins:
The world has changed.
If the past two years have taught us anything, it’s that those who are prepared will prosper. As 2022 winds down, signs point to heavy economic headwinds in 2023. A recession is brewing. The signs are everywhere. Inflation and rising interest rates have combined to propel commodity prices to their highest. A global economic risk abounds, hence now’s the time to prepare.
Major economies in the US, Germany, Italy, France, and the UK are experiencing small recessions to close out 2022. There’s no reason to think that slow down in growth will stop in 2023. So, we must consider, what are the challenges for legal teams specifically? How can Legal Leadership Well, these headwinds will force legal departments to do more with less.
Download IPRO’s complimentary white paper “How General Counsel can thrive during an economic downturn | A 2023 Playbook.”
