The Thomson Reuters Institute has recently published its 2022 State of Corporate Law Departments report. The report captures the experiences of more than 2,000 senior in-house and private practice lawyers globally.
One of the headlines from the report is that 43% of those corporate law department leaders surveyed said that they expect their departments’ total spending on legal matters to increase in the coming 12 months, as opposed to just 21% that said they were anticipating a reduction in spending. This is the strongest indication yet of a significant upturn in the level of legal expenditure that the survey has tracked over the last decade.