This week, thousands will attend the annual conference of the Corporate Legal Operations Consortium (CLOC) in Las Vegas. In recent years this event has exploded—in no small part because the organization’s core focus (“a seamless legal ecosystem that delivers corporate legal support … with peak efficiency”) is so relevant to the challenges that are on the minds of today’s in-house legal leaders.
I’ll attend CLOC this year for the first time. Given my role as the head of marketing and business development for the world’s largest legal finance provider, that might lead you to ask: What’s legal finance got to do with CLOC?
My answer: Everything.
Admittedly, CLOC has historically not included legal finance in its toolbox of what’s needed to achieve “peak efficiency” in in-house legal teams, focusing instead on “people, technology, processes and knowledge bases”.
But in 2019, legal finance is foundational to efficiency for the corporate legal teams and law firms that use it—and that’s only going to become more the case, since according to Burford research 70% of those who haven’t yet used legal finance say they will in the next two years. At the very least, in addition to helping legal departments offload cost and manage risk, legal finance will help power all of those “people, technology, processes and knowledge bases”.
I look forward to reporting back from CLOC—and if you’re attending, see you there.