Business
Burford Capital Releases 2022 GC Survey Results
Burford Capital Releases 2022 GC Survey Results.
About this update from Burford Capital Limited
[{"type":"text","content":"\n \n \n FOR IMMEDIATE RELEASE\n \n \n \n \n \n \n \n \n \n New research reveals growing business impact of in-house lawyers and legal departments as they increasingly generate cash recoveries\n \n \n \n \n \n \n 69% of GCs say identifying new ways to add value is the most important means by which they can contribute to company success-and affirmative litigation recoveries have a role to play\n \n \n \n \n \n \n New York City, November 1, 2022 - Burford Capital, the leading global finance and asset management firm focused on law, today releases new independent research based on a survey of 300 GCs and heads of litigation in the US and UK that demonstrates the transformative way that GCs view legal department impact. GCs seek to add value to the business, and affirmative litigation recoveries play an increasingly important role. GCs also see a role for their law firm partners and for legal finance, especially in relation to fostering innovation and providing support for affirmative recovery programs.\n \n \n Christopher Bogart, CEO of Burford Capital, said: \"Burford's latest independent research shows that GCs are determined for the legal department to increase their business impact. Legal finance can help them, and the research shows that GCs are increasingly open to cost- and risk-sharing with third parties and that law firms need to be ready to talk to clients about this solution.\"\n \n \n Among the core findings of the research:\n \n \n \n ·\n \n GCs are ambitious for the legal department's impact in generating liquidity and transcending its traditional understanding as a cost center.\n \n \n \n o \n Over half (54%) say the legal department is understood to add value to the business by pursuing recoveries through litigation or arbitration.\n \n \n o \n An even larger majority (69%) say identifying new ways to add value to the business is the most important means by which in-house lawyers can contribute to the success of the company.\n \n \n \n \n \n ·\n \n Still, many see opportunities to do more, specifically in adding value through meritorious affirmative recoveries.\n \n \n \n o \n Over half of those surveyed (51%) say they need to build infrastructure and process to add value through meritorious affirmative recoveries.\n \n \n \n ·\n \n GCs expec...