Norton Rose Fulbright’s 2023 Annual Litigation Trends Survey finds that more legal spending is moving in-house, and organizations feel largely prepared to address litigation in the year ahead.
Respondents attributed that confidence to several factors including their organization’s in-house litigation experience and confidence in external counsel. Also cited were internal risk management practices and in-house tools and capabilities such as eDiscovery platforms and data protection solutions.
Some in-house legal operations have room to grow when it comes to technology. For example, nearly one-quarter (24%) weren’t considering the use of artificial intelligence or predictive analytics to spot risk. Compliance tools like Norton Rose Fulbright’s NT Analyzer can help detect privacy and security risks associated with mobile apps, websites and the Internet of Things (IoT) amid growing data privacy concerns and revamped privacy laws at the state level. California and Virginia have already enacted comprehensive privacy laws, and Colorado, Connecticut and Utah are expected to follow suit later this year.
Just sixteen percent of respondents said they weren’t considering the use of litigation software, the same number of respondents that said the use of legal technology was a low priority.
International Restructuring Newswire
Welcome to the Q1 2023 edition of the Norton Rose Fulbright International Restructuring Newswire.
DORA – Digital Operational Resilience Act
On December 27, 2022, the European Regulation on digital operational resilience for the financial sector was published. It entered into force on January 17, 2023 and will apply as of January 17, 2025.