Legal Leaders Exchange - Podcast Episode 4
Megamatters: Mammoth Legal Matters
Legal operations professionals sometimes focus on managing day-to-day legal work to the exclusion of the elephants in the room: the huge, "bet-the-company" legal matters. In many organizations, legal ops is expected to avoid any involvement whatsoever in these matters, but that is not necessarily in the best interests of the company. In this episode, Wolters Kluwer’s Nathan Cemenska and Ron Denton of Phillips 66 discuss how companies can benefit from applying legal ops expertise and processes to these “megamatters.”
Listen for answers to the following questions:
- What is the correlation between spend on megamatters and total legal spend?
- What percentage of total legal spend is spent on matters that cost over $1 million?
- How should legal teams plan for large and/or unexpected matters in their budgeting process?
- What can legal ops teams do to help control megamatter spend and make it more predictable?
- How can companies divide up the work on these matters to maximize savings?
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