Hi all,
I am part of a legal team of a reputed company. We are 5 in all. We take care of the litigation of the company with the assistance of External Counsels. Draft and Vet the agreements in house. Manage the Trademark related matters around the globe with direct involvement of Local Counsels in respective countries.
Now, my question is how can we bring down the cost incurred by the company in our restricted ambit. How can we as Legal Team take up some initiative to cut down the costs incurred by the company?
Kindly advise. Thanks in advance.
From India
1I am part of a legal team of a reputed company. We are 5 in all. We take care of the litigation of the company with the assistance of External Counsels. Draft and Vet the agreements in house. Manage the Trademark related matters around the globe with direct involvement of Local Counsels in respective countries.
Now, my question is how can we bring down the cost incurred by the company in our restricted ambit. How can we as Legal Team take up some initiative to cut down the costs incurred by the company?
Kindly advise. Thanks in advance.
From India
Dear Kumar,
In most of the companies, legal departments are very small. Minuscule percent of revenue is spent on this department. Yes, cost-cutting is mantra everywhere however, worrying about the costs of legal department is taking microscopic view.
Whose initiative is to to cut costs in legal department? Is it thrust from above or your own? What is the nature of your business? What is your finished product or service? Has your company direct and indirect costs of each department? Are you sure that your company is not doing what famous Hindi proverb says. It says "Chini Ki Chori Ho Rahi Hai aur Namak Ki Rakhwali Ho Rahi Hai". Its loose meaning is "penny wise and pound foolish".
To understand cost-cutting measures of your department, we need to understand the working of the department. Unless we have complete information, it will not be feasible to provide any solution.
Thanks,
Dinesh V Divekar
From India, Bangalore
In most of the companies, legal departments are very small. Minuscule percent of revenue is spent on this department. Yes, cost-cutting is mantra everywhere however, worrying about the costs of legal department is taking microscopic view.
Whose initiative is to to cut costs in legal department? Is it thrust from above or your own? What is the nature of your business? What is your finished product or service? Has your company direct and indirect costs of each department? Are you sure that your company is not doing what famous Hindi proverb says. It says "Chini Ki Chori Ho Rahi Hai aur Namak Ki Rakhwali Ho Rahi Hai". Its loose meaning is "penny wise and pound foolish".
To understand cost-cutting measures of your department, we need to understand the working of the department. Unless we have complete information, it will not be feasible to provide any solution.
Thanks,
Dinesh V Divekar
From India, Bangalore
Hi
Legal department also can contribute a major role to bring down the company cost by reviewing and analyzing the current cost and taking the appropriate action. You can contact us for further advice.
Thanks & Regards
Sanjeev K Baliyan
Advocate & Consultant
9971589511
From India, Pune
Legal department also can contribute a major role to bring down the company cost by reviewing and analyzing the current cost and taking the appropriate action. You can contact us for further advice.
Thanks & Regards
Sanjeev K Baliyan
Advocate & Consultant
9971589511
From India, Pune
Thank you Mr. Dinesh and Mr. Sanjeev. I have noted the contact numbers, shall contact you with more details. Thank you once again for replies.
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From India
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From India
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COST CUTTING STRATEGY Nov 07.pdf