Legal cost managing and saving is
one of critical skills that an in-house legal counsel should possess. In
essence, it is a matter about how to get your job well done at lesser cost
regardless of whether you are a sole counsel or a head leading a legal team.
Saving cost does not mean to sacrifice the quality of work or reject outside
counsel’s assistance when needed!
Here are some general tips which may
be of help to you or your team:
1.
First step:
Effectively identify external and
internal legal and non-legal resources (including appropriate know-how, people,
legal service providers, information technologies, etc) available to you or
your team;
2.
Second step:
Use identified resources available to
do the right thing at the right time;
3.
Third step:
Prioritize work in front of you or
your team by importance and urgency;
4.
Fourth step:
Manage yourself or your team with
progressive targets and goals in a business manner;
5.
Fifth step:
Spend time to invest in yourself or
your team, and engage in continued legal training and education available both
internally and externally to keep professional knowledge of you or your team up
to date;
6.
Sixth step:
Equip yourself or your team with
necessary online and information technology tools and other support to save
time for doing legal work, research as well as filing and other daily admin
work.
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Note: This
document (including information contained herein) is for general information
only and is not legal advice or opinion for any purpose.
All rights
reserved. No part of this document may be copied, reproduced, circulated or
otherwise transmitted without prior permission in writing of Shanghai Hui Xiao
Law Consulting Group and its author Xiaoyun Xie (Ellen).
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About The
Author:
Xiaoyun XIE (Ellen) admitted in China and California,
consultant at Hui Xiao Law (Research) Center, has more than 10 years of
experience in serving multinational companies. Ms. Xie’s practice area is broad
with a focus on mergers and acquisitions, corporate restructurings, foreign
direct investment, labor and employment, corporate governance and compliance,
as well as private wealth management matters.
