In-House Counsel Connect Presentation: How to Turn Legal into A Business Partner that Generates Revenue and Protect Profits
How would your company view your Legal Department if it had generated more than US$2.6 billion in revenue for the company over 10 years? That’s the amount that the DuPont Legal Department recovered between 2004 and 2013 in its widely touted Legal Recoveries Program.
Legal Recoveries or Corporate Asset Affirmative Recovery (“CAAR”) programs enable a company to restore value from its assets by: (i) proactively identifying underperformance throughout its ecosystem; and (ii) deploying early case assessment, and dispute resolution mechanisms to efficiently recapture revenue and protect profits.
Now more than ever, the role of in-house counsel continues to evolve as Legal Departments shift into a more proactive and strategic function of the business that solves problems more efficiently.
David Burt and Cary Levitt, former in-house counsel with DuPont, who are now leading Diamond McCarthy’s CAAR Advisory Team, discuss the following fundamentals on how they have successfully implemented Corporate Affirmative Recovery Programs within corporations:
- Key principles of developing and implementing a Corporate Affirmative Recoveries solution;
- The success of DuPont’s “Pursuing Recoveries” program;
- How Recovery efforts impact trading relationships;
- Debunking the myths about Affirmative Recoveries;
- Specific examples, including contract claims and IP monetization, of how Legal Departments can boost the bottom line; and
- Innovative strategies being implemented by the Diamond McCarthy law firm to support their clients’ Affirmative Recoveries disciplines.