Updated: May 24
Today brings additional input from general counsel on the impact of the COVID-19 crisis and what they see in the next 6-12 months. According to a COVID-19 Business Impact Survey by Morrison & Foers
ter LLP, more than half of the 110 in-house general counsel at global corporations who participated rank the current crisis as "severe"—at a level of 8 or higher on a 10-point scale, with 10 marking the "most severe" effect.
Furthermore, nearly 63% of respondents said that their current workload "has increased as an immediate result of COVID-19." As the current situation continues, we believe that while the urgency of the crisis may level out or decrease a bit, the amount of additional work will only increase, made harder, of course, if the statistics posted yesterday about the number of furloughs already happeni
ng in law departments continues.
[T]he general counsel who participated in MoFo's survey ranked the legal risks related to data security and privacy lower than other virus-related concerns — at fourth and sixth, respectively. The main three legal risks associated with COVID-19 — regardless of company size — are employment/human resources, contracts, and supply chain disruption, the survey found. https://www.law360.com/articles/1259963/gcs-forced-to-shift-priorities-amid-covid-19-crisis?nl_pk=4044f669-4f20-453a-81a4-c0500a48f798
Co-Founder, ElevateNext Law, Deputy General Counsel, Elevate at Elevate Next
Nicole co-leads the ElevateNext business and is a founder of ElevateNext Law, LLP, a new model law firm founded in 2018, that sits alongside Elevate to provide customers with a one-stop solution that includes the practice of law. Nicole also serves as Deputy General Counsel at Elevate. Nicole is nationally known as an innovator in the legal industry, having founded Valorem Law Group in 2008 to pioneer the alternative fee movement. Valorem was named "One of the 22 Best Firms at AFAs" by BTI Consulting in 2016. Prior to forming Valorem, Nicole practiced for 15 years at an AmLaw 100 firm in Chicago, where she was a partner in the litigation department. She represents clients in federal and state courts and in arbitrations across the country using alternative fee arrangements. In 2017, Nicole was named one of the "Most Influential Women Attorneys in Chicago" by Crain's Publishing. Nicole was previously named "One of the Top 50 Women Lawyers in Illinois" by Illinois SuperLawyers and one of "Forty Illinois Attorneys Under 40 to Watch" by the Law Bulletin Publishing Company. Nicole is a certified arbitrator through the American Arbitration Association. She is also a Fellow of the College of Law Practice Management.