Last month, Norton Rose released their annual 2016 Litigation Trends Survey and survey says: Corporate Counsel can anticipate an increase in litigation stemming from lawsuits and regulatory action. The survey also found class action suits, IP and labor disputes are also on the rise.
But it isn’t all bad news. Corporations appear to be mindful of this trend and actively working to mitigate it. 40% of respondents reported they were implementing effective preventative measures aimed at reducing the volume of litigation. With litigation increasing, this is a good practice for all corporations to adopt and a trend that should increase. The survey even includes an example framework to get corporations started.
Other survey highlights include:
- Pharmaceutical and health care industries face twice as much litigation as energy companies.
- More respondents are using AFAs for their litigation work, and 97% were satisfied with the work conducted under an AFA
- 97 percent felt that government regulators are more aggressive.
- 35 percent currently face some sort of regulatory action.
As a Norton Rose Partner said, with regulatory activity hitting headlines, it remains top of mind for many GCs. If corporations are interested in keeping costs low while litigation is on the rise, we have a few resources that may be of interest: