According to new research, nearly a third said they either did not add value or did not know if they did. Furthermore, many felt they did not get feedback from the board on their performance.
The research,‘The GC’s role in M&A, Divestitures and Strategic Alliances’ in association with Terralex, also found that the long-standing relationships is the main way of selecting law firms for mergers and acquisitions work.

CEO input

Corporate counsel said that whilst the legal department had an input, the CEO’s decision was highly important followed by the finance director and business executives.  One in five said other board members were always  involved.The research is part of the GC Excellence Benchmarking series and can be downloaded here.