LegalOps Explained: The LegalOps Glossary (Part 2 of 2)

Part 2 of our LegalOps Glossary continue to provide insight into the terminology, roles, and areas of focus in the legal operations industry.

  1. General Counsel (GC): The chief lawyer of a legal department in a company or government, who provides legal advice to the organization and represents it in legal matters.
  2. In-House Legal Team: Lawyers and other legal professionals who are employed by the organization they represent, as opposed to outside counsel.
  3. Knowledge Management (KM): The practice of capturing, developing, sharing, and effectively using organizational knowledge.
  4. Legal Operations (LegalOps): The function within a legal department that improves the delivery of legal services to an organization in an efficient and effective manner.
  5. Legal Process Outsourcing (LPO): The practice of a law firm or corporation obtaining legal support services from an outside law firm or legal support services company.
  6. Legal Project Management (LPM): The application of the concepts of project management to the control and management of legal cases or matters.
  7. Legal Technology (LegalTech): The use of technology and software to provide and aid legal services.
  8. Matter Management: The administration and oversight of all matters and related information, including notes, emails, documents, and finances.
  9. Outside Counsel: Lawyers who are not employees of the organization but who are hired to assist with legal matters.
  10. Risk Management: The process of identifying, assessing, and controlling threats to an organization’s capital and earnings.
  11. Vendor Management: The discipline of controlling costs, driving service excellence and mitigating risks to gain increased value from vendors throughout the deal lifecycle.

This is just a broad overview and will help you start understanding the language of LegalOps.