SOME COMMON CHARACTERISTICS AND CHALLENGES OF ENERGY AND UTILITIES COMPANIES:
- Heavy regulation. Energy and utility companies must comply with myriad regulations including FERC, EPA, and OSHA. To maximize efficiency and assess risk, they need a unified matter management solution covering staff counsel’s litigation and transactional work, while addressing the compliance and reporting needs of legal groups managing regulation.
- Frequent acquisitions and divestitures. Leading energy sector companies often acquire and spin off business units to meet overall financial and strategic objectives. This creates integration and staffing challenges for legal departments, which need a solution scalable enough to manage new groups and intuitive enough for new staff members to master quickly.
- Optimization of outside counsel selection. Energy and utility companies often need local outside counsel to manage real estate disputes, energy exploration and pipeline agreements and contracts, and interaction with local regulators. Not only must these organizations control legal spend, but they need to make smart choices when selecting local firms and timekeepers. To address such challenges, several energy companies have developed assessment models based on analysis of past results.
To learn more about how Mitratech helped Chevron optimize outside counsel selection, download the whitepaper “Transforming Legal into the Best-Run Department in the Corporation.”
To learn more about how The Williams Company used Mitratech’s solutions to handle diverse regulation challenges, download the case study.
Contact us for more information on how Mitratech helps energy and utilities companies around the world meet their legal and compliance goals.