There remains a considerable discrepancy between businesses’ awareness of dispute and litigation risk and the rate of change, and their level of proactive preparation to mitigate this.
Despite only 17% of businesses saying they predict no investigative concerns from regulatory or government bodies over the next 12 months, just 43% claim to be proactively managing the risk of such scrutiny.
Beyond the obvious legal implications of litigation, disputes also have a considerable financial and reputational impact on companies. One in five are expecting media scrutiny around their litigation over the next 12 months, while 17% of G20 companies’ legal spend is expected to be on settlements.
With litigation developing into an increasingly complex minefield, comprehensive and proactive preparation for disputes has never been so vital and ought to be at the forefront of business leaders’ minds. Through preparation, businesses can increase their resilience for when a dispute may arise, and be better equipped to forecast — and address — potential disputes and litigation before they develop.