Legal management, or the management of subsidiaries and shareholdings, is one process that has evolved, for legal departments thanks to legal software.
In the context of accelerated globalisation and the rise of multinational companies, legal departments have been forced to adapt in order to remain compliant with ever-changing standards. The increasing complexity of this task along with the constantly changing internal regulatory and operational requirements represent a modern challenge for legal entities.
THE COMPLEX ROLE OF THE LEGAL DIRECTOR
The role of today’s Legal Director requires centralising information relating to:
- Companies (list of subsidiaries and shareholdings, legal, financial and accounting data)
- People (agents, shareholders, third parties, experts)
- Third party institutions
The Legal Director of a company must also take into account the governance rules, procedure and legislation of all the entities of the group that are located abroad. These procedures require the use of a centralised software and of the construction of a dedicated legal organisation chart.
To achieve this, an accurate and efficient legal software is essential for methodical subsidiary management and shareholdings.