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TheStreet Open House

30 Percent Of General Counsel Say Corporations Are Not Prepared To Defend Against Cyber Attacks, Consero Survey Reveals

BETHESDA, Md., Feb. 1, 2013 /PRNewswire/ -- Consero Group, an international leader in creating high-level, invitation-only events for senior executives, in partnership with Applied Discovery, a worldwide leader in electronic discovery and legal risk management, today announced the findings of the Consero 2012 General Counsel Survey. According to the survey, 30 percent of General Counsel surveyed indicated that their corporations are not prepared to defend against cyber attacks. In addition, 28 percent of respondents said their companies had experienced a cyber security breach in the past 12 months.

"The findings of the Consero 2012 General Counsel Survey are alarming," said Paul Mandell, Founder & CEO of Consero Group. "From cyber terrorism to competitive attacks to random hacking, the proliferation of security breaches remains a growing threat facing corporations. A renewed focus on preparedness and collaboration with their CIO counterparts seems necessary as GCs confront evolving threats in 2013. The stakes are high for GCs--particularly in highly regulated areas."

The Consero 2012 General Counsel Survey was developed with the support of Applied Discovery in conjunction with Consero's invitation-only event for a group of Fortune 1000 General Counsel in December 2012.  Additional findings spoke to the health of legal departments in terms of staff size, budgets, salary, and access to upper management.

Most budgets and staff sizes remained intact or increased, and a majority (72 percent) reported that they were satisfied with the level of resources available to them.  Most of the respondents (54 percent) said that they report directly to the CEO, and an overwhelming 91 percent say they have sufficient access to their CEOs.  GC's continue to be well compensated with salaries of the surveyed participants ranging from $175,000 to over $400,000.

"Fortune 1000 companies clearly recognize the importance of the legal function, and they continue to arm GCs with the resources and access required to manage in-house legal departments effectively," said Mandell.

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