The American Herbal Products Association (AHPA) is collaborating with General Counsel Metrics LLC (GC Metrics), a Princeton, N.J.-based benchmark metrics and consulting analysis firm, to provide the first-ever nutritional supplement industry benchmarks on legal staffing and spending.
GC Metrics, which produces the largest legal benchmark survey in the world, with 845 companies participating last year, released its first report in early June to 332 participating legal departments and its second cumulative report in August to 485 departments. The third cumulative report, which will be released in early October, will cover more than 700 departments.
Industry companies are encouraged to submit data to see how their legal staffing and spending compares with others in the nutritional supplement industry. Respondents do not have to be an attorney or have a legal department to complete the survey. Companies need only have paid legal expenses to external law firms.
Respondents will receive a report of 25 benchmark metrics for the industry (along with 26 other industries), as well as data based on the size of the law department and corporate revenue. Only aggregated and normalized information is included in the reports, such as the median of external legal expenditures per dollars of revenue.
If at least six companies in the nutritional supplement industry take part in the survey, the report will show all the median benchmark metrics for that group. If significantly more take part, the report will show quartiles and other metrics.
The survey is confidential and consists of only background information and six core data questions including:
- The number of lawyers, paralegals, and other staff as of Dec. 31, 2011;
- Internal and external legal spend during fiscal 2011; and
- Company revenue during fiscal 2011
Companies are encouraged to complete the survey by September 30 to receive the third report; if the survey is submitted later, they will receive the fourth report in early December. For more information about the survey, contact Rees Morrison, president, General Counsel Metrics, 973.568.9110.