2021 Tech GC Report: Key Insights from Wilson Sonsini and CIMphony

The 2021 Tech GC Report, published by Wilson Sonsini and CIMphony, provides valuable insights into the current state of technology and the legal challenges facing general counsel (GCs) in the tech industry. The report highlights the top concerns and priorities of GCs, as well as the strategies they are using to address these challenges.

In this article, we'll dive into the key findings of the report and explore the implications for tech companies and their GCs.

The report surveyed 150 general counsel from tech companies, including startups, mid-sized companies, and large enterprises. The respondents represented a wide range of industries, including software, hardware, and internet companies.

One of the key findings of the report is that GCs are increasingly concerned about data security and privacy. 71% of respondents cited data security and privacy as a top concern, up from 55% in the previous year. This is likely due to the increasing importance of data protection and the growing risk of data breaches.

Another key finding is that GCs are prioritizing compliance with regulations such as GDPR and CCPA. 63% of respondents cited compliance with regulations as a top priority, up from 53% in the previous year. This is likely due to the increasing complexity of regulations and the need for companies to ensure compliance.

The report also highlights the importance of innovation and risk-taking in the tech industry. 55% of respondents cited innovation as a top priority, up from 45% in the previous year. This is likely due to the need for companies to stay ahead of the competition and drive growth.

Finally, the report notes that GCs are increasingly using technology to support their work. 71% of respondents cited the use of technology to support their work as a top priority, up from 63% in the previous year. This is likely due to the increasing importance of technology in the legal profession and the need for GCs to stay up-to-date with the latest tools and technologies.

In conclusion, the 2021 Tech GC Report provides valuable insights into the current state of technology and the legal challenges facing GCs in the tech industry. The report highlights the top concerns and priorities of GCs, as well as the strategies they are using to address these challenges. By understanding these insights, tech companies and their GCs can better navigate the complex legal landscape and drive growth and innovation.