We all take for granted that the business of law is changing and that clients are now in the driver’s seat. But does it follow that corporate counsel know where the legal market is headed?

This question came to mind following my recent participation at the annual meeting of the Corporate Counsel Institute at Northwestern University Pritzker School of Law. I was part of a panel on the changing economics of the business of law. During the day and half that preceded us, the 250-plus in-house lawyers in attendance covered a dizzying array of topics, including changes in regulatory law, compliance programs, hot topics in labor and employment, practicing law in the digital age, the role of the general counsel in board-related matters, enabling legal to operate at the speed of business, lawyers as leaders and lessons in corporate crisis management.