Caterpillar Legal Services Receives Recognition in Innovation from Financial Times

The Commercial Section of Caterpillar Legal Services was recognized by Financial Times magazine as one of the most innovative in-house U.S. corporate law teams. The U.S. Innovative Lawyers 2012 commendation was awarded for the section's use of lane strategies and flexible resources to significantly reduce costs over the past three years.

The Commercial Section provides legal support for mergers, acquisitions and divestments, global purchasing, supply chain, machinery and specialty products in the Americas and EAME. They are responsible for drafting and reviewing legal documents and multiple expression review, including direct purchasing and sales agreements. The group, led by Mike Sposato, is located in 13 offices around the world and currently consists of 53 attorneys and 37 support services staff members.

Since the launch of lane strategies and flexible resources, the Commercial Section has seen success in cost management, quality and efficiency in processes. Overall, there have been cost savings of $1.6 million in 2011 and $4.25 million in 2012

The full Financial Times U.S. Innovative Lawyers 2012 report is available here. See page 19 for the in-house corporate law teams list.