In response to the global COVID-19 pandemic, Morrison & Foerster released its first COVID-19 Business Impact Survey in March of this year, followed by its COVID-19 and Easing of Stay-at-Home Orders Impact Survey, to understand how in-house general counsel from global corporations were managing the immediate and long-term business impact of the virus.

Now, as the world is working to recover from the ongoing pandemic, Morrison & Foerster has once again surveyed in-house general counsel from global corporations to understand where companies are on the road to recovery and how they have been impacted to date

METHODOLOGY

For our Coronavirus (COVID-19) Road to Recovery Survey, Morrison & Foerster surveyed in-house legal professionals around the globe with revenues of up to more than $20 billion. The survey was conducted between September 23 and November 10, 2020.

1015370a.jpg

The top three industries represented in the study include finance and insurance (20%), followed by technology (14%) and life sciences (10%)

FINDINGS

While COVID-19 continues to have a significant impact on companies worldwide, and many of the issues that were top of mind in our first study still remain, our new findings indicate increased optimism with respect to how businesses are navigating the impact of the pandemic and as they look towards the future with the possibility of a viable vaccine on the horizon.

[C]OMPANIES ARE BEGINNING TO SEE SOME EVENTUAL LIGHT AT THE END OF THE TUNNEL, AS MULTIPLE VACCINES ARE POISED TO BECOME AVAILABLE IN THE MARKET, AND GIVEN THAT COMPANIES NOW HAVE HAD SEVERAL MONTHS OF ADAPTING THEIR PROCESSES AND OPERATING IN A PANDEMIC ENVIRONMENT.

David Newman, Morrison & Foerster Partner and Head of the Firm's Coronavirus (COVID-19) Task Force, who served as Chief of Staff of the Ebola response office in 2014 – 2015 while an official on the National Security Council staff.

To read the full article click here

Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Morrison & Foerster LLP. All rights reserved