Lathrop & Gage LLP conducted its 2013 Survey of Agribusiness Trends. Forty agribusiness organizations, each with minimum revenue of $40 million were asked to identify key risks and opportunities for the agribusiness industry. According to the respondents the top risks to agribusiness being able to operate are legislative risk (43%), political risk (34%), and environmental risk (21%). All respondents anticipated an increase of work across all work types in response to those risks. The largest predicted increases in work include work associated with federal regulations (80%), state regulations (61%), and environmental regulations (61%). The respondents also indicated what key forces represented the greatest opportunities for agribusiness. 39% indicated technology, and 23% indicated social data as offering the greatest opportunities. Both factors allow agribusiness to become more efficient and effective and maximize opportunities for growth. The survey goes on to state that most agribusinesses have small or no legal departments with 66% of those surveyed reporting having no legal specialist in their department. To read more about the survey results:
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