Grant Thornton, which surveyed 243 in-house counsel in both private and public companies across a variety of industry sectors, found that more than half say that regulatory compliance and enforcement was among the top threats to organizational growth.

According to the study, 57 percent of in-house counsel ranked "economic uncertainty" as one of the most significant threats to organizational growth. Ranking as the second-highest threat to growth was "regulatory compliance and enforcement," cited by 53 percent of respondents.

Brad Preber, national managing partner of Grant Thornton's Forensic and Valuation Services practice, said the findings are "particularly shocking when you see that in-house counsel believe regulation is a bigger threat to growth than competitors or sales to customers."

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