In-House Legal Work to Increase Over the Next Year
Corporate law departments have reported in a recent Altman Weil survey that they will cut down on outside counsel spending over the next year, writes JDJournal, reporting on Altman Weil Inc.’s “2014 Chief Legal Officer Survey.”
The survey said that the recession put limits on in-house legal department resources, but also gave chief legal officers more leverage against outside counsel, JDJournal writes.
“Chief legal officers are buyers in what is currently a strong buyers’ market,” the survey says.
Data from the survey found that half the law departments involved received price reductions from outside counsel ranging between six and 10 percent. More than one-third of the firm that responded said the discounts they received were more than 10 percent, JDJournal says.
