Cost-Conscious Legal Departments: More work is staying inside the company

Posted on 10-27-2014 by
Tags: law firm trends , legal profession , Latest Headlines & Stories

There is some interesting new data out about how much companies are spending on legal services. It shows that total legal spending is increasing globally, but the rate of increase is slowing.

Total legal spending globally edged up 2 percent, according to the recent 2014 HBR Consulting survey based on responses from a select group of companies. This is less than the increase of 5 percent seen in the 2012 survey and less than the increase of 3 percent seen in 2013 survey.

It was shown too that inside legal spending, which includes compensation and operating expenses for the law department, increased 5 percent, according to the 2014 survey. On the other hand, outside counsel spending decreased by 2 percent.

 

The above article has been republished courtesy of InsideCounsel.

Comments


LeonardRogers
LeonardRogers
Posted on : 27 Oct 2015 7:26 AM

As compared to last year this year also the data looks more promising. A survey done by Lee & Meier Law indicates that the economy is recovering, it is slow but  continues to rise.

Anonymous
Anonymous
Posted on : 30 Jan 2017 8:22 PM

Our clients are always finding ways to cut legal costs. Whether it be using in-house counsel or just prioritizing cases in order to minimize litigation.

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