In 2013, alternative fees arrangements or AFAs accounted for 12% of matters and 7% of billings, according to the latest LexisNexis CounselLink Enterprise Trends Report.
The report surfaced key legal trends, such as corporate legal departments moving more and more M&A work to the “second-largest” law firms, and it also reported on several industry-wide metrics. These metrics included the going law firm rates by billing area, AFAs (as shown above) and partner hourly rate growth.
This coming Wednesday we’ll be hosting a webinar with the report’s principal author Kris Satkunas. The focus will be to show corporate legal departments how industry forces are shaping the dynamics between cost and value. The webinar is free with registration.
What: Highlights from the Enterprise Legal Management Trends Report
Who: Corporate counsel and legal department operations
When: Wednesday, August 27, 2014 2:00-2:45 p.m.
Where: Free webinar; register here
- Wall Street Journal: Smaller Law Firms Get More M&A Work
- Corporate Counsel: In M&A Work, Big Gains for Second-Largest Firms
- Law360: 2nd-Largest Tier Firms Nabbed Half Of M&A Billables In 2013
- Inside Counsel: ‘Second Largest’ firms getting lion’s share of M&A work
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