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BTI Consulting:  Areas of Opportunity for Law Firms

BTI Consulting Areas of Opportunity for Law Firms

Note:  The following is a guest post from Cindy Fox, director of product marketing with LexisNexis CounselLink. BTI Consulting recently shared its Market Outlook and Client Service Review for 2015 in a webinar. During the hour long presentation, researchers walked attendees through what they see as shifting trends in the global legal market space. Even though the outlook is more optimistic this ... Read More »

LexisNexis Adds New Software Execs in Raleigh; Seeks Two More  

LexisNexis Adds Two New Software Execs in Raleigh

The LexisNexis software division added two new executives to the leadership team and it is looking to add two more VPs – along with the some 70 positions currently open. As an announcement published to PRWeb this morning noted: Mark Huebeler has joined the software division as the unit’s chief financial officer (CFO) and Alex Withers joined as vice president of Marketing. The ... Read More »

Why the Billable Hour Persists

Why the Billable Hour Persists

The UK-based Legal Futures published a story today with an eye catching headline that we’ve observed making some rounds in industry newsletters and social media: Exclusive: in-house lawyers complain about firms failing to offer pricing options. The story is based on survey of 50 large law firms and 40 in-house legal teams which found: The vast majority, 93%, of law ... Read More »

Friday Share:  LexisNexis Software and a Sign of the Times

LexisNexis Raleigh NC

While we completed the office relocation to NC State’s Centennial Campus last summer, just yesterday we got our sign.  Literally…we got a big sign on our new building, as the photo nearby illustrates. To commemorate the occasion, we’re forgoing legal infographics and YouTube videos that are normally found in the Friday Share series for a humble brag today.  And we’ll ... Read More »

What Size is the Addressable US Legal Market?

how big is the US legal market

We know the legal market is large but just how large, is largely dependent, on the parameters in use. In the US, the venerable BTI Consulting puts that number at more than $100 billion.  Richard Granat, in a presentation about the latent market for legal services, says it’s roughly $145 billion.  In an article on his Legal Transformation Institute website ... Read More »

How Buyers Seek Out Small Law Firms and Determine Expertise

How Buyers Seek Out Small Law Firms and Determine Expertise

Note:  The following is a guest post by Lee Frederiksen a managing partner at Hinge Marketing. Understanding how buyers check out your law firm is an important element of creating the right messaging and marketing strategy required for growth and profitability. The more you know about your prospects’ purchasing behaviors and preferences, the more you can cater your moves to ... Read More »

Research: GC Reassign Litigation Work to Innovative Law Firms

General Counsel Reassigning Litigation Work to Innovative Law Firms

Note: The following is a guest post from Daryn Teague, who provides support to the litigation software product line within the LexisNexis software division. Each year, BTI Consulting Group surveys more than 300 general counsel at major American corporations and publishes its annual BTI Litigation Outlook report. There are five top litigation market drivers for 2015, according to BTI: 1. ... Read More »

5 Essential Practice Management Reports for Small Law Firms  

5 Essential Practice Management Reports for Small Law Firms

A recent survey of 309 small law firm billing practices in the U.S. found that about 80% use software for legal billing. That’s great news and as a legal technology vendor we are, unsurprisingly, big advocates of using software. About 67% – still a wide majority – say this software is “legal specific software” meaning it was designed for law ... Read More »

Infographic Friday:  6 Key Questions about BYOD

Infographic Friday 6 Key Questions about BYOD - header

BYOD, or bring your own device, is a hot issue in legal circles.  For corporate counsel, BYOD carries inherent risks.  For law firms, BYOD is yet another aspect of technology that contributing to “soft target” perception, and may be a contributing factor that some market watchers predicting a major breach in 2015. To be sure, there are strong and often ... Read More »

Law Firm Bill Rates Rising?  Update on Key Legal Spend Metrics

Enterprise Legal Management Trends Webinar-header

Are law firm bill rates rising?  The data suggests they are but, there’s a caveat, which we detail below in a brief summary of the latest CounselLink Enterprise Legal Management Trends report. It is important to note that this data is not based on survey information but rather based on actual invoices.  It is derived from nearly $17 billion in ... Read More »