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Tag Archives: legal industry study

Legal Infographic: What are the Top Corporate Legal Goals?

Legal Infographic What are the Top Corporate Legal Goals - header

Earlier this week we published the results of a new survey of legal departments which found 70% of said this year has been better than the last year.  It also identified existing relationships as the top gauge for evaluating outside counsel.  We’ve taken the data from the survey and developed this infographic, which is this week’s Friday Share. The highlights ... Read More »

10 Telling Statistics from Optimistic Legal Departments

10 Statistics from a New Legal Department Operations Survey

A number of surveys released this year have begun to reveal a sense of optimism within the U.S. legal market.  We’d hasten to add this particular flavor of optimism is better described as cautious. Cautious as it may be, we sought to quantify that optimism.  A new survey found most legal departments think this year has been better than the ... Read More »

In Evaluating Outside Counsel, Corporate Legal says Relationships Still Matter

Evaluating Outside Counsel Corporate Legal says Relationships Still Matter - header

We recently asked corporate legal departments what they thought are the most important evaluation factors in selecting outside counsel. The answer is, as the chart nearby indicates rather resoundingly, relationships still matter. Top Factors for Evaluation Outside Counsel It’s important to note this question was a ranking question where the lower the number the better. When asked to rank a ... Read More »

Trending Legal Spending: Examining the HBR Consulting Study

CounselLink Corporate Counsel Analytics

Around the world corporate legal spending grew by 2% in 2013, according to a new survey by HBR Consulting.  How that money is being spent makes all the difference – inside legal spending grew 5% while spending on outside counsel dropped by 2%. A narrower look at corporate legal spending within the U.S. produced similar results.  The survey found that ... Read More »

Infographic Friday:  Trends Shaping the Legal Industry

legal industry trends

Recently, Robert Half Legal took a focused look at the legal profession in a new study titled Client Dynamics Driving Change in the Legal Profession. The study identifies four key legal industry trends shaping the profession which are: Client service pressures mount General counsel take center stage Mobility gives rise to the virtual law practice, flexible workplace Demand for specialization ... Read More »

Law Firms that Discount have more Past Due Clients 

The Connection between Law Firm Discounts and Past Due Clients

Law firms that discount or write off legal fees prior to invoicing clients, also tend to also have more past due clients. That was one of the most interesting findings from a cross-tab analysis stemming from a law firm billing survey published late last week.  The chart published nearby compares the percentage of past due accounts between law firms that ... Read More »

Law Firm Billing Survey: Collections Conversations Leave Lawyers Uncomfortable

law firm billing survey

For most law firms, past due client accounts are a fact of business.  A new LexisNexis survey of 309 U.S.-based law firms found that more than 73% experience past due accounts.  Yet for many lawyers, asking a client for money they earned is embarrassing, uncomfortable and for some, even “distasteful.” Consider the following comments offered in response to open-ended questions ... Read More »

6 Takeaways from the ILTA/InsideLegal Purchasing Survey

6 Takeaways from the ILTA Inside Legal Purchasing Survey

How is law firm IT spending shaping up so far in 2014?  The new 2014 ILTA/InsideLegal Technology Purchasing Survey provides a useful benchmark. The 9th annual survey, conducted jointly by InsideLegal and ILTA, earned a 20% response rate from member law firms.  A 31-question survey was distributed to 1,407 members and earned 281 responses.  The vast majority (86%) of respondents ... Read More »

Survey Friday:  Fortune 1000 GCs and Cautious Optimism  

Fortune 1000 GCs and Cautious Optimism

No matter the line of business getting things done generally has three key prerequisites:  budget, people and resources. The Consero Group recently conducted a short survey with 57 GCs that included questions along these lines and published this report:  Consero’s 2014 General Counsel Data Survey.   The study is our post for this week’s Friday Share. While the sample size ... Read More »

What are the Going Law Firm Rates by Practice Area?

What are the Going Rates by Law Practice Area

What rates can corporate counsel expect to spend for outside counsel by practice area?  The chart nearby, while complex at first glance, encompasses an enormous amount of data with an at-a-glance view of what the going rates are for legal services by practice area in United States. The data stems from our latest trends report which was released this past ... Read More »