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Tag Archives: legal spend

Infographic: Update to the Legal Industry Scorecard

A Legal Industry Scorecard

Twice a year the CounselLink team analyzes big data looking for trends in the legal market.  In addition to the macro legal spending trends – that is high-level findings in the Enterprise Legal Management Trends Report – published recently, the team also looks at a set of six key metrics. Those metrics are rendered in the form of a “scorecard” ... Read More »

Legal Spend Trend: Big Law Winning More IP Litigation Work

CounselLink-ELM-Trends-Litigation-market-share-bolb

A new edition of the CounselLink Enterprise Legal Management Trends Report finds the largest of law firms – those with 750 or more attorneys – are winning market share in highly competitive IP litigation work.  An announcement published online notes: The largest firms are winning a growing share of market in IP litigation – from 36% in 2011 to 61% ... Read More »

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 »

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 »

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 »

LexisNexis Webinar: Outside Counsel Spending Trends

AFAs by practice area

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 ... Read More »

How Corporate Legal Can Implement AFAs without FUD

AFAs Matters by Industry

Alternative fee arrangements (AFA) sometimes invoked FUD – or fear, uncertainty and doubt. There’s always risk in trying something new or different, however, we have in among our corporate legal department clients a sizable volume that have found success. Recently, our own Brandi Gunn presented a very compelling, clear and concise webinar that presented the fundamentals of AFAs.  The slides ... Read More »

3 Tips for more Effectively Managing Legal Spending

3 Tips for more Effectively Managing Legal Spending

The general counsel needed a report. The corporate legal department had spent more than $20 million on external legal fees in the previous year, and he needed to know how much of that was spent specifically on litigation, where it was spent, and why. He tasked Mary Stich with generating a report which would allow him to identify areas to ... Read More »

Infographic Friday: Billing Rates Up 4%, But So Are Discounts

law-firm-differentiation-means-rate-pressure

Note:  The following is a guest post by Larry Bodine; the infographic, as customary with our Friday Share series, follows below.  Law firm billing rates are up in all firm sizes – especially at “top of the market” megafirms – but then, so are discounts, according to a pair of influential surveys of the legal profession. Fees at megafims have ... Read More »

BTI Consulting: US legal market exceeds $100 billion

US legal market exceeds $100 billion

More than 600 people attended BTI Consulting’s webinar titled “BTI Market Outlook and Client Service Review” according to Michael B. Rynowecer, the consulting firm’s president and CEO.  Both the slides and a recording of the webinar are provided below.  It’s easy to understand why: the webinar, which ran about 90 minutes, was filled with metrics and data about the legal ... Read More »