Most In-House Lawyers Surveyed Expect to Reduce Outside Law Firms
Most on the in-house lawyers at large companies responding to an informal survey say they expect to cut back on the number of outside law firms they use over the next five years.
About 57 percent of in-house counsel at companies with revenues of at least $1 billion said they plan to reduce their number of outside law firms, the American Lawyer reports. The survey was posted on Legal OnRamp, a professional networking site. Eight-four responses came from lawyers at companies earning $1 billion or more, although some questions garnered fewer responses.
Forty-two percent projected that at least 10 percent of their total spending on outside counsel will shift toward some form of value billing, such as discounted or flat fees. Thirty percent expected a spending shift of 6 percent to 10 percent.
Another trend identified by the survey is telecommuting. Nearly 60 percent said they expect telecommuting in their department to increase over the next five years.
Topics: Career & Practice
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