Pushing back against outside firms’ rate hikes starts with data

Data can help legal teams show outside firms they’re asking for too much money, billing specialists say.

By Robert Freedman • Nov. 29, 2023

Law firms raised rates 6.3% in Q3, report finds

Demand also ticked up slightly and firms reduced associate hiring to slow expense growth, according to the Thomson Reuters Institute.

By Lyle Moran • Nov. 22, 2023

66% of legal teams are bringing more work in-house

Meanwhile, one in four legal departments expect to decrease the number of law firms they use, a report from ACC and Everlaw found.

By Lyle Moran • Nov. 21, 2023

How AI can level the playing field among law firms

AI will undoubtedly help to erode the competitive barriers that have long entrenched big law firms at the top.

By Richard Robinson • Nov. 17, 2023

60% of in-house counsel expect law firms to use generative AI

Most corporate lawyers want to know if their outside firms are using tools such as ChatGPT and they want some say in the matter, according to a LexisNexis survey.

By Lyle Moran • Aug. 25, 2023

Rate hikes, demand growth boosted law firm profits in Q2

The 5.9% rise in rates year-over-year outpaced the torrid start to 2023. Additionally, countercyclical practice areas such as bankruptcy saw strong demand, according to Thomson Reuters.

By Lyle Moran • Aug. 15, 2023

How AI can help with legal spend management

Legal departments can use emerging AI-powered technology to determine what is a reasonable amount of time for outside counsel to spend on certain tasks. 

By Lyle Moran • Aug. 9, 2023

Leading law firms shift to handling more transactional work

The strongest performing firms have also seen litigation make up a declining share of their overall practices, a Thomson Reuters report found.

By Lyle Moran • July 13, 2023

Most legal departments use discounted hourly rates, survey finds

Capped fees and blended hourly rates are less common, though larger in-house teams more frequently deploy a variety of billing approaches.

By Lyle Moran • July 11, 2023

Is AI a friend or foe for legal teams?

Corporate legal departments and law firms can adopt best practices to manage the inherent risk of AI in legal work and get the most benefit from this incendiary technology.

By Shana Simmons • June 28, 2023

Economics factor into litigation decisions, GCs say

Even meritorious cases won’t be pursued if a company is clinging to cash, paving the way for risk-sharing by outside law firms or litigation funders, a general counsel survey finds.

By Robert Freedman • June 26, 2023

Companies’ legal spend has risen nearly 30%, survey finds

The largest businesses have spurred the significant spending uptick, which experts said was driven in part by increased regulation and law firm rate hikes.

By Lyle Moran • June 16, 2023

Companies hit back by trying to unmask patent troll funders

Defendants such as Shopify try to use discovery to hammer plaintiffs who rely on financial backers to drive patent infringement lawsuits.

By Robert Freedman • June 13, 2023

Don’t let outside counsel fee discussions veer into unauthorized practice of law, ABA says

Law firm assistants can talk about fees generally but not when they’re tied specifically to the scope of work, an American Bar Association opinion says.

By Robert Freedman • June 12, 2023

FTX’s legal team has its hands full

The bankrupt crypto exchange is fighting court battles on multiple fronts, and former CEO Sam Bankman-Fried’s attorneys say the U.S. government is overdue to supply electronic discovery in its case against him.

By Gabrielle Saulsbery • June 8, 2023

Mayer Brown has launched a Technology GC in Residence program

Experienced legal chief Beth Stevens said she had a very positive and educational experience as the inaugural participant in the law firm’s new initiative.

By Lyle Moran • June 7, 2023

How to seek discounts on outside counsel fees

Negotiating rate freezes and exercising billing discipline are other approaches legal operations pros can take in hopes of reducing legal spend.

By Robert Freedman • June 5, 2023

‘Wave’ of litigation expected as schools fight social media companies

Districts are joining a complaint against Meta, Snapchat, TikTok and YouTube, but some doubt the firms can be blamed for teens’ mental health struggles.

By Kara Arundel • June 1, 2023

Federal judge seeks to prevent generative AI mistakes in briefs

The Texas jurist’s mandatory certification regarding AI use highlights that the latest technology can “make stuff up” and introduce bias.

By Lyle Moran • June 1, 2023

M&A deals require largest outside counsel teams

Law firm work on commercial, employment and IP matters typically results in fewer billing attorneys comparatively, a LexisNexis report found.

By Lyle Moran • May 26, 2023

Largest law firms claimed nearly 50% of U.S. legal work in 2022

Partners at the 50 top firms charged more than $900 an hour on average, as rates rose across all firm sizes and practice areas.

By Lyle Moran • May 24, 2023

Louisiana bill would require litigation funding disclosure

If passed, Louisiana would join New Jersey and Wisconsin in targeting the growing use of outside funding.

By Robert Freedman • May 24, 2023

Generating outside counsel savings from disallowed costs

Billing discipline can drop as law firms work on long-term engagements. Using a billing tool with clear guidelines can get that discipline back on track.

By Robert Freedman • May 17, 2023

Using litigation funding for ESG credit

In-house legal teams are tapping Burford Capital’s Equity Project to finance legal matters and at the same time help their company get ESG credit.

By Robert Freedman • May 14, 2023

Partner eyes smarter GC engagement now that he’s been one himself

Winston & Strawn’s Dane Drobny, who oversaw legal at Sears and Groupon, says he has new ideas about what GCs should expect from outside counsel.

By Robert Freedman • May 11, 2023