New research: boutique law firms may have an edge with larger clients
A new survey survey reveals that business leaders at large companies, frustrated with high law firm fees, are turning to SMEs and specialized providers.
The Economist Intelligence Unit surveyed 100 senior business leaders with responsibility for spend on outside legal counsel at multinational companies with annual revenues of over $1 billion in the US, UK and Europe. The research sought to better understand their relationships with external law firms. Read the full report to learn about trends in legal spend and forward-looking priorities for leading legal departments around the world.
"With the pressures on budgets, those relationships [with existing service providers] come under a lot of pressure… Part of the job of in-house counsel is to get the best value for money spent. The big law firms don’t seem to realise that they're charging an enormous amount of money for work that other people can provide for a lot cheaper."
-Michael Ellis, group general counsel at Abercrombie & Kent