Corporate counsel will outsource more legal work at higher rates in the coming year, and supervise the law firms less closely, issue fewer RFPs and request alternative fees less often, according to projections based on a survey by the Association of Corporate Counsel (ACC) and Serengeti Law.
An Excellent Year for Private Law Firms
Corporate counsel will outsource more legal work at higher rates in the coming year, and supervise the law firms less closely, issue fewer RFPs and request alternative fees less often, according to projections based on a survey by the Association of Corporate Counsel (ACC) and Serengeti Law. The survey shows that the balance of power has swung away from corporations and in favor of private law firms, which will continue to bill by hour and face less convergence,' or consolidation of legal work by a corporation to a small number of firms.
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