An article appearing on law.com on the corporate counsel webpage, written by Lisa Shuchman. The article goes on to discuss spending trends, and predicts that there will be an increase in litigation but that spending for litigation support services will remain static, since corporations have become more cost-efficient in how they approach litigation.
The article states, “spending will not rise. With litigation making up the largest part of most medium-size and small companies’ legal spending—accounting for 38-41 percent of a typical corporate legal budget—companies have been attacking litigation costs with a vengeance. There is now more widespread use of early case assessment (ECA), alternative fee arrangements, budget enforcement, alternative staffing, and a focus on settlements, according to Michael Rynowecer, president of BTI.
“Corporate counsel are now better at disposing of matters,” Rynowecer told CorpCounsel.com. “They evaluate faster, do triage faster, and settle cases faster.
One exception, the study noted, is in the area of intellectual property, which remains one of the fastest-growing practices in the legal market. Legal spending for IP-related work is projected to grow 2.8 percent, according to the study.”