Companies Expect More Litigation, Less Spending in 2014

money

 

http://www.law.com/corporatecounsel/PubArticleCC.jsp?id=1202618917112&Companies_Expect_More_Litigation_Less_Spending_in_2014

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.”

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s