Posted by: johnocunningham | December 17, 2014

In-House Legal Chiefs Weigh In On Legal Services

Legal service consulting firm Altman Weil recently released the results of its 15th annual Chief Legal Officer Survey showing that law firms must cope with increasing competitive pressure, not only from other firms, but from expanding in-house staff.

More than 40 percent of the nearly 200 respondents indicated that they were cutting costs by shifting work from outside counsel to in-house staff while 36 percent reported shifting work to more competitive law firms who produced results at lower costs.

Roughly two of three in-house legal chiefs reported that they were cutting costs inside by investing in technology tools for greater efficiency, a move that outside counsel would be wise to imitate if they want to compete for what is left of a shrinking pie.

The good news for lawyers in private practice? Just four percent of respondents indicated they are happy with the results of the traditional legal service delivery model, and that leaves a whole lot of room for improvement and nowhere to go but up.

 

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