This report is based on interviews with more than 1,500 in-house lawyers and professionals through 2022, and here are a few note-worthy highlights:
- Sixty-five percent (65%) of corporate legal departments report more matter volume, while fifty-nine percent (59%) say they are working with flat or declining budgets.
- Regulatory compliance has emerged as the top concern for corporate legal departments.
- In search of better value and service, work is being shifted among outside firms. We believe that this presents a big opportunity for smaller and midsize firms, which typically offer a much better value proposition than BigLaw.
This a good report to digest if your firm works (or strives to work) with larger corporations and in-house legal departments.