Law firm and legal department consultants say general counsel are looking for at least a freeze on billing rates in the coming year. Many are asking for cuts of as much as 15 percent, says Ward Bower of Altman Weil. All this comes against the backdrop of two surveys indicating that law firms are projecting an increase in 2010 hourly rates. "There's an inevitable collision here," Bower says. But how hard will law firms fight? Are they willing to lose client business in order to take a stand on rates?
An Increase in Hourly Rates? Get Ready for a Fight
The American Lawyer
December 3, 2009