According to a recent survey by LexisNexis, 42 percent of law firms have seen an increase in requests for proposal from in-house law departments this year. The increased pressure to compete for corporate business is putting added strain on firms. (Note: Corporate Counsel’s parent company, ALM, is a business partner of LexisNexis.)
The LexisNexis RFP Activity Survey [PDF] was conducted between July 23 and August 3 of this year. The majority of respondents had at least some responsibility for developing business for the firm. But of the survey’s 359 total participants, 41 percent could not quantify the level of RFP activity at their firm. The findings are based on answers from the remaining 213 respondents from 185 different law firms.
