The scales continue to shift in favor of in-house spending at corporate legal departments, which are no longer setting aside the biggest chunks of their budgets to pay law firms and outside counsel, according to new findings from the Association of Corporate Counsel and Major, Lindsey & Africa.
The groups’ latest legal benchmarking report released Tuesday revealed that 54% of legal department spending is staying in-house, up from 49% in last year’s survey. The median total legal spend this year was $2.4 million, down from $3 million last year.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]