A primary duty of most in-house counsel is managing the work that is performed by outside counsel. Much attention is devoted to controlling the fees and expenses in legal bills. Electronic billing systems have been widely adopted by in-house counsel to monitor spending, track budgets and enforce client billing guidelines.

When major projects are completed, however, in-house counsel often miss even greater opportunities for savings. They don’t take the time to analyze the outcome, including settlements, awards and other amounts paid or received. And yet those numbers often turn out to be much larger than legal fees. Some law departments have found that they can significantly reduce spending by focusing on their results: They can improve the handling of future work, provide more work to outside counsel who deliver the best results, structure alternative fees that reward efficiency, and change business practices to reduce future litigation.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

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]