The stress of doing more with less isn’t just a reality for in-house counsel. In a changing industry, where legal operations and budgeting teams have put value and pricing center stage, firm lawyers who used to count on steadily increasing rates each year are now forced to adapt to new pricing strategies.
While in-house and outside counsel negotiating fees are usually seeking a win-win situation, both sides are smart to come to the table prepared with data and proof of value to give them leverage. Some legal departments have created pricing teams focused on the issue, including oil and gas company Royal Dutch Shell.
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