While the rest of America is still feeling the squeeze of a tough economy, corporate law departments loosened their belts a couple more notches this year. According to Altman Weil, Inc.’s 2011 Chief Legal Officer Survey [PDF], law departments boosted their budgets for both in-house and outside counsel spend.
Fifty-six percent of CLOs said they had increased their internal budgets from 2010 to 2011, compared to 51 percent the previous year. The median increase also ticked up from 6 percent to 7. Forty-six percent of respondents increased outside counsel expenditures, up from 43 percent a year earlier.
