During the past few months general counsel with good memories will no doubt have cast their minds back to the time of the downturn in the early1990s when a number of in-house departments were outsourced as an unnecessary cost to the business.
Most would argue that this mass outsourcing is not going to happen this time around. In-house departments are now recognised as adding value to the businesses they advise and, in any event, the argument runs, law firms – particularly City firms – have priced themselves out of the market.
