Management: The price is right?
Law firms are under threat from professional purchasers - buyers who negotiate contracts purely on the basis of price with no regard for the traditional relationships between firms and clients. Camilla Hughes-Hunt says it is time for firms to fight back
You know them. Enron, Merrill Lynch, Arthur Andersen. And how could you forget Martha Stewart? They are all clients that realised the importance of legal spend and put forth the money to secure first-rate legal counsel. While the typical global company’s total bought-out spend is in the range of 60%-70%, the spend on legal services can be up to 15% of this.
This premium content is reserved for
Legal Week Subscribers.
Subscribe today and get 10% off.
A PREMIUM SUBSCRIPTION PROVIDES:
- Trusted insight, news and analysis from the UK and across the globe
- Connections to senior business lawyers within the leading law firms and legal departments
- Unique access to ALM's unrivalled, market-leading reporting in the US and Asia and cutting-edge research, including Legal Week's UK Top 50 and Global 100 rankings
- The Legal Week Daily News Alert, Editor's Highlights, and Breaking News digital newsletters and more, plus a choice of over 70 ALM newsletters
- Optimized access on all of your devices: desktop, tablet and mobile
- Complete access to the site's full archive of more than 56,000 articles
Already have an account? Sign In Now
For enterprise-wide or corporate enquiries, please contact Paul Reeves on Preeves@alm.com or call on +44 (0) 203 875 0651