Firms win qualified thumbs-up
Legal Week reports
October 03, 2001 at 08:03 PM
2 minute read
Corporate clients are overwhelmingly satisfied with their legal advisers, despite widespread concern about the value and level of fees charged by leading commercial firms.
The Benchmarker survey, in association with Pinsent Curtis Biddle and published this month by Legal Week's sister magazine Legal Director, found 96% of respondents declaring themselves 'quite' or 'very satisfied' with their primary external law firm.
Performance ratings in all fields are substantially improved on the last Benchmarker survey into client satisfaction, conducted in April 2000.
The figures reflect the views of 101 in-house legal advisers to companies with an average annual turnover of £2.4bn. Two-thirds of respondents had the main or sole responsibility for appointing external legal counsel.
When selecting a new firm, most respondents put expertise and sector experience above concerns such as value for money, leadership and strength in client service.
Eight out of 10 in-house lawyers identify sector experience as the deciding factor when appointing a new law firm, compared with 53% who mentioned cost-effectiveness, 42% who valued reputation and 11% who favoured management skills.
Despite the endorsement from external firms, the survey found widespread dissatisfaction over fees, with more than half either citing high fees or lack of transparency as a major concern.
The survey also found company lawyers outside financial services remain ambivalent about their advisers' international expansion.
Only 36% of respondents said they agreed that their primary law firm should be able to fulfil their needs across the EU, with 40% of respondents disagreeing.
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