The Commerce and Industry (C&I) Group is set to embark on an ambitious benchmarking survey of its membership as part of a bid to create a comprehensive picture of how commercial firms bill their clients.

The first stage will see a survey sent out to 2,000 corporate counsel in the London area in the coming weeks to ask them about billing arrangements with outside counsel.

The venture aims to draw up best practice guidance for corporate counsel based on one of the most detailed breakdowns of billing practices and charge-out rates yet attempted in the UK. It is also expected to highlight innovative or unusual billing practices.