The largest law firms in the country are losing market share to slightly smaller competitors as a result of fee pressure and a desire by corporate counsel to consolidate their outside legal representation. That was the conclusion drawn by LexisNexis Group after examining electronic billing invoices and records from corporations and businesses that use its CounselLink software.
In a report published Monday, (registration required), LexisNexis found that law firms with more than 750 lawyers were losing business to law firms with 201 to 500 lawyers. The report, which dubbed law firms with anywhere between 201 to 500 lawyers as “large enough” firms, found that these firms were more flexible about pricing and more receptive to setting up alternative fee arrangements for clients.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
