Sentences with phrase «outside counsel fees»

It's important to know how much your legal department has spent or has reserved to spend on outside counsel fees, litigation costs and other expenses related to risk management.

Many corporate legal departments are seeking to better leverage technology to reduce e-discovery costs, control outside counsel fees, reduce risk and get useful reporting on discovery metrics and case progress.

This may come directly through outside counsel fees and litigation expenses or indirectly through the cost of maintaining an in - house legal department or attending to legal matters.

Larger corporate legal departments, particularly those seeking to reduce outside counsel fees (which can range in the millions annually), perform almost all of the substantive legal work in - house.

A decade ago outside counsel fees gained a high degree of scrutiny.

Key Metric # 2: Law Firm Consolidation — Number of Legal Vendors Used by Corporations 55 % of companies in the data pool have 10 firms or fewer accounting for at least 80 % of outside counsel fees Based on trailing 12 - months ending June 30, 2015

Figure 6: Enterprise Legal Management Trends Report Key Metric # 2: 57 % of companies in the data pool have 10 firms or fewer accounting for at least 80 % of outside counsel fees Based on trailing 12 - months ending June 30, 2013

For example, 57 percent of companies with significant litigation in 2015 (at least one matter with a minimum of $ 100k in outside counsel fees) brought in a new law firm.

Corporate law departments report that they are re-negotiating outside counsel fees, shifting work to lower - priced law firms, increasing in - house capacity, opting for alternative service providers and using new technology — all to develop a more cost - effective legal services model.

Figure 2: Enterprise Legal Management Trends Report Macro Trend: M&A matter outside counsel fees more than double since 2012 Based on rolling 12 - month totals ending December 31 for years 2011 to 2015

For example, one lawyer advised that although the legal team spent $ 200,000 - $ 300,000 for searching, processing, hosting, and filtering data, it could not quantify what it spent on outside counsel fees for review.

Skyrocketing outside counsel fees, budget constraints, and technology - / data - driven solutions are prompting companies to handle a greater amount of legal work.

The shift is even more dramatic in higher fee legal work: ««Large Enough» firms have almost doubled the share of high fee litigation matters — those matters generating outside counsel fees totaling $ 1 million or more (High Fee Work).

Computer programs exist for almost every corporate function, including filing trademarks and patents, tracking directors» stock holdings, preparing budgets, tracking subsidiary data, creating organizational charts and monitoring outside counsel fees.

With general counsel becoming increasingly savvy in managing outside counsel fees, it is not surprising that many are turning to highly credible firms with lower hourly rates to handle even their most mission critical transactions.

«Unintended results of instant messaging: the evidence of presence Main Speed time to resolution (lower cycle time) and shave outside counsel fees»

Forward - thinking corporate legal departments are seeking to better leverage technology to reduce e-discovery costs, control outside counsel fees, reduce risk and get real - time information on discovery metrics and case progress... Continue Reading

Key Metric # 2: Law Firm Consolidation — Number of Legal Vendors Used by Corporations 54 % of companies in the data pool have 10 firms or fewer accounting for at least 80 % of outside counsel fees Based on trailing 12 - months ending December 31, 2013

Key Metric # 2: Law Firm Consolidation — Number of Legal Vendors Used by Corporations 51 % of companies in the data pool have 10 firms or fewer accounting for at least 80 % of outside counsel fees Based on trailing 12 months ending December 31, 2014

Corporate law departments report that they are re-negotiating outside counsel fees, shifting work to lower - priced law firms, increasing in - house capacity, opting for alternative service providers and using new technology — all to... [more]

The report defines «significant work» as work with at least one matter with a minimum of $ 100k in outside counsel fees.

«The business community, spurred by the events of 2008 - 2009, is trying to hold the line on outside counsel fees.

Outside counsel fees spent on M&A transactions in 2014 and 2015 were more than twice the fees reported in 2012.

Corporate law departments participating in the study spent the highest percentage of outside counsel fees on litigation (37 %), followed by intellectual property (15 %) and then mergers and acquisitions (12 %).

But I believe that his record at FMC Technologies — reducing total legal budget (outside counsel fees plus in - house spending) from $ 14.3 million annually in 2003 down to $ 9.5 million in 2013 while FMC Technologies» revenues grew 4X — reflects his P&L skills as much as his legal erudition.

As general counsel of FMC Technologies he took the total legal budget (outside counsel fees plus in - house spending) from $ 14.3 million annually in 2003 down to $ 9.5 million in 2013 — while the company's revenues grew 4X (see post here).

Forward - thinking corporate legal departments are seeking to better leverage technology to reduce e-discovery costs, control outside counsel fees, reduce risk and get real - time information on discovery metrics and case progress.

Areas that should be looked at from an in - house perspective are: conflict of interest, privilege, and outside counsel fees.

We say to general counsel, Neota Logic enables you to reduce risks and improve outcomes without increasing headcount or outside counsel fees.