Friday, February 09, 2007 8:11 AM
In another sign that it might make good business sense to look at 'outsourcing' as an opportunity rather than something to fear, Tom Kane at the Legal Marketing Blog noted that the recently released BTI Survey Also Projects Increased Work for Outside Law Firms. By my reading, the conclusion being drawn is that corporations are looking to outsource more of their legal work from internal resources to external lawyers.
In Mr. Kane's post, which apparently has some earlier companion posts you can also find at his blawg, he pulled a couple of interesting notes from his review of some new reports
From the Association of Corporate Counsel: One of the highlights of that survey was that 25% of the CLOs reported that they “plan to increase the use of (outside) law firms in 2007.
From the The BTI Consulting Group: The survey reports on the projected growth in outside law firm spending for 2007 in 16 practice areas and 18 industries.
Here is a sampling of the growth areas BTI and Mr. Kane's blawg noted, click any of the links above for the full story direct from them:
Class Actions – 19.2% Regulatory – 18.1% Bet-the-Company – 16.7% IP Litigation – 12.5% Securities – 11.8% M&A – 11.2% Litigation – 10.1%