‘More in-house cutting firms loose: study
Report also shows a move away from top ‘prestige’ providers
By Jennifer Brown, September 16, 2013
More general counsel decided to cut ties with their external law firms this year compared to 2012, highlighting price and budget reduction among the top reasons.
In fact, one-third of the world’s largest companies dropped a law firm in the last year, up from 30 per cent last year, according to U.K.-based legal market researcher Acritas in its report “Winning and Losing Business: Clients’ Candid Views on Why They Hire and Fire Their Law Firms.”
The study also illustrates a shift away from top “prestige” providers with three of the top four most-fired firms being “market-leading, premium global practices.”
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