DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/93r5jc/2014_corporate) has announced the addition of the "2014 Corporate Counsel Legal Services Pricing Guide" report to their offering.
The 2014 Corporate Counsel Legal Services Pricing Guide is a critical resource for companies with large annual legal spends in determining the optimal pricing arrangements with their Outside Counsel, in hourly rates or alternative fee arrangements.
Corporate counsel use the report to determine the 'going rate' for specific firms (over 600 including the AMLAW 200 + 400 Others in the US, Canada, UK, Europe, Asia and South America) attorneys, practice areas (80 practice areas are detailed), cities (300 globally), negotiate annual and multi-year agreements with their outside counsel and verify that they are receiving the best pricing relative to the overall market.
As the summary tables and analyses will show, large law Firms (AMLAW 1 - 100) have the continued ability to raise their prices and keep their rates at a premium. Smaller firms, especially ones smaller than the AMLAW 200, have less price control and have actually experienced rate declines in 2012 and 2013, mild recovery years. It is expected that this trend will continue. In addition to the size of the law firm, location and practice areas are also key.
Attorneys in New York, Northern California, London, Chicago and Washington, DC charge more than in other large cities. Additionally, M&A, Tax and IP carry higher priced tags than some other practice areas such as Employment, Insurance and Financial-related Litigation. The latter being somewhat commoditized due to the massive amounts of defense work initiated by the largest financial institutions as a result of suits stemming from the 2008 collapse.
Lastly, as was true in 2012, associates at most firms achieved the highest rate increases. Again, this was due to what we call compensation catch-up, i.e., associates were denied any significant rate increases from 2008 - 2011 and took the hit from the downturn, with several large law firms laying-off 10% or more of that position.
Key Topics Covered
1) Executive Summary
2) Rates and Projections by Annual Firm Revenue Groups (10, 50, 100, 200, 201 - 600)
3) Rates and Projections by Associate Class Years (1 - 8 Years) by Firm Annual Revenue Groups
4) Rates and Projections by Key Practice Areas (Antitrust, Bankruptcy, Corporate, Finance, Insurance, Intellectual Property, Labor & Employment, Litigation, M&A, Real Estate, Securities and Tax
5) Rates and Projections by City
6) Individual Firm Detail Rates and Projections beginning with the Largest Firm by Annual Revenue (DLA Piper) to the smallest
For more information visit http://www.researchandmarkets.com/research/93r5jc/2014_corporate
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