Business analyses — and decisions to which they can lead — are no better than the data on which they are based.
Part I of this two-part series considers the tiny minority of legal matters priced to client companies on a basis other than attorney hours (a reported 16.8%), and then asks if more resolute negotiation by the corporate law function might wean outside counsel from hourly billing. LexisNexis / CounselLink, source of the 2021 report and that 16.8% number, is a superlative provider of data concerning legal services delivery.
But data about legal services delivery are usually of less precision and less transparency than, for instance, data on which audited financials are based. In particular, two flaws in the empirical findings behind the “16.8%” figure limit that report’s utility for understanding the true extent of AFA’s in U.S. legal practice. Continue reading