Articles Posted in Negotiating w/ Your Law Firms

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The Point

Demand for large law firm services, after recovery from 2020’s Covid-induced setbacks to the economy, led to eye-popping rate rises in 2021, and record revenues for the firms.

Whatever market forces caused those rate increases and record revenues, they look like they may well be on the wane in Q42022. Large law firms’ recent, verifiable behavior reflects this.

Client companies should not hesitate to negotiate robustly with their law firms on rates. Beyond that, they should negotiate alternative fee arrangements based on mutually agreed value determined in advance of the work performed — not based on attorneys’ hours. Continue reading

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