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LJN NewslettersNewsSectionsThe Corporate Counselor

2003 Legal Services Spending Assessment

BY ALM Staff
November 19, 2003

Corporate legal departments faced difficult spending decisions in 2003. A stagnant economy put pressure on departments to decrease spending, while the public's sudden interest in corporate governance kept demand for legal services high. In August, The Corporate Counselor and The Center for Marketing Effectiveness (CeME) conducted the 2003 Legal Services Spending Assessment (LSSA). This annual survey of general counsel is conducted in order to determine what influences company spending on outside counsel. This report reviews the results of this exercise and offers insight into how a changing litigation landscape has impacted spending on outside counsel. Based on proprietary LSSA data, the report observes a dramatic shift in the factors that drive general counsel's selection of outside services and a notable lack of effectiveness in law firms' efforts to brand and promote their services.

What Goes Up ' Stays Up

Despite its original application to physics, Isaac Newton's famous law of gravity, 'what goes up, must come down,' is a common adage in business as well. Many markets exhibit analogous behavior: stock markets rise and fall, economies that grow too fast self-correct with periods of contraction and companies with losses in one year will cut expenses to profit in another. But do the same laws apply to the market for the consumption of legal services?

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