Three Not So Simple Rules for Law Departments Serious About Controlling Costs

Controlling Costs

The pressures of corporate streamlining, increased compliance regulation and shrinking budgets have forced law department managers to become more agressive in controlling legal costs.  Over the last five to seven years, the objective of chief legal officers has been to cut costs while maintaining high standards of quality legal work.  Law departments have become more aggressive in analyzing internal and external costs.  Altman Weil's 2003 Law Department Management Benchmarks Survey report that the average total law department spending as a percentage of sales revenue increased from 0.40% to 0.50% within the last three years.  As law department costs increase, the pressure to reduce costs increases as well.

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