GCs push to shed hourly rates

July, 30 2014

Alternative fees are firmly on the agenda for corporate legal departments.

Companies are asking law firms to provide alternative billing Deny Prykhodor

Some 58 per cent of general counsel in the Fortune 1000 are requiring their external legal teams to offer alternative fee arrangements rather than relying on hourly fees. In its latest piece of research, Consero has also found that 84 per cent of general counsel have not increased their use of outside lawyers over the last year. The survey is based on the 57 general counsel who replied. Source: Bloomberg.