GC says that cost of in-house lawyer undercuts paralegals in law firms

The general counsel of multi-national tech company 3M has said that the average hourly cost of using an in-house lawyer is US$211 - below the rate that external lawyers would charge even for the services of a paralegal.

Based in St Paul, Minnesota, Joe Ottersetter was speaking at the Legal Marketing Association conference in San Diego. The comments were made at a session sponsored by LexisNexis and noted by the LexisNexis team.

50-50 split

The Lexis write-up also says: 'Joe Otterstetter, managing counsel at the 3M company noted during the panel that in 2012, roughly two-thirds of the company’s legal spend was on outside counsel (and mostly for litigation).  Today, that split is about half and half.  Indeed, a survey LexisNexis published late last year found that 54% of corporate legal departments plan to bring more work in-house.' Source: LexisNexis

Email your news and story ideas to: news@globallegalpost.com

Top