Legal Spending to drop by nearly a fifth in second half of 2009
Acritas, a leading provider of specialist research programmes to the professional, financial and public service sectors in the UK, Europe and the USA has in a recent survey predicted that legal spending is set to fall by nearly a fifth, in the second half of 2009, in Birmingham.
The practices to be hit the most are corporate finance and property legal services, while the most buoyant area is litigation followed by employment and regulation.
Acritas said that about 60% of corporate counsels expect a change in their legal strategy. A quarter of lawyers expect a discount on rates while another quarter of them propose to move to a fixed price model.
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