Law Firms Lose Out On Billions As GCs Take Work In-House

By Andrew Strickler (June 20, 2013, 6:20 PM EDT) -- Billions of corporate America's dollars were diverted from law firms to internal company budgets last year, according to survey data released Thursday, an indicator that corporate leaders feel the money is better spent at home by their own lawyers. 

According to interviews conducted by Wellesley, Mass.-based The BTI Consulting Group, about $5.8 billion in outside legal-spend dollars were moved off budgets for outside counsel and placed on internal legal budgets between 2011 and last year.

The significant shift is partly to blame for an anemic projected growth of 1.8 percent this year in outside counsel spending, BTI President Michael Rynowecer told...

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