Cos. Paid Law Firms Higher Hourly Rate In 2013

Law360, New York (March 25, 2014, 7:08 PM EDT) -- Corporations paid for fewer work hours from outside counsel last year, but ponied up more overall per hour, according to an analysis of firm billing by TyMetrix.

Total hours paid to law firms from corporate clients between 2012 and 2013 were down by 1.3 percent, and per-hour fees rose a similarly modest 1.6 percent, according to data compiled for TyMetrix’s LegalView Legal Market Index.

The data also showed a 3.1 percent increase in work hours going to the second 100 firms by size, with top 100...
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