How The Recession Shaped Law Firm Billing

Law360, New York (October 11, 2017, 10:11 AM EDT) -- The relationship between law firms and their corporate clients shifted substantially with the onset of the Great Recession in 2007, and a decade later many of those changes appear to be here to stay.

Before the recession hit, there hadn’t been a great deal of focus across the corporate world on the costs incurred by legal departments, but following the collapse of Lehman Brothers in 2008 there was a sea change. There were numerous efforts on the part of individual corporate clients to rein in spending on legal and get more more bang for the buck, and in 2008 the Association...

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