CLOs Want Firms To Change Fee Structures

Law360, New York (April 27, 2009, 12:00 AM EDT) -- With the recession taking a toll on in-house legal departments, chief legal officers at U.S. companies are cutting back on hiring and would like outside counsel to increase their use of alternative fee arrangements, a new survey has found.

Among the 619 chief legal officers or general counsel that responded to the survey by the Association of Corporate Counsel, use of alternative fees, fixed fees or discounted rates was the No. 1 response to the question of what outside counsel could do to improve relations with...
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