The Lawyer’s new China Elite report contains the most detailed research available on the PRC legal market and contains unparalleled insight into the country's leading law firms. They vary in size, practice focus and geographic coverage, but they all share one common quality – ambition... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
An astonishing 67 per cent of in-house counsel believe that hourly rates are outdated, according to the latest findings from The Lawyer’s groundbreaking survey of the legal profession, compiled by polling company YouGov.
The solution, according to 68 per cent of in-house lawyers polled by YouGov, is project-based billing.
AOL Europe general counsel Tony Wales told The Lawyer: “Most general counsel would like to move to project-based billing.
With this approach you can give your finance director a more useful and accurate projection of anticipated legal spend.”
The survey also revealed that 69 per cent of in-house counsel have experienced law firms padding their bills. An overwhelming 95 per cent of in-housers who expressed an opinion agreed that chargeable hours targets encourage padding.