There is no question that the worst recession for 80 years has had a major impact on the legal sector. General counsel are under pressure to deliver more for less. In turn, they are demanding reduced costs and greater value from their legal advisers. They demand accountability when it comes to how their budgets are being spent and more imagination when it comes to fee structures.
For law firms this has meant facing up to challenge and change. Whilst some are holding fast, hoping that the boom times will return soon, the smarter ones are adapting for the longer term.
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