Companies have been attacking litigation costs with a vengeance since 2010.
Wellesley, MA (PRWEB) September 10, 2013
New litigation matters are set to surge, with 60.7% of corporate counsel at the world’s largest companies predicting an increase in the number of new matters they will see in 2014, according to new research by The BTI Consulting Group. Corporate counsel expect the number of new matters to be nearly double 2013 levels. With litigation spending remaining virtually unchanged for the 3rd straight year, corporate counsel express their highest confidence ever in their ability to control legal costs.
Corporate counsel expect the biggest surges in:
- Regulatory
- Labor
- Class Actions
- Securities-related Litigation
- IP Litigation
Research shows corporate counsel are increasingly focusing their attention on measures such as early case assessment (ECA), alternative fees, budget enforcement, alternative staffing and settlements to manage litigation costs and control for the anticipated surge in matters.
“Companies have been attacking litigation costs with a vengeance since 2010,” comments Michael B. Rynowecer, President of BTI. Clients will be looking to assess and triage new matters. Continues Rynowecer, “Corporate counsel will look to law firms to help with the triage.”
BTI conducted 300 independent, individual interviews with CLOs and General Counsel at Fortune 1000 companies and large organizations this year. Now in its 13th year, BTI conducts the only continuous benchmarking market study of corporate counsel worldwide. The complete analysis is available in BTI’s new study, BTI Litigation Outlook: Changes, Trends and Opportunities for Law Firms, found here: http://www.bticonsulting.com/litigationoutlook.
Find more information about this and other compelling research at http://www.bticonsulting.com or contact BTI at 617.439.0333. BTI is the undisputed leader in providing high-impact strategic client research to professional service firms and their clients.