The global companies operating in the US have become a market unto themselves.
Wellesley, MA (PRWEB) October 11, 2013
Global company spending now accounts for 40% of US corporate legal spending, up from 30% in 2010. BTI Consulting Group's research with corporate counsel at the world’s largest companies shows US spending by global companies growing at a compound annual growth rate of 7.2%, while non-global companies’ US legal spending is shrinking at a rate of 2.7%. Global companies are propping up the US corporate legal market, as corporate legal spending by the Global 500 borders on a boom by today’s standards.
“We find global companies are more active in developing markets, building sales channels, and creating and filling product pipelines while investing in infrastructure and talent,” comments Michael B. Rynowecer, President of BTI. “The global companies operating in the US have become a market unto themselves.”
“Global companies show vigorous interest in working with every size and manner of law firm with an especially strong interest in using both mid-sized as well as larger firms in Litigation, Employment, IP, IP Litigation, Regulatory, Corporate and small- and mid-sized M&A,” Rynowecer continues.
The law firms successfully targeting US legal spending by global companies are focusing their pitches to discuss the more unique aspects of global companies, including:
- Foreign Corrupt Practices Act
- Transfer pricing
- Labor-related issues
- Regulatory issues
BTI conducted more than 300 independent, individual interviews with CLOs and General Counsel at Fortune 1000 companies and large organizations. 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 Premium Practices Forecast 2014: Survey of Corporate Legal Spending, found here: http://www.bticonsulting.com/premiumpractices.
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 services firms and their clients.