By Erin Geiger Smith
Sept 27 (Reuters) - In 2010 and 2011, companies spent more
on their in-house legal departments and on outside counsel than
they did in 2009 and 2010, according to a new survey that
measures legal spending in two-year increments.
The international legal spend for the 260 companies surveyed
rose a median of 5 percent, to $31 million, while spending in
the United States grew some 4 percent, to $26 million, said HBR
Consulting, the company that conducted the survey. The 2011
survey showed the worldwide legal spend down a median of 1
percent.
Nearly 70 percent of the participating companies have
revenues at or above the Fortune 500 level, HBR Consulting said.
The increases can be attributed to a number of factors,
including higher billing rates for outside counsel and larger
in-house staffs. The average hourly rate for the three
top-billing U.S. firms is $458, up more than $45 from the last
survey. More than half of the respondents reported that they had
increased the number of their staff lawyers between 2010 and
2011.
Going forward, the companies said they expected particular
demand for regulatory, international and government relations
attorneys.
Follow us on Twitter @ReutersLegal | Like us on Facebook