Over one-third (37%) of leading UK companies use a restricted panel of approved law firms for allocating their legal work, according to research.
PANEL POWER
Over one-third (37%) of leading companies use a restricted panel of approved law firms for allocating their legal work, according to research. Sweet & Maxwell’s In-House Lawyer Directory 2008 also reveals that the general counsel at the ’s largest companies say they “regularly instruct” just four law firms. The publisher says that although firms with legal panels sometimes instruct non-panel law firms for particular work, there is a trend for clients to concentrate their legal spend among fewer firms. The research shows that the growing use of law firm panels is not just about controlling costs, but allows the in-house legal teams to benchmark performance and quality.
