General Counsel Weary of Increased Firm Rates

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published November 17, 2008

Law.com reports that in-house lawyers are attempting to block any type of fee raise, emphasizing to firms that legal budgets have tightened and many companies have laid people off. Raises in rates could depend on the client and practice area, with firms given the discretion to make exceptions for individual corporate clients. Alternative billing arrangements and volume-based discounts are expected to become popular. When Yahoo! laid off 1500 employees, one firm offered to reduce Yahoo!'s rates by 20% of what they charged for the previous year.
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