A survey of 292 companies on their legal budgets shows that total corporate spending just increased by 2 percent in 2012, down from a 3 percent increase in 2012 and a 5 percent increase in 2011, the Wall Street Journal reports. The survey also shows that more companies are taking their legal work in-house and using legal outsourcing firms for document review. "None of these trends look terribly promising for law firms that operate much as they did in past decades, when profits were fueled by armies of toiling associates and legal bills went largely unquestioned," the WSJ further reports.
Lawyer and Legal Journalist
