"Market forces such as rising attorney salaries, persistent inflation, and unrelenting demand in premium practices are giving firms the confidence to push hourly rates beyond historical norms."
"For in-house teams, rate negotiations have evolved into a strategic imperative that directly impacts budget stability, operational efficiency, and the ability to secure top-tier counsel."
"Drawing on extensive, proprietary PERSUIT data and the experience of the company's Legal Advisory Team, this report examines seven trends shaping rate negotiations and offers practical steps to strengthen your position and lead with value."
Market forces including rising attorney salaries, persistent inflation, and strong demand in premium practices are driving law firms to push hourly rates beyond historical norms. Rate negotiations have become a strategic imperative for in-house teams because negotiated rates directly affect budget stability, operational efficiency, and the ability to secure top-tier external counsel. Seven trends are shaping negotiation dynamics, creating pressure across spend categories and practice areas. Employing practical steps—such as benchmarking, emphasizing value, exploring alternative fee arrangements, and strengthening vendor management—can improve negotiating leverage, contain costs, and preserve access to high-quality counsel.
Read at Above the Law
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