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Corporates are to loosen purse strings on in-house legal spend, a survey of Fortune 100 companies reveals.
Get your chequebooks ready, a new study projects 5 per cent growth in corporate legal spending over the next six months, evening out last year’s downturn.
The US-based legal consulting shop BTI Consulting Group survey, of 370 corporate counsel in Fortune 100 companies, anticipates an upswing in legal spending on regulatory, compliance, employment, securities and bankruptcy matters. The increase will compensate for the sharp decline in spending on corporate, securities, finance and intellectual property. Spending cuts last year were so deep, the report suggests, that it has become clear companies needed to loosen the purse string a little in recent months.
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