The recession has shifted the balance of power in the legal marketplace toward general counsel, perhaps permanently, a new report by international law firm Eversheds says. The report surveyed 130 general counsel and 80 law firm partners around the globe. General counsel said they have more status and influence in their own companies in the new post-recession world. As a result, hourly fees are giving way to value billing, the report found.
[via Law.com - Report: GCs Have More Power in Post-Recession World.]
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