Proof positive of the standardization and commoditization of legal services is in the behavior of corporate counsel toward their outside law firms: They are taking bids, asking for discounts, shopping around for lower-cost options and doing more work themselves — much the same way their operational counterparts make purchases from other vendors. And that trend — boosted by rising rates and falling stock prices — ultimately will affect how law firms are run.
Standardized Work, Cost Cutting Alter GC Relationship With Outside Counsel
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