GCs Not Satisfied With Outside Counsel Rates
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The Consero Group’s new “2013 Spring General Counsel Survey,”which addresses several areas of concern to in-house counsel at U.S. companies, has found that 61 percent of Fortune 1000 general counsel are not satisfied with the rates they pay to their outside counsel—a sign that economic pressures are forcing alternative fee arrangements to again become an important issue in corporate board rooms.
The survey, compiled by the executive events organizer Consero Group in partnership with Applied Discovery, also found that 61 percent of the GCs surveyed already use alternative fee arrangement for outside counsel, but 60 percent said they plan to further increase their use of such arrangements.
“Alternative fee arrangements and reining in costs of outside counsel are not new topics, but the appetite for alternative arrangements and for more efficient counsel hasn’t decreased,” Consero’s Chief Executive Officer Paul Mandell told CorpCounsel.com “In fact, there had been a lull in this discussion in recent years but it appears to again be gaining steam.”
Read original articleTags: alternative arrangements, alternative fee arrangements, Consero Group, Counsel Rates, Spring General Counsel
