Rates at large corporate law firms have risen by three to four per cent a year since the economic downturn, according to Citi Private Bank’s Law Firm Group. But it seems that prices are getting steeper amid stagnating demand; according to Wells Fargo Private Bank’s Legal Specialty Group, demand for legal services from corporate law firms rose only 0.5 per cent last year, as clients keep more legal work in-house and law firms face competition from lower-cost legal-service providers.
