Companies are winning fight to control fees

Article Abstract:

A survey of 240 of the largest US companies by Price Waterhouse shows legal expense growth down sharply to 0.5%, and the portion of gross revenues spent for legal costs 3.9% lower than in 1994. That compares sharply to an average 10% annual growth in legal costs in the 1980s. In all, respondents spent 0.38% of revenues on legal expenses in 1992, 0.37% in 1993 and 1994, and 0.36% in 1995. Companies attributed the reductions to a slew of cost-management measures, including bill auditing and litigation alternatives.

Attorneys, Lawyers' fees, Corporate counsel

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Law firms cut down on debt: fiscal conservatism is the watchword at firms whose debt almost sank them

Article Abstract:

Debt levels which ballooned at law firms in the 1980s have decreased steadily the past four years thanks to closer scrutiny and changed conditions. Average per-lawyer debt in one survey of mid-sized firms was $19,734 in 1991 but only $16,397 in 1994, and larger firms show a similar pattern. Many sought national or global stature in the 1980s, while office costs also soared. Now banks insist on more security for loans, and firms have learned from one anothers' experiences.

Social aspects, Law firms, Financial management

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More businesses ask: can we talk, not sue?

Article Abstract:

Law firms that serve large corporate clients are uneasy about the spreading use of alternative dispute resolution (ADR) for inter-industry disputes. A document that would require banks to try ADR before suing is being considered by the largest banks in the US, and pharmaceutical and chemical companies are considering similar agreements. The money- and time-saving potential for business is huge, and many feel that litigation only rarely accomplishes anything.

Banking industry, Usage, Negotiation, mediation and arbitration, Dispute resolution (Law), Mediation

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