Legal expense management news for July 12, 2013

We’re back after a break for the July 4 holiday….

BigLaw adopting legal project management (LPM) “’for a number of reasons that stem largely from client demands for greater predictability, accountability and transparency around the cost of legal services…whether they want to or not.”

New venture aims to broker deals between law firms and clients. Their research indicates that a third of top companies believe they overpay for external legal advice, and estimate they pay 18% above market rates.

U.K. panel news: big bank concludes review, after focusing “on a range of factors including outsourcing, the availability of secondees and the competitiveness of fee quotes, in addition to firms’ workplace diversity record and their commitment to CSR initiatives.” And a money printing company chooses BigLaw as a preferred supplier based on a “scoring matrix to judge the competing firms including cultural fit, geographical spread of the firm, understanding of our requirements and pricing a set piece of work.”

From our “how much does it cost?” files, ice cream cone statue litigation has cost a village in New York more than $18,000 in attorney’s fees thus far. (sub. req’d) Also, a £1.2m bill in the U.K. “on a monumental disclosure exercise in the defence of a £200m damages claim…”

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