Counsel Spending Increases for Companies

A new survey by PricewaterhouseCoopers reports that spending for outside counsel to advise and represent corporate America rose slightly more than six percent during 1998 - the year the survey covered.

PWC attributes this increase to a strong economy, and more mergers and acquisitions. Other reasons cited included higher hourly billing rates and a higher volume of work, in general.

In-house spending on lawyers also rose by more than four percent during the same year, and total spending was in excess of $10.5 million.

The survey covering both in and outside counsel was conducted among 251 law departments in the utilities, banking and financial services, transportation, manufacturing and insurance industries.

You may like these other stories...

I recently talked with Doug Sleeter about the current state of the small business consulting profession. We talked about how consultants have great opportunities for competitive differentiation by taking full responsibility...
By Shawn Moriarity, Senior Consultant, SageworksRemember dating in high school? You know that guy or girl who you liked but were pretty sure didn't feel the same way about you? It's likely that you doubtless spent...
By Shawn MoriarityYour car's fuel gauge reads empty and you need to find a gas station. Despite BP's new ad campaign or the magazine article you recently read about ExxonMobil's efforts to "go green,"...

Upcoming CPE Webinars

Aug 5
This webcast will focus on accounting and disclosure policies for various types of consolidations and business combinations.
Aug 20
In this session we'll review best practices for how to generate interest in your firm’s services.
Aug 21
Meet budgets and client expectations using project management skills geared toward the unique challenges faced by CPAs. Kristen Rampe will share how knowing the keys to structuring and executing a successful project can make the difference between success and repeated failures.
Aug 28
Excel spreadsheets are often akin to the American Wild West, where users can input anything they want into any worksheet cell. Excel's Data Validation feature allows you to restrict user inputs to selected choices, but there are many nuances to the feature that often trip users up.