Budgets for some corporate legal departments have been slashed this year in line with across the board cuts implemented as companies try to weather the downturn in the economy. This leaves corporate counsel with a smaller budget to accomplish the same legal work. In-house counsel at major companies are taking a hard look at outside counsel expenditures to determine if the legal work is being handled efficiently, and many have concluded that a different approach is needed.
One strategy that is becoming more popular is to hire boutique law firms that specialize in particular areas of the law. By wisely selecting the boutique firms, many in-house counsel have found that they can obtain the same, if not better, legal services from specialized boutiques than from large firms. Continue reading