Across the legal industry, there has been a consistent buzz about corporate legal departments (CLDs) experiencing significant law firm hourly rate increases.
While law firms justify these increases due to factors like inflation and talent promotion, CLDs are tasked with finding cost-conscious ways to absorb the additional costs.
This LegalVIEW Insights report looks at law firm rate increases realized in 2023, compares them to increases reported in 2022, and provides insight into year-to-date rate information for 2024.
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