Fortune 1000 Spending on Outside Counsel Climbs 15.8%

Fortune 1000 Spending on Outside Counsel Climbs 15.8%

6 practices prime for double-digit growth in 2006

WELLESLEY, Mass., Oct. 6 /PRNewswire/ -- The BTI Consulting Group's (Wellesley, MA) fifth annual study of legal services reveals an impressive 15.8% rise in spending on outside counsel. BTI's exclusive analysis, based on over 1,000 interviews with corporate counsel at large and Fortune 1000 companies, estimates the total size of the market for outside counsel services at $47.2 billion.

Six specific practice areas stand out as top performers in this burgeoning marketplace, according to BTI's comprehensive research. Class Actions, Product Liability, General Litigation, Regulatory, Intellectual Property Litigation and Securities show strong signs of continued growth as well as high potential for premium billing rates. BTI's research finds pricing will be strongest in these areas as well.

"Clients have 40% smaller legal staffs and the stakes keep getting higher," reports Michael B. Rynowecer, BTI's President. "Most companies are sending much more work outside."

BTI's analysis also indicates that the growth in outside counsel spending has been accompanied by new demands on law firms. "Our eyes are on the growing gap between top performing law firms and those that are falling behind," Rynowecer continues. "There is a shake-out in our future," he predicts.

BTI's new market analysis, featured in its just-released publication, BTI Market Opportunities for Law Firms 2006, pinpoints the best opportunities for growth and premium billing rates. This forward-looking research highlights the practice areas, industries and specific client goals and needs that will capture the most legal dollars in 2006. It also delineates exactly which practice areas will see top growth and garner premium rates.

BTI Market Opportunities for Law Firms 2006, including a no-holds-barred analysis of law firm's financial and strategic performance, is available for purchase at BTI's website http://www.bticonsulting.com/ or by calling (617) 439-0333. BTI is the leader in providing high-impact strategic market research to law firms and the buyers and sellers of professional services.

Source: BTI Consulting Group

CONTACT: Michael B. Rynowecer of BTI, +1-617-439-0333,
mrynowecer@bticonsulting.com

Web site: http://www.bticonsulting.com/