By Marilyn Odendahl, Indiana Lawyer
Since joining Indiana University as vice president and general counsel in 2012, Jacqueline Simmons has reduced the money spent on outside legal assistance by doing two things — handling more work internally and demanding price discounts from law firms.
What is happening at IU, one of the state’s largest employers, is not uncommon. Certainly since the Great Recession and possibly a little before, businesses have been relying less on outside counsel and using in-house attorneys more to work on legal matters. The main drivers behind the trend are companies’ desire to save money as well as to increase efficiencies in getting work done.
Industry consultants do not expect corporate legal departments to return to farming out a majority of their work. Michael Sachs, partner at Major Lindsey & Africa, a legal recruiting and staffing company, said businesses may loosen the purse strings in the future but days of spending $500 for a law firm contract review are gone.
Read more of this article at Indiana Lawyer.