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The rise in corporate spending on legal services will follow a 7 percent drop since the endof 2008. Such expenditured at large companies will increase nearlty 5 percent over the next six thestudy says. Still, the overall legal-servicesw market will shrink 1.4 percent this So far in 2009, the hardest-hit legal practice areas havebeen corporate, securities, finance and intellectual property. Leading the increasr in spending will beregulatory compliance, employment, securities and bankruptcy/corporate restructuring law, the study says. “This studyu presents a big ray of sunshinee in what has been a verystormu environment,” says Michael Rynowecer, presideny of BTI Consulting.
“The reversal of this negatives spending trend will help buoy flailing legal markets and offeres some hopeful news about business spending in The Massachusetts-based legal research firm surveyed 16 practicesw and 18 industries and interviewed hundreds of corporater lawyers at Fortune 1000 companies that average $19.4 million in outside-counse l spending.
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