LexisNexis® Martindale-Hubbell® announces findings of second major study into the European corporate legal services market

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The international division of LexisNexis® Martindale-Hubbell® (LNMH), the authoritative information resource on the worldwide legal profession, has announced the findings of its second comprehensive study into the key issues facing European buyers of corporate legal services. The findings emphasise the nature of the relationship between in-house lawyers and their external providers and will be of particular interest to international law firms competing for a share of the regions’ corporate legal budget.

Following earlier research completed in 2003, this latest study entitled “Understanding the minds of European in-house counsel” was conducted by LexisNexis® Martindale-Hubbell® and Taylor Nelson Sofres, a leading international business market research consultancy.

Essential Market Intelligence

This in-depth report will be of interest to any law firm interested in securing trans-national work from large organisations in the region:

The Co-Chair of the International Bar Association, Corporate Counsel Forum, Jan Eijsbouts commented: “The report highlights the new challenge faced by in-house counsel in adapting to their changing role from the technical adviser on legal matters to the guardian of corporate risk management and reputation…I applaud the creative approach and diligent efforts by LexisNexis Martindale-Hubbell in producing this useful Report.”

Obtaining your copy

Priced at $300, this in-depth report is available with a complimentary copy of the earlier 2003 study for full analysis and comparison. To purchase the report please call +44 (0) 207 911 1946 or mail research@martindale.com.

Report Findings

The 2005 report suggests a shift in the focus of in-house counsel in the period between studies from previous “hot topics” such as risk management, compliance and regulation, to the need to be more directly involved in executive activities such as strategic planning and decision-making. For law firms, despite the ever-increasing competitive environment, the report confirms that European companies will be outsourcing more legal work and that when considering appointing external counsel, qualitative considerations carry far greater weight with buyers than price.

Key findings from discussions with in-house counsel

In House Counsel: • Recognise the need to work more closely than ever with their organisation’s various business units; • Expect to outsource more work in the near future; • Appear to be less concerned about regulatory environment, whilst excessive executive expectations of the in-house team appears to have stabilised; • Confirm that when appointing external counsel, price is one of the least important factors taken into consideration at selection; • Believe their external law firms should offer more flexible engagement terms; • Confirm that whilst budgets remain tight, external law firms appear to be offering better value for money;

Commenting on the findings Derek Benton, international operations director at LexisNexis® Martindale-Hubbell® said; “Once again the 2005 study has concentrated primarily on an examination of the priorities, challenges, needs and expectations of today’s corporate lawyers. With the emphasis of that analysis falling squarely on the relationship between in-house lawyers and their external providers, the findings will be of particular interest to law firms competing for a share of corporate legal spend. They demonstrate that there are numerous opportunities for international law firms to add value and increase the volume of work they receive from existing international corporate clients.”

James Harley, International Marketing Director at LNMH added; “The 2003 report was a first in terms of both scope and geography, and this has been significantly extended in the 2005 study. Considerable interest was generated across the profession - especially among law firm marketers and business development partners - who recognised the contribution the findings would make to business development and strategic planning activities. Interest was also high among corporate buyers of international legal services as the findings offering the chance to benchmark their teams against numerous departmental best practices and gain a better appreciation of the priorities and challenges facing their regional peer group.”

-ENDS-

About the research

The LNMH research was based on discussions with 150 senior corporate counsel across Europe. Research was conducted as follows: 63% by in-depth ‘phone interviews of 40 mins+ and 37% by online questionnaire. All respondents were senior decision makers involved in the purchase of external legal services in Europe. Less than half 46% were based in France, Germany, Italy, and the UK, with the balance 54% in smaller European states. 41% of the respondent companies were in The European 500 with average turnover of €30,000m.

Martindale-Hubbell is part of the LexisNexis Group, a member of the Reed Elsevier Group plc.

Last updated -16 April 07

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