Law Firms Eating More Costs
It’s getting much tougher for law firms to get paid back by clients for their legal research costs, a new Bloomberg Law survey of almost 100 firms has found.
43 percent of firms say they have to absorb more of their costs today than they did in 2010.
A number of participants noted that an increasing number of clients do not want to pay for online research, a trend they claim started with insurance companies.
Firms are significantly more likely to recover legal research costs on litigation matters than other areas of law. Participants feel this is because clients expect litigation to require legal research.
Some participants noted that clients believe research services should be part of the overhead of running a law library, and not an additional cost that is passed on to them.
Still, the survey found that charges for online research and document retrieval are more likely to be recovered than other legal research costs like telephone calls, printing, and scanning which fewer and fewer clients are willing to pay for.
For more details of the survey results, visit BloombergLaw.com.