In-house lawyers want flexibility on fees

  • Brazil
  • 06/12/2018
  • Latin Lawyer

LACCA has released its first ever legal budget survey, which reveals that Latin American companies’ legal budgets remained steady over the last year, but in-house lawyers want firms to focus on flexible billing arrangements.

Latin Lawyer’s sister association Latin American Corporate Counsel Association, LACCA, published the results of its legal budget survey last week, which polled over 160 in-house lawyers across the region.

Despite political and economic uncertainty due to elections and low economic growth in some Latin American countries, in-house counsel reported legal spend budgets remained steady from last year and in-house teams are in general satisfied with their budgets. When expenditure did increase, legislative changes, including amendments to corporate liability and data compliance laws, were among the reasons given.

The survey suggests that in-house teams spend similar amounts of their budgets on external counsel in 2018 as in the previous year, but respondents overwhelmingly stressed their preference for flexible billing arrangements. Less than 10% say they preferred to be billed hourly, while almost half of the respondents say they prefer fixed fees because they make budget planning easier and provide more predictability.

LACCA will continue to present in-depth analysis of the survey’s findings over the next few weeks.