Rising Partner Billing Rates Pose Challenges for Corporate Legal Departments in 2024
In recent years, corporate legal departments have faced a notable trend: escalating partner billing rates at law firms. This shift has significant implications for general counsels (GCs) striving to manage legal budgets effectively. Data from the LexisNexis CounselLink 2025 Trends Report indicates that in 2024, average partner billing rates increased by 5.1%, following a 5.4%…