Companies plan to switch law firms more often, assail firms for billing procedures and cost.NEW YORK--(BUSINESS WIRE)--Feb. 6, 1995--In a recent survey, 70 percent of middle to large corporations polled in the states of Pennsylvania Pennsylvania (pĕnsəlvā`nyə), one of the Middle Atlantic states of the United States. It is bordered by New Jersey, across the Delaware River (E), Delaware (SE), Maryland (S), West Virginia (SW), Ohio (W), and Lake Erie and New York , Massachusetts Massachusetts (măsəch  `sĭts), most populous of the New England states of the NE United States. and Connecticut Connecticut, state, United StatesConnecticut (kənĕt`ĭkət), southernmost of the New England states of the NE United States. It is bordered by Massachusetts (N), Rhode Island (E), Long Island Sound (S), and New York (W). said they are using more law firms This list of the world's largest law firms by revenue is taken from The Lawyer and The American Lawyer and is ordered by 2006 revenue:[1]
Half (50 percent) said they were more likely to switch law firms these days, and a quarter expect to reduce the number of law firms with which they deal. The majority (59 percent) criticized law firms' billing practices as unclear. The survey was conducted by CDB CDB Common Database CDB Caribbean Development Bank CDB Convention sur la Diversité Biologique (Convention on Biological Diversity) CDB China Development Bank (Beijing, China) CDB Capital Development Board Research & Consulting Inc. The survey of a representative sample of 337 corporations in Pennsylvania, Massachusetts and Connecticut includes ratings by the companies of law firms in the state on a variety of criteria, including cost, access, results achieved, service and overall performance. Use and Switching of Law Firms More than two-thirds of the companies surveyed in the three states (70 percent) agreed they were more likely to use law firms on a project-by-project basis now than they were three years ago: Agreement with Statement: We're more likely to use law firms on a project-by-project basis now than we were three years ago. State Sample Size Percentage Agreement Pennsylvania 108 69% Massachusetts 111 71% Connecticut 118 71% Three States Combined 337 70% Nearly half (49 percent) agreed with the statement we're more likely to switch law firms now than we were five years ago: Agreement with Statement: We're more likely to switch law firms now than we were five years ago. State Sample Size Percentage Agreement Pennsylvania 108 47% Massachusetts 111 52% Connecticut 118 49% Three States Combined 337 49% A quarter (26 percent) agreed with the statement we expect to reduce the number of law firms we deal with over the next two years: Agreement with Statement: We expect to reduce the number of law firms we deal with over the next two years. State Sample Size Percentage Agreement Pennsylvania 108 26% Massachusetts 111 22% Connecticut 118 30% Three States Combined 337 26% "Though the above data suggests the current market for corporate firms in the three states is basically strong, it also suggest many firms should not assume their long-standing relationships with clients are as solid as they would like them to be," commented Larry Chiagouris, managing director of CDB Research & Consulting Inc. Dissatisfaction with Billing and Cost More than half (59 percent) felt law firms do not explain how they bill for their services as clearly as they should: Agreement with Statement: Law firms do not explain how they bill for their services as clearly as they should. State Sample Size Percentage Agreement Pennsylvania 108 56% Massachusetts 111 60% Connecticut 118 60% Three States Combined 337 59% When asked to rate local law firms in each state on sensitivity to cost, using a scale of 1 to 100 where 50 was "about average," respondents In the context of marketing research, a representative sample drawn from a larger population of people from whom information is collected and used to develop or confirm marketing strategy. gave the firms in the three states, on the average, a rating of 56, barely above average: Ratings of Law Firms in Each State on Sensitivity to Cost (Scale of 1 to 100 Where 50 is "About Average") State Sample Size Average Highest Lowest Pennsylvania 108 55 70 34 Massachusetts 111 55 76 32 Connecticut 118 56 70 46 Three States Combined 337 55 72 37 Chiagouris continued, "Cost and billing are where law firms are most vulnerable to losing clients to firms with more competitive practices and better reputations in those areas. Our study provides unique competitive data regarding how specific law firms in each state are perceived on cost and six other key image and service criteria." The full report for each state contains average ratings for major law firms on overall performance as well as cost, access, expertise, results, service, and reputation. For information about the complete report, please call David Jacobson, 212/887-8102 or Ed Stevens, 212/887-8033. Computerization com·put·er·ize tr.v. com·put·er·ized, com·put·er·iz·ing, com·put·er·iz·es 1. To furnish with a computer or computer system. 2. To enter, process, or store (information) in a computer or system of computers. On a more positive note, 78 percent said the law firms they deal with are sufficiently computerized computerized adapted for analysis, storage and retrieval on a computer. computerized axial tomography see computed tomography. to provide the level of efficient services they require: Agreement with Statement: The law firms we use are sufficiently computerized to provide us with the level of efficient service we need. State Sample Size Percentage Agreement Pennsylvania 108 75% Massachusetts 111 71% Connecticut 118 86% Three States Combined 337 77% Connecticut companies List of Connecticut companies includes notable companies that are, or once were, headquartered in Connecticut. A
Alternative Dispute Resolution Procedures for settling disputes by means other than litigation; e.g., by Arbitration, mediation, or minitrials. Such procedures, which are usually less costly and more expeditious than litigation, are increasingly being used in commercial and labor disputes, Divorce A substantial minority report increasing use of alternative dispute resolution. Nearly a third (32 percent) say more and more, we're including alternative dispute resolution in our contracts with customers and suppliers: Agreement with Statement: More and more, we're including alternative dispute resolution (ADR ADR - Astra Digital Radio ) in our contracts with customers and suppliers. State Sample Size Percentage Agreement Pennsylvania 108 39% Massachusetts 111 33% Connecticut 118 26% Three States Combined 337 33% Use of ADR appears to be highest in Pennsylvania (39 percent) and lowest in Connecticut (26 percent). CDB Research and Consulting Inc. - the research arm of Creamer Dickson Basford - is a full-service research and communications strategy consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a headquartered in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . CDB Research's specialties include legal and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , marketing and corporate communications Corporate communications is the process of facilitating information and knowledge exchanges with internal and key external groups and individuals that have a direct relationship with an enterprise. and corporate/brand identity. Study Methodology: Survey questionnaires were mailed in October 1994 to Pennsylvania, Massachusetts and Connecticut executives responsible for selecting the law firms for companies with annual revenues of $10 million and above. CONTACT: CDB Research and Consulting Inc., New York Ed Stevens, 212/887-8033 or David Jacobson, 212/887-8102 |
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