Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.
Compelling Research. Compelling Results.©2015 The BTI Consulting Group, Inc. All rights reserved.
2016
BTI Litigation Outl...
1
©2015 The BTI Consulting Group, Inc. All rights reserved. +1 617 439 0333  www.bticonsulting.com BTI Litigation Outlook...
2
©2015 The BTI Consulting Group, Inc. All rights reserved. +1 617 439 0333  www.bticonsulting.com BTI Litigation Outlook...
3
©2015 The BTI Consulting Group, Inc. All rights reserved. +1 617 439 0333  www.bticonsulting.com BTI Litigation Outlook...
4
©2015 The BTI Consulting Group, Inc. All rights reserved. +1 617 439 0333  www.bticonsulting.com BTI Litigation Outlook...
5
©2015 The BTI Consulting Group, Inc. All rights reserved. +1 617 439 0333  www.bticonsulting.com BTI Litigation Outlook...
6
©2015 The BTI Consulting Group, Inc. All rights reserved. +1 617 439 0333  www.bticonsulting.com BTI Litigation Outlook...
7
©2015 The BTI Consulting Group, Inc. All rights reserved. +1 617 439 0333  www.bticonsulting.com BTI Litigation Outlook...
8
©2015 The BTI Consulting Group, Inc. All rights reserved. +1 617 439 0333  www.bticonsulting.com BTI Litigation Outlook...
9
©2015 The BTI Consulting Group, Inc. All rights reserved. +1 617 439 0333  www.bticonsulting.com BTI Litigation Outlook...
10
©2015 The BTI Consulting Group, Inc. All rights reserved. +1 617 439 0333  www.bticonsulting.com BTI Litigation Outloo...
11
©2015 The BTI Consulting Group, Inc. All rights reserved. +1 617 439 0333  www.bticonsulting.com BTI Litigation Outloo...
12
©2015 The BTI Consulting Group, Inc. All rights reserved. +1 617 439 0333  www.bticonsulting.com BTI Litigation Outloo...
13
©2015 The BTI Consulting Group, Inc. All rights reserved. +1 617 439 0333  www.bticonsulting.com BTI Litigation Outloo...
14
©2015 The BTI Consulting Group, Inc. All rights reserved. +1 617 439 0333  www.bticonsulting.com BTI Litigation Outloo...
15
©2015 The BTI Consulting Group, Inc. All rights reserved. +1 617 439 0333  www.bticonsulting.com BTI Litigation Outloo...
16
©2015 The BTI Consulting Group, Inc. All rights reserved. +1 617 439 0333  www.bticonsulting.com BTI Litigation Outloo...
17
©2015 The BTI Consulting Group, Inc. All rights reserved. +1 617 439 0333  www.bticonsulting.com BTI Litigation Outloo...
18
©2015 The BTI Consulting Group, Inc. All rights reserved. +1 617 439 0333  www.bticonsulting.com BTI Litigation Outloo...
The BTI Consulting Group, Inc.
396 Washington Street, Suite 314
Wellesley, MA 02481-6209
Tel: +1 617 439 0333
Fax: +1 617 ...
Upcoming SlideShare
Loading in …5
×

BTI Litigation Outlook 2016 Executive Summary

1,270 views

Published on

BTI Litigation Outlook 2016 is your guide to understanding how clients’ expectations are changing to help you grow and capture new market opportunities, take smart risks, and spur innovation. Fewer matters, increased spending, more complex work. These are just 3 of the recent changes impacting how clients are approaching litigation—and how law firms will win business. BTI’s 5th annual series on trends in the litigation market uncovers how client behavior—and spending—is changing in 2016. BTI Litigation Outlook 2016 is here to help you create and provide solutions before clients realize they need them. And months (or years) before your competitors realize the same opportunities exist. Includes rankings of over 160 law firms in 8 practices, and the BTI Fearsome Foursome. Order your copy now at www.bticonsulting.com/litigationoutlook

Published in: Law
  • Be the first to comment

BTI Litigation Outlook 2016 Executive Summary

  1. 1. Compelling Research. Compelling Results.©2015 The BTI Consulting Group, Inc. All rights reserved. 2016 BTI Litigation Outlook Changes, Trends and Opportunities for Law Firms EXECUTIVE SUMMARY
  2. 2. 1 ©2015 The BTI Consulting Group, Inc. All rights reserved. +1 617 439 0333  www.bticonsulting.com BTI Litigation Outlook 2016: Changes, Trends and Opportunities for Law Firms ORDER THE COMPLETE REPORT NOW FOR MORE THAN 20 STRATEGIES TO WIN WORK AND THE LAW FIRMS CLIENTS NAME AS BEST: www.bticonsulting.com/litigationoutlook Litigation Outlook 2016: Turning Market Trends into Growth Opportunities At the core of BTI’s research is a simple idea: Understanding how clients’ expectations are changing to help you grow and capture new market opportunities, take smart risks, and spur innovation. Fewer matters, increased spending, more complex work. These are 3 of the recent changes impacting how clients are approaching litigation—and how law firms will win business. BTI’s 5th annual series on trends in the litigation market uncovers how client behavior—and spending—is changing in 2016. However, the trends aren’t the point of this report; the opportunities are. Our goal is to help you create and provide solutions before clients realize they need them. And months (or years) before your competitors realize the same opportunities exist. 6 Trends Shaping Litigation in 2016 | 2 Client Spending on Litigation | 9 Litigation Forecast, by Specialty | 13 Industry Opportunities | 32 How Clients Use Law Firms for Litigation | 35 The Fearsome Foursome | 47 BTI’s Recommendations for 2016 | 49 Methodology | 53 About BTI | 55 Index of Firms | 60
  3. 3. 2 ©2015 The BTI Consulting Group, Inc. All rights reserved. +1 617 439 0333  www.bticonsulting.com BTI Litigation Outlook 2016: Changes, Trends and Opportunities for Law Firms 6 trends shaping litigation in 2016 And more than 20 strategies to put into action. TODAY! 1. PRICES UP, VOLUME DOWN More high-rate work, but less work overall 2. HIGH-STAKES WORK SKYROCKETS More premium work up for grabs 3. THE IP LITIGATION BUBBLE HAS OFFICIALLY POPPED Less available work requires strategically targeting clients you want 4. CASE RESOLUTION A PATH TO MORE WORK Clients looking to settle faster and earlier 5. GET AHEAD OF THE CLASS (ACTIONS) The age of class actions is about to dawn 6. 4 LAW FIRMS CUT FROM CLIENT LITIGATION ROSTERS Even entrenched law firms are on clients’ chopping block
  4. 4. 3 ©2015 The BTI Consulting Group, Inc. All rights reserved. +1 617 439 0333  www.bticonsulting.com BTI Litigation Outlook 2016: Changes, Trends and Opportunities for Law Firms 1. PRICES UP, VOLUME DOWN 0 200 400 $15 $20 $25 $30 2011 2012 2013 2014 2015 2016 (Projected) Litigation Spending Total Matters Billions Matters IMPLICATION: More high-rate work, but less work overall. In 2016, litigation spending is expected to see its first increase since 2011. However, this uptick in the market doesn’t mean the market is returning to its former heyday. In fact, high resolution rates indicate fewer litigation matters will be on corporate counsel dockets. Fewer matters means fewer opportunities to be hired. Competition will be higher than ever to win litigation work. The upside: the firms able to snag the growth in premium work will see higher levels of spending per matter than before.
  5. 5. 4 ©2015 The BTI Consulting Group, Inc. All rights reserved. +1 617 439 0333  www.bticonsulting.com BTI Litigation Outlook 2016: Changes, Trends and Opportunities for Law Firms 2. HIGH-STAKES WORK SKYROCKETS Percent of companies with matter type 91.5% 84.5% 23.9% 91.2% 78.9% 12.3% 96.2% 78.2% 37.2% 0% 100% Routine Complex Bet-the-Company 2013 2014 2015 IMPLICATION: More premium work up for grabs. Premium rate work is growing while overall matter volume is down. Bet-the- Company litigation virtually tripled and is heading higher. Law firms able to quickly assess—and articulate—the business implications (strategies, costs, time investments, likely outcomes, etc.) on high-stakes matters will be better positioned to win this work. See page 12 in the full report for additional recommendations on how to best position your firm for these high-rate matters.
  6. 6. 5 ©2015 The BTI Consulting Group, Inc. All rights reserved. +1 617 439 0333  www.bticonsulting.com BTI Litigation Outlook 2016: Changes, Trends and Opportunities for Law Firms 3. THE IP LITIGATION BUBBLE HAS OFFICIALLY POPPED Billions $2.42 $2.81 $2.89 $2.89 $2.76 $2.72 $1 $4 2010 2012 2013 2014 2015 2016 (Projected) 19.3% INCREASE 5.7% DECLINE IMPLICATION: Less available work requires strategically targeting clients you want. The rapid growth of the IP litigation market was just as quickly tempered. Risk- averse corporate counsel were swift to adopt proactive strategies and monitoring solutions to ensure the risk—and cost—of IP litigation didn’t upend their legal budgets. This means fewer IP issues are escalating into high-stakes litigation. A more strategic approach to managing IP litigation is needed if a firm wants to be in position to handle IP litigation for clients. See page 23 in the full report on how to best position your firm to capture premium-rate IP litigation cases.
  7. 7. 6 ©2015 The BTI Consulting Group, Inc. All rights reserved. +1 617 439 0333  www.bticonsulting.com BTI Litigation Outlook 2016: Changes, Trends and Opportunities for Law Firms 4. CASE RESOLUTION A PATH TO MORE WORK 22.2% 36.9% 41.6% 36.5% 40.1% 47.8% 42.6% 0% 75% 2009 2010 2011 2012 2013 2014 2015 2016 (Projected) Percent of Active Matters Settled IMPLICATION: Clients looking to settle faster and earlier. Attract the best clients by showcasing: streamlined early case assessment, smarter staffing arrangements, budgets (including adherence to them), and proactive settlement strategies.
  8. 8. 7 ©2015 The BTI Consulting Group, Inc. All rights reserved. +1 617 439 0333  www.bticonsulting.com BTI Litigation Outlook 2016: Changes, Trends and Opportunities for Law Firms 5. GET AHEAD OF THE CLASS (ACTIONS) Billions $2.24 $2.06 $2.05 $2.03 $2.10 $2.14 $1 $3 2010 2012 2013 2014 2015 2016 (Projected) 8.7% DECLINE 5.5% INCREASE IMPLICATION: The age of class actions is about to dawn. Class Actions are about to be big—extremely big. Certification reclassifications and increasing regulatory scrutiny have tempered Class Actions spending for the past few years. However, the talk of Class Actions becoming a global issue points to one trend: the recent decline in this spending area is about to reverse. Law firms looking to be a player in the Class Actions market will need to start laying the groundwork, today, with clients most at risk (see page 17 in the full report for a detailed look at class actions).
  9. 9. 8 ©2015 The BTI Consulting Group, Inc. All rights reserved. +1 617 439 0333  www.bticonsulting.com BTI Litigation Outlook 2016: Changes, Trends and Opportunities for Law Firms 6. 4 LAW FIRMS CUT FROM CLIENT LITIGATION ROSTERS IMPLICATION: Even entrenched firms are on clients’ chopping block. It just got a lot harder to win litigation work. In 2015, clients used 4 fewer law firms for their litigation needs than in 2014. The perfect storm of fewer litigation matters, higher resolution rates, and increasingly complex work drives corporate counsel to cap their roster of law firms used for litigation. See page 36 in the full report for more details on why complex work drives the use of fewer law firms and how you can ensure your firm doesn’t end up being cut. Number of Law Firms Relied on for Litigation 17 18 20 21 17 0 30 2010 2012 2013 2014 2015
  10. 10. 9 ©2015 The BTI Consulting Group, Inc. All rights reserved. +1 617 439 0333  www.bticonsulting.com BTI Litigation Outlook 2016: Changes, Trends and Opportunities for Law Firms Methodology and Approach
  11. 11. 10 ©2015 The BTI Consulting Group, Inc. All rights reserved. +1 617 439 0333  www.bticonsulting.com BTI Litigation Outlook 2016: Changes, Trends and Opportunities for Law Firms Research Methodology and Approach BTI Litigation Outlook 2016 is based solely on in-depth telephone interviews with leading legal decision makers. This comprehensive analysis trends data from more than 4,000 corporate counsel client interviews conducted over the span of 15 years. This research is independent and unbiased—no law firm or organization other than BTI sponsors this study. Each year, BTI reaches out to a sample of legal decision makers at large organizations with $1 billion or more in revenue. Participants are granted confidentiality at the individual and organizational level. 2016 SURVEY PARTICIPANT DEMOGRAPHICS • Head of Litigation • Chief and Vice President of Litigation • General Counsel/Chief Legal Officer • Direct report to General Counsel LEGAL DECISION MAKERS RESPONSIBLE FOR LITIGATION 322 in-depth telephone interviewsInterviews Conducted between March 9 and September 10, 2015Time Frame Respondents receive a complimentary report of legal benchmarks and metrics Incentives OVERVIEW ORGANIZATIONS WITH HIGHEST LEVELS OF LEGAL SPENDING $18.2 billion $4.7 billion Average Revenue Median Revenue REPRESENTATIVE OF MORE THAN 15 INDUSTRY SEGMENTS Banking Chemicals Consumer Goods Energy Financial Services High Tech Insurance Investment Banks Manufacturing Pharmaceuticals Professional Services Retail Trade Telecom Transportation Wholesale Trade
  12. 12. 11 ©2015 The BTI Consulting Group, Inc. All rights reserved. +1 617 439 0333  www.bticonsulting.com BTI Litigation Outlook 2016: Changes, Trends and Opportunities for Law Firms About The BTI Consulting Group
  13. 13. 12 ©2015 The BTI Consulting Group, Inc. All rights reserved. +1 617 439 0333  www.bticonsulting.com BTI Litigation Outlook 2016: Changes, Trends and Opportunities for Law Firms Immediately Drive Growth with CLIENTELLIGENCE® Pinpoint your strengths—and weaknesses— in the activities proven to drive growth THE 17 ACTIVITIES DRIVING GROWTH Quadrant I: Relationship Bliss 1. Commitment to help 2. Client focus 3. Understanding the client’s business 4. Providing value for the dollar Quadrant II: Price of Admission 5. Legal skills 6. Quality 7. Meeting core scope 8. Keeping clients informed 9. Dealing with unexpected changes 10. Handling problems Quadrant III: Relationship Builders 11. Breadth of services 12. Helping advise on business issues 13. Regional reputation 14. Unprompted communication 15. Bringing together resources Quadrant IV: Business Magnets 16. Anticipating the client’s needs 17. Innovative approach BTI’s 25 years of research pinpoint the 17 activities responsible for driving the absolute best client relationships. In essence, they are how clients define client service excellence and what clients expect out of the firms with whom they have the best relationships. The best-in-class performances in these activities are proven to drive superior financial performance. There’s only 1 way to determine if you are hitting the best-in-class threshold: ask. Client feedback allows you to unequivocally pinpoint where you are excelling and where you need systematic improvements in your relationships. The best feedback initiatives not only assess how you and your firm perform, but also look at the performance of the competitors also serving your clients. At the end of the day, what does it matter if a client thinks you are doing great, if a competitor is doing better? LEARN MORE ABOUT THE 17 ACTIVITIES AND BTI’S NEWEST BOOK: CLIENTELLIGENCE www.bticonsulting.com/17
  14. 14. 13 ©2015 The BTI Consulting Group, Inc. All rights reserved. +1 617 439 0333  www.bticonsulting.com BTI Litigation Outlook 2016: Changes, Trends and Opportunities for Law Firms BTI dissects each and every aspect of the client experience through more than 14,000 independent interviews with C-level executives and systematic analysis. BTI has helped professional services firms boost client service for over 25 years. BTI is the leading provider of strategic research to the legal community—performing more market research about law firms than virtually anyone. BTI has helped more than 200 law firms and professional services firms improve client service through compelling research and advice. We conduct the only continuous benchmarking market study in the legal services industry, now in its 16th year. Drive new business immediately Keep competitors out of your client base Find your strengths… and weaknesses BTI conducts the most insightful, custom client surveys as part of world-class client feedback programs to drive growth. Clients use BTI’s fact-based approach and powerful decision-making tools to drive change, create urgency, and substantially boost performance. USE BTI’S SERVICES AND RESEARCH TO: Learn what clients really want from you Who We Are
  15. 15. 14 ©2015 The BTI Consulting Group, Inc. All rights reserved. +1 617 439 0333  www.bticonsulting.com BTI Litigation Outlook 2016: Changes, Trends and Opportunities for Law Firms BTI PERFORMS A BROAD RANGE OF SERVICES FOR OUR CLIENTS, INCLUDING: CUSTOM CLIENT FEEDBACK RESEARCH CLIENT SERVICE PERFORMANCE STUDIES CLIENT NEEDS ASSESSMENT BUSINESS DEVELOPMENT STRATEGIC BUSINESS PLANNING CLIENT-FOCUSED BUSINESS PRACTICES CUSTOM TRAINING BENCHMARKING YOUR PERFORMANCE YOUR FIRM’S CLIENT SERVICE SCORE FINANCIAL AND MARKET PERFORMANCE COMPETITIVE ANALYSIS MARKET ASSESSMENT BRAND HEALTH & MARKET AWARENESS STUDIES NEW MARKET ENTRY ASSESSMENTS BTI CLIENT FOCUS BOOT CAMPS HIGHLY TARGETED 3-4 HOUR SESSIONS—DESIGNED FOR SENIOR PARTNERS AND ATTORNEYS CLIENT INSIGHT BRIEFINGS BTI ALSO OFFERS PRIVATE BRIEFINGS BOTH IN PERSON AND VIA THE WEB. CHOCK FULL OF CLIENT-BASED INSIGHTS, PERSPECTIVES, AND FACTS, BTI BRIEFINGS DRAW FROM OUR RESEARCH, EXPERIENCE, AND OTHER RESOURCES TO PROVIDE PROVOCATIVE, CONSTRUCTIVE INSIGHTS TO HELP YOU BOOST CLIENT SATISFACTION, INCREASE CLIENT RETENTION, AND IMPROVE YOUR PERFORMANCE. WE CAN TAILOR OUR BRIEFING TO INCLUDE SPECIFIC FEEDBACK ON YOUR FIRM. PLEASE CONTACT MICHAEL B. RYNOWECER AT +1 617 439 0333 OR MRYNOWECER@BTICONSULTING.COM TO LEARN MORE ABOUT BTI’S CUSTOM RESEARCH & SERVICES. Key Services to Help Our Clients
  16. 16. 15 ©2015 The BTI Consulting Group, Inc. All rights reserved. +1 617 439 0333  www.bticonsulting.com BTI Litigation Outlook 2016: Changes, Trends and Opportunities for Law Firms The data and insight found in BTI’s reports are used to train attorneys, guide business development, inform strategy, and calibrate market trends against firm tactics. In short, you get many of the benefits of a custom study commissioned for your firm, at a fraction of the cost. These insights are proven to drive growth and client retention and protect fees. All of our reports come with a 100% satisfaction guarantee and complete telephone support to help you maximize the value from our publications. You can order these and other compelling BTI research or publications at www.bticonsulting.com. BTI LEGAL SPENDING OUTLOOK 2016 – RELEASED OCTOBER 2016 BTI’s Legal Spending Outlook outlines how clients are changing their spending and use of law firms—by practice—in 2016. Learn how to use the distinctive characteristics of 17 different practice areas to target the best opportunities for your firm and beat out competitors. BTI CLIENT SERVICE A-TEAM 2016 – RELEASED NOVEMBER 2016 17 activities drive superior client relationships. 4 matter most. Discover how clients rate more than 300 law firms—by name—in these key activities, including Client Focus, Commitment to Help, Legal Skills, and Provides Value for the Dollar. BTI BRAND ELITE 2015 Based on why clients hire and recommend law firms—not the services, size, or location of a law firm—BTI’s research reveals how law firms of any size reap substantial new business by improving brand perceptions in the market. BTI CLIENT SERVICE ALL-STARS 2015 354 attorneys step up to meet—and exceed—clients’ expectations and earn recognition, by name, from corporate counsel for delivering the absolute best client service. Additional Insights from BTI Research and Publications
  17. 17. 16 ©2015 The BTI Consulting Group, Inc. All rights reserved. +1 617 439 0333  www.bticonsulting.com BTI Litigation Outlook 2016: Changes, Trends and Opportunities for Law Firms THIS COPY OF BTI LITIGATION OUTLOOK 2016 EXECUTIVE SUMMARY IS LICENSED TO YOU FOR PRIVATE, NONCOMMERCIAL USE FOR INTERNAL, COMPANY PURPOSES. NO PORTION OF THIS INFORMATION MAY BE COPIED OR TRANSMITTED IN ANY FORM, SHAPE OR MANNER WITHOUT THE PRIOR WRITTEN CONSENT OF THE BTI CONSULTING GROUP, INC., OF WELLESLEY, MA. ANY VIOLATION OF THIS LICENSE MAY BE PUNISHABLE BY APPLICABLE FEDERAL STATUTES AND SUBJECT THE USER TO ADDITIONAL AND COMPENSATORY LICENSING FEES. COPYRIGHT ©THE BTI CONSULTING GROUP, INC., 2015. ADDRESS ANY QUESTIONS TO: THE BTI CONSULTING GROUP, INC. 396 WASHINGTON STREET, SUITE 314 WELLESLEY, MA 02481 +1 617 439 0333 Terms of Use
  18. 18. 17 ©2015 The BTI Consulting Group, Inc. All rights reserved. +1 617 439 0333  www.bticonsulting.com BTI Litigation Outlook 2016: Changes, Trends and Opportunities for Law Firms Please contact Michael B. Rynowecer, BTI President, at +1 617 439 0333 or at mrynowecer@bticonsulting.com with your questions, thoughts, and comments. Contact BTI
  19. 19. 18 ©2015 The BTI Consulting Group, Inc. All rights reserved. +1 617 439 0333  www.bticonsulting.com BTI Litigation Outlook 2016: Changes, Trends and Opportunities for Law Firms FOR MORE THAN 20 STRATEGIES TO WIN WORK AND THE LAW FIRMS CLIENTS NAME AS BEST: ORDER YOUR COMPLETE REPORT NOW www.bticonsulting.com/litigationoutlook 6 Trends Shaping Litigation in 2016 | 2 Client Spending on Litigation | 9 Litigation Forecast, by Specialty | 13 Industry Opportunities | 32 How Clients Use Law Firms for Litigation | 35 The Fearsome Foursome | 47 BTI’s Recommendations for 2016 | 49 Methodology | 53 About BTI | 55 Index of Firms | 60
  20. 20. The BTI Consulting Group, Inc. 396 Washington Street, Suite 314 Wellesley, MA 02481-6209 Tel: +1 617 439 0333 Fax: +1 617 439 9174 www.bticonsulting.com

×