Held in New Orleans last week was a panel speaking on the issue of “The Law Firm of the Future - Who Will be the New Winners and New Losers.” With growing financial concern, legal fees are being watched closely as companies and/or individuals are trying to decide if the fee is feasible. That is why a panel consisting of Bruce MacEwen, a New York-based law firm consultant; Sheryl Willert of Williams Kastner in Seattle; Patricia Diaz Dennis, senior vice president and assistant general counsel of AT&T; and Raymond Williams of DLA Piper’s Philadelphia office advise firms to discount rates!

It’s all about a discount now adays!

“We are facing pressure on rates,” said MacEwen, who also mentioned that one company fired its law firm after it became public that firm was charging $1,000-an-hour rates.

According to Diaz Dennis, AT&T sent out a letter to its law firms a few years back, advising them that their budget was too high.

“The ones that stepped up to the plate and offered to share that pain with us are the ones who are still working with us,” she said.

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