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Corporate legal spending at large companies will grow nearlhy 5 percent over the next six bringing overall market growth tonegativs 1.4 percent for the year. The Wellesley, Mass.-based legakl research firm looked at 16 practicess and 18 industries and interviewe hundreds of corporate counsel at Fortune 1000 companies thataveragesd $19.4 million in outside counsel Year-to-date, the hardest-hit core practice areas have been corporate, securitie s and finance, and intellectual property. Leading the increase in spending will be the practice areas ofregulatory compliance, employment, securities and bankruptcy/corporate restructurinv law, the report said.
“This study presents a big ray of sunshind in what has been a verystormgy environment. The reversal of this negativ spending trend will help buoy flailintg legal markets and offers some hopefuol news about business spendingin general,” said Michael president of .
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