Counsel counsel face the widest spectrum of needs in decades. Few in-house legal departments are hiring resources in a meaningful way. And almost no clients expect a slow down in legal needs — in fact — most see the opposite.

All this adds up to one thing: increased demand for outside counsel. This is only the beginning of the story — and the opportunity for law firms in 2024.

Join Michael Rynowecer, BTI President (and The Mad Clientist himself), as he discusses client spending on outside counsel, client service, and the best new opportunities for your firm in 2024 in our 15^th annual BTI’s Market Outlook and Client Service Review 2024 Webinar.

Join us while we delve into powerful findings from more than 290 brand-new, in-depth interviews with General Counsel — and 24 years of research and experience — to offer the most authoritative perspective on what’s in store for 2024. You’ll learn about the:

• 6 practices commanding the highest rate premiums in years
• Growth outlook for 15 practices
• Law firms clients single out as the leading edge law firms – most ready for whatever comes next
• 7 industries with the most acute needs
• Clients are choosier than ever in picking law firms
• BUT also the most open to hiring new firms they have been in decades
• Subtle and not so subtle changes in the state of client thinking

Your clients — and prospects — just shared their plans for 2024 with BTI. Now we are sharing these insights with you.

BTI’s Market Outlook and Client Service Review Webinar will help you target — and seize — 2024’s best opportunities before anyone else.

BTI’s annual webinar attracts more than 1800 law firm leaders worldwide. Don’t miss out on your opportunity to discover what the best-performing law firms do — and why. Space is limited.

Registration is complimentary for law firms and BTI clients. Reserve your spot online now.

It’s the widest spectrum of legal needs corporate counsel face in decades. But this is just the start:

• Almost no clients expect a slowdown in legal needs — in fact — most see the opposite
• Few in-house legal departments are hiring in-house staff in a meaningful way
• Outside counsel is headed up for the 4th year in a row
• All this adds up to one thing — increased demand for outside counsel

New matters, new regulations, regulatory headwinds, and employee activism are unrelenting. False claims are driving regulatory issues and litigation. Data privacy is wreaking havoc as breaches and ransomware attacks soar — and a higher proportion of these are ending in litigation. And there are hostile regulators at every turn.

Corporate counsel are facing all this head-on. And few are adding internal resources in a meaningful way. This explains why:

• The number of companies increasing spending on outside counsel outpaces the decreasers by 4 to 1
• 7 industries — the largest spenders — show the most acute needs
• 6 practices are commanding the highest rate premiums in years
• High Tech clients have 11 compelling needs
• Pharma have 10 compelling needs
• Healthcare have 10 compelling needs
• Most industries face at least 6 compelling sets of legal needs

Despite these needs:

Clients are quietly trimming law firm panels — but — they are more open to hiring new firms.

Prepare for what is going to be another surprisingly strong year for the firms putting business development up front. There are few places where clients don’t have substantial needs.

You Can Get an Early Jump on All This

BTI delineates all this and more in our brand new BTI Practice Outlook 2024: Navigating Legal Spending and Needs in the New Unpredictable World. This research is based on more than 290 in-depth independent interviews with top legal decision makers. You get the most detailed, authoritative look at outside counsel spending for 2024 — for 15 practices and 18 industries.

Find the Hot Spots by Industry Fast — BTI’s Industry Opportunity Matrix 2024

Map out spending with client plans for 15 practices and 18 industries — all in one place. Your in-depth look at how companies are changing the way they allocate their legal budgets in 2024 pinpoints the high-rate opportunities.

Learn the distinct client mindset in each practice. Use it to your advantage to develop premium work with the most effective strategies. This is one of the most in-demand tools used by law firms.

Easily spot spending surges — and get the inside story on why and how to capture the new work. Only in the just-released BTI Practice Outlook 2024: Navigating Legal Spending and Needs in the New Unpredictable World.