November 27, 2012
Overhead or Not Overhead: Size Matters in Law Firms Eating Legal Research Costs According to BLaw Survey Findings
For details, see Bloomberg Law's recent survey, which found that 43 percent of law firm survey respondents absorb more of their legal research costs today than in 2010. Due note, however, that the size of a law firm is a factor in being able to charge back legal research costs with the clients of Big Law firms being more likely to pay for what in the 21st century is clearly law firm overhead costs for doing business.
Until the trend to push back research costs by clients of Big Law escalates substantially, it is unlikely that WEXIS will have to change its pricing and database selection licensing model. Since BLaw's major food group is Big Law, the survey findings also indicates that BLaw's "predicable" pricing for its entire eContent inventory will require increased Big Law client pushback to gain more traction. At the same time, the survey confirms that for mid-sized and small law firms, flat rate pricing for in-plan only WEXIS licenses are substantially more cost competitive than BLaw in those private sector market sub-segments. [JH]