Takeaway: Due to better client services and factors such as further expertise in the subject matter, international companies are beginning to move their business to smaller and more specialized boutique law firms.
According to a report by Globality, Inc. it appears that large companies are beginning to gravitate toward smaller law firms for specialized legal issues such as intellectual property needs. The report was produced by The Lawyer Research Service who collaborated with Globality to survey over 300 General Counsel and other in-house staff members.
There are a number of reasons these in-house teams are beginning to choose small to mid-sized firms for their work, such as being more innovative, quicker and easier to vet, and having better expertise in the subject matter. With that said, the biggest reason these in-house teams are choosing smaller firms is because they provide better client services.
The trend seems to be that larger companies believe they will receive better and more attentive service from smaller firms because they are competing for attention with similarly-sized companies at big firms. Several in-house counsel staff members have the impression that the smaller firms give them more attention because they feel like they are a more important client to the small firm than they are with one of the big-law organizations.