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How mid-sized companies in Europe select and review their legal services providers

Silvia Hodges

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Foreword

All too often, research into the European legal market focuses on the highly complex, multi-jurisdictional activity involving Global/European 500 corporations. While this research provides a comprehensive picture of this important sector, it overlooks the real ‘engine room’ of economic growth in Europe – the ‘mid-sized’ market.

It is perhaps not surprising that existing studies tend to avoid analysing the legal needs of mid-sized European companies, whilst dynamic, they are a diverse group. What is more, there is a perception that the demand for legal services is low among these smaller companies, and that they tend to engage in low-risk low-value transactions. While it is true that few of these companies have any formal annual legal budget, this survey demonstrates that such companies require the same full range of legal services as their larger competitors. In addition, a significant minority intend to increase their external legal spend in the next twelve months. Mid-sized companies are enthusiastic outsourcers of legal services as few have the in-house legal capacity to deal with even the simplest of legal problems. Collectively, therefore, despite their low profile, they are a crucial target market for European law firms.

This latest LexisNexis Martindale-Hubbell research aims to overcome the lack of information in relation to the legal services requirement of the mid-sized market. It aims to discover how well the European legal profession is currently servicing this market and explores what mid-sized companies ‘like’ and ‘dislike’ about the service they receive.

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