Criminal Law is a system of laws concerned with punishment of individuals who commit crime related to traffic, public order, property and people.
The global criminal law practices market was valued at $42.4 billion in 2017. North America was the largest geographic region accounting for $21.0 billion or 0.5% of the global market. The USA was the largest country accounting for $17.1 billion or 0.4% of the global criminal law practices market.
Pressure to control costs have forced criminal law firms to move away from traditional by-the-hour billing models to alternative billing models. The new alternative billing models include fixed, flat blended and capped fees. Many law firms are switching to alternative billing models to build long term relationships with clients and to maximize value they are offering to clients. According to a survey by the US law department, about 72.8% of fees paid to outside counsel was not based on standard hourly rates or the billable hours.
Companies Covered: Baker & McKenzie, Clifford Chance, Allen & Overy, Sidley Austin, Gibson Dunn & Crutcher
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