Laser Focus World is an industry bedrock—first published in 1965 and still going strong. We publish original articles about cutting-edge advances in lasers, optics, photonics, sensors, and quantum technologies, as well as test and measurement, and the shift currently underway to usher in the photonic integrated circuits, optical interconnects, and copackaged electronics and photonics to deliver the speed and efficiency essential for data centers of the future.

Our 80,000 qualified print subscribers—and 130,000 12-month engaged online audience—trust us to dive in and provide original journalism you won’t find elsewhere covering key emerging areas such as laser-driven inertial confinement fusion, lasers in space, integrated photonics, chipscale lasers, LiDAR, metasurfaces, high-energy laser weaponry, photonic crystals, and quantum computing/sensors/communications. We cover the innovations driving these markets.

Laser Focus World is part of Endeavor Business Media, a division of EndeavorB2B.

Laser Focus World Membership

Never miss any articles, videos, podcasts, or webinars by signing up for membership access to Laser Focus World online. You can manage your preferences all in one place—and provide our editorial team with your valued feedback.

Magazine Subscription

Can you subscribe to receive our print issue for free? Yes, you sure can!

Newsletter Subscription

Laser Focus World newsletter subscription is free to qualified professionals:

The Daily Beam

Showcases the newest content from Laser Focus World, including photonics- and optics-based applications, components, research, and trends. (Daily)

Product Watch

The latest in products within the photonics industry. (9x per year)

Bio & Life Sciences Product Watch

The latest in products within the biophotonics industry. (4x per year)

Laser Processing Product Watch

The latest in products within the laser processing industry. (3x per year)

Get Published!

If you’d like to write an article for us, reach out with a short pitch to Sally Cole Johnson: [email protected]. We love to hear from you.

Photonics Hot List

Laser Focus World produces a video newscast that gives a peek into what’s happening in the world of photonics.

Following the Photons: A Photonics Podcast

Following the Photons: A Photonics Podcast dives deep into the fascinating world of photonics. Our weekly episodes feature interviews and discussions with industry and research experts, providing valuable perspectives on the issues, technologies, and trends shaping the photonics community.

Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
  • James Butler, Ph.D., Hamamatsu
  • Natalie Fardian-Melamed, Ph.D., Columbia University
  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

Wolters Kluwer study finds law firm rate increases remain elevated

ELM Solutions’ LegalVIEW Insights report shows that corporate legal departments continue to feel cost pressures

New data from Wolters Kluwer’s LegalVIEW Insights report series suggests that early 2024 law firm rates charted a volatile and inconsistent trajectory. The findings depict an industry still grappling with the impact of the strong, consistent rate increases that faced many corporate legal departments in 2023.

“Successfully absorbing the cost of ongoing law firm rate increases remains a challenge for corporate legal departments,” said Jennifer McIver, Director of Legal Operations and Industry Insights at Wolters Kluwer ELM Solutions. “However, we continue to see evidence that early firm engagement, sophisticated RFP processes, and staunch enforcement of billing guidelines can mitigate spend.”

The LegalVIEW Insights series leverages the more than $180 billion in legal invoice data housed in Wolters Kluwer’s LegalVIEW database. Expert analysis reveals the trends shaping legal spend across industries such as finance and securities, insurance, manufacturing, life sciences, and real estate.

Additional insights found in LegalVIEW Insights volume 2024-1 include:

  • Data captured through April 2024 suggests a more fragmented landscape for law firm rates. For example, the manufacturing and life sciences industries experienced average rate increases of 9.7% and 9.9% respectively. Meanwhile the financial and insurance sectors saw average rate decreases of 4.9% and 4.6%.
  • 2023 boasted an average rate increase of 5.6% and a median 4.0%. The proximity of median to mean suggests that rate increases were a consistent, widespread reality impacting many corporate legal departments rather than driven by a few isolated outliers.
  • The only real signs of a 2023 reprieve came from Am Law 151-200 firms, which reported a significant median rate decrease of 8.1%. However, data collected through April 2024 suggests those fortunes may already be reversing with a median rate increase of 10%.
  • Upticks in rates between 4 and 10% accounted for 21.6% of all rate increases in 2023, compared to only 18.8% the year prior.

For more information about Wolters Kluwer’s please visit: www.wolterskluwer.com.

About Wolters Kluwer

Wolters Kluwer (EURONEXT: WKL) is a global leader in information, software solutions and services for professionals in healthcare; tax and accounting; financial and corporate compliance; legal and regulatory; corporate performance and ESG. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with technology and services.

Wolters Kluwer reported 2023 annual revenues of €5.6 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 21,400 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.

For more information, visit www.wolterskluwer.com, follow us on LinkedIn, Facebook, YouTube and Instagram.

Contacts

Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms Of Service.