The amount UK businesses are spending on litigation has fallen dramatically since 2012.
41% of law firms questioned during recent research reported a spend of less than $500,000 (£317,750) on litigation over the past year, compared with only 21% answering the same in 2012.
The figures published present downbeat news for law firms dependant on instructions of this type, who have no doubt struggled throughout the course of the year.
The research also found that the percentage of law firms spending between $1m-$5m on litigation fell from 36% to 28% over the same period.
The slump in litigation spending could be down to a number of factors. Perhaps a change in focus amongst some of the largest law firms? In-house attention appears to be turning to regulatory investigations as opposed to litigation. Or finally, the effectiveness of ADR is becoming apparent?
Or perhaps maybe, just maybe, global corporations are starting to get on.
UK corporate counsel reported litigation spend below $500,000 (£317,750) in 41% of companies, compared with 21% in 2012.