Big U.S. companies spend an average of $20 million a year -- 70 percent of their legal budgets -- on suing or being sued, a survey by international law firm Fulbright & Jaworski has found.
In its third annual survey of corporate litigation trends released Tuesday, the law firm, contacted in-house counsel at 311 U.S. companies in 29 states plus another 100 foreign companies. Houston-based Fulbright & Jaworski has about 132 attorneys in its Dallas office.
Companies with revenues of $1 billion or more each handled, on average, more than 550 legal actions in 2005.
The insurance industry is the most litigation-prone, confronting an average of nearly 1,700 lawsuits last year.
Second and third places in the litigation sweepstakes go to retailers and energy firms, with companies in each sector averaging more than 330 cases, the survey said.
Labor law tops corporate governance in litigation concerns - Dallas Business Journal:
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