How Feit Benchmarks
By Michael Feit | Contract Negotiations , Feit Consulting
Feit Consulting has legal-information market intelligence dating back to 2001. Each year, Feit Consulting conducts law firm interviews, audits, and surveys. In the last twelve months, we have connected with more than 200 firms, gathering a large array of intelligence to fine-tune our market view. Feit Consulting utilizes an observed median derived from these learnings when developing our benchmarks. The median is our opinion of the mid-mark data point by which half of the market is above and half is below.
Data is continually monitored and benchmarks are recalibrated by Feit Consulting’s Legal Information Research Team. Benchmarks will be tweaked when pertinent market changes take place, influencing the relative strength of each vendor. Pertinent market changes would include a significant new competitor, product features, content, changing preferences, and/or compelling pricing.
Feit Consulting does not disseminate firm-specific information, and is compliant with all signed non-disclosure agreements. Feit Consulting adheres to third-party consultant non-disclosure agreements, and in accordance, does not utilize nor aggregate client information.