Learn about actual and potential costs
How much should I pay for Legal Research Services?
What is the average price of Legal Research Services?
This procurement report includes pricing information to help you purchase Legal Research Services. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.
Has the price of Legal Research Services been rising or falling?
Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.
I’m not ready to purchase Legal Research Services yet. Will I pay more if I wait too long?
We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.
What other costs are associated with purchasing Legal Research Services?
Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Legal Research Services with a reduced risk of unexpected costs.
See how we display average pricing information, trends and market data.
Find the vendor to meet your needs
Where can I purchase ?
In 2020, there are an estimated 16,300 vendors of legal research services. The top four vendors account for less than 30.0% of market revenue, indicating a low level of market share concentration. The majority of suppliers are small, private firms that operate on a local basis, which contributes to low... Subscribe to learn more.
Questions to ask potential suppliers
How can I gain leverage during negotiations?
What are the various stages of your hiring process? What specialized legal skills do you require your researchers to possess?
How many employees work for your firm?
How do you keep your wage costs under control?
Do you outsource research projects to other countries? If so, where? How does that impact research quality?
Amid widespread health concerns, what contingency plans are in place to mitigate risk to your clients and employees? Do you offer clients any flexible exemptions, such as contract suspensions?
Value Added Services
Do you offer discounts for bundled services, and if so, what are the terms?
What other services do you provide in-house that you think may be of use to me specifically?
Do you give a competitive discount if I switch from another provider to your company?
Could you refer me to another firm for related services I may need?
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Key elements for every RFP
What should my RFP include?
Buyers should specify the total budget for the service.
Buyers should state their preference for a pricing model.
Buyers should reference the Benchmark Price and Total Cost of Ownership sections of this report for assistance in creating a budget.
Buyers should ask for a list of references from current and former clients.
Buyers should reference the Buying-Decision Scorecard section of this report for key criteria to consider when evaluating providers.
Buyers need to indicate the due date for proposals.
Buyers should specify the desired contract length and the potential for contract renewals.
Buyers need to specify the expected frequency of future legal research needs.
Evaluate major factors to mitigate risk
How risky is the supply chain?
Supply chain risk for legal research services is low. Because providers of legal research rely more on skilled labor than material inputs, supply chain issues are unlikely to result in price spikes or service disruptions, thus benefiting buyers. Further, the coronavirus pandemic is having a minimal impact on the supply... Subscribe to learn more.