Tech Companies Are Swimming in Lawsuits
Olga Kharif writes in the BusinessWeek "The Tech Beat" blog:
I just read some rather startling results from a survey done by law firm Fulbright & Jaworski. The firm asked 354 companies in various industries about their top legal concerns. And it turns out that tech companies are swimming in lawsuits -- particularly if they are in the telecommunications business.
An average U.S. technology company currently faces 42 lawsuits vs. 37 lawsuit for an average company. The tech industry places third, after healthcare and energy companies, in the number of lawsuits it deals with. It's ahead of the insurance industry, for Pete's sake!
Needless to say, that's quite expensive. Nearly a third of these companies spend more than 2% of their gross revenue on legal expenses, according to one of the largest surveys of corporate counsel in America.
posted by Fergie @ 10/19/2005 06:18:00 AM
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