Corporate law departments are being told to benchmark legal spend as a percentage of revenue

Thomson Reuters' 2026 State of the Corporate Law Department commentary tells GCs to present legal spend as a percentage of revenue and use industry benchmarks to provide context. The same research says 86% of GCs believe they contribute significantly, but only 17% of C-suite executives agree, while technology mentions as a strategic priority doubled from 14% to 28%. When clients explain legal value through business metrics, outside counsel will be pulled into the same frame. Firms need to connect pricing, staffing and outcomes to the business story GCs are trying to tell their CFOs and CEOs.