Probably to no one's surprise, America's largest corporations are big spenders when it comes to legal issues.

A new survey of corporate counsel from international law firm Fulbright & Jaworski L.L.P., reveals that American corporations are known for more than just entrepreneurship. Large U.S. companies, defined by those with $1 billion plus in annual gross revenue, were also the biggest players in the litigation field according to the survey.

Half of the survey respondents in the billion dollar category reportedly retained counsel from more than 20 outside firms. Insurance companies were the leaders, with 58% retaining attorneys from 20-plus firms.

Also, not too surprisingly, U.S. companies reported the expenditure of 71% of their overall legal budgets was used to deal with pending disputes. In other words, nearly three-fourths of the legal fees for America's largest corporations was essentially used in the liability field.

When it comes to companies, it also seems self-evident that the insurance industry represented the greatest number of liability cases. Included in the study was the revelation that largest businesses were also willing to initiate suits on behalf of their product or company.

For details on the findings, see: www.fulbright.com/litigationfindings. To read a summary of the information, visit: http://lawfuel.com/show-release.asp?ID=9064.