Defining Value – from the Horse’s Mouth (part III)
In Defining Value (part I) and (part II), we noted the importance of in-house counsel defining what they expect in terms of “value” and of outside counsel helping their clients do this. Clearly, the failure to define and reach a mutual understanding of what is expected as to value increases the risk substantially of not getting or delivering what the client really wants. We also noted that it's equally important to recognize how subjective "value" really is. Like beauty, value too rests in the eyes of the beholder -- in this case, the corporate client. And, often, the client may not have thought through what he or she really wants in terms of value or ... Read the full post...
Information or Wisdom Managment – Generating More ValueI have a forward-thinking law firm client that's committed to enhancing its capabilities in a number of areas that the firm's Litigation Section leaders have tagged as being very important to its corporate clients. One is Knowledge Management. A small team of lawyers has been tasked to assess the firm's current KM competency and propose a game plan for improvement. Candidly, if I were heading up the team, I’m not sure exactly how I would start down this challenging path. Although, ... Read the full post... | Managing Litigation as a Business – Albuquerque
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Join us September 22, 2011, as we expand this unique nationwide collaborative effort among in-house legal teams to improve how you manage your company's litigation and implement a continuous improvement process.
Reporting Billable Hours on Fixed-Fee Arrangements – Missing the PointRecently, law department consultant Rees Morrison expressed his disagreement with the statement by an in-house lawyer that “A firm is disguising hourly billing as value billing if it merely estimates the number of hours it would spend on a case and derives a flat fee from that.” Rees' position (see blog post) is ... Read the full post... | Law Department Benchmarking3 Key Value Adds from a GC’s Perspective The ability to benchmark is a key asset in a general counsel’s pool of resources. It provides law department leaders a wealth of information and lends statistical support for critical internal discussions and decision making regarding departmental performance, budgets, cost control and operating efficiency. Huron ... Read the full post... | The Value of In-house Counsel – ExaminedAs its name suggests, this blog is devoted to the subject of "High Value Legal Service." Our posts to date have focused primarily on what constitutes and contributes to the delivery of high value legal services. Another aspect of "value" has been the subject of recent writings; namely, the value generated by in-house counsel for the corporate client. Read the full post... |
