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Course Overview A key part of the in-house lawyer's role is choosing the right law firm for their organisation, and managing them well so as to get effective legal advice at the best price. With rising hourly rates in law firms, it is critical for the in house counsel to be sure that they are making the right purchasing decisions. This conference gives a top-to-tail run through of the alternative strategies for selection, some tips for negotiating the deal and a hard look at the skills needed to get the best from your law firm. Audience In-house Legal Counsel that are looking to recruit a new legal firm. Course Outline Selection strategies When do you need external lawyers? Do you use external lawyers for the complex matters or for the routine? This session will help you identify the appropriate factors your organisation to determine what work is best out-sourced. How to segment the legal market This section looks at the alternative selection strategies. - Do you pick the firm or the lawyer?
- Full service firms and specialist firms; a panel or a "relationship firm"?
- When a City firm is appropriate or whether you should put each piece of work up for auction
- The case for full service firms
- The case for specialist firms
Selection processes Beauty parades or lunches? Do beauty parades really allow you to select the right firm/lawyer for the job, or are referrals, mock matters or even e-bidding a better form? This session looks at the pros & cons of each method. How to buy An examination of strategies and tactics used by professional buyers, including establishing your criteria, questions to ask and how to interpret the answers you are given. What to ask for Pricing - How do law firms cost a project and what allows them to give their 'best price'?
- Use of hourly rates, blended rates, fixed fees and slice and price techniques
- The minefields of time recording
Service quality and "value added" - the icing on the cake? - What distinguishes a firm other than price? Discussion on the value of those 'extras', from updates and training, extranets and know-how, to pros & cons of secondments.
- How can you assess service quality?
Getting the best from your firm How do you ensure that the firm will deliver on its promises? This session takes the information from the 20:20 Vision research on some issues that arise: - Law firms on a "frolic of their own" - clarity of scope of work and fee expectations
- Uncommercial proposals - getting your lawyers to understand your business
- Sending it back when its not right - ensuring you are tough on quality
- Role of the relationship partner, KPIs, Client reviews
- Billing content, format and processes
Mock Tender This final session allows delegates to put into practice what they have learnt about selection criteria and buying skills, as they review a mock tender presented by a guest law firm.
How to make a booking for the CM030508 course
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