TAG: Alternative fee arrangement (AFAs): :Lopsider content relating to AFAs associated with in-house legal teams, law firm engagements and pricing. Subscribe
AdvanceLaw is designed by forward-thinking GCs keen to improve the legal market. AdvanceLaw provides customized support to each of the participating GCs, who view us as an extension of their in-house teams.
A thoughtful discussion of "anchor" pricing, fair "value" and alternative fee arrangements (AFAs). A worthwhile read for law firms and departments. http://www.corpcounsel.com/id=1202790500046/Why-You-May-Not-Be-Getting-Fair-Value-With-Discounted-Legal-Rate
Some thoughts by Aric Press, former editor in chief of The American law and a consultant, regarding value pricing and some discussion at the May 2017 Somerville Forum. It offers [...]
A new tool using International Business Machines Corp.'s Watson is hard at work for in-house legal departments with the goal of significantly reducing outside counsel spend. So far, use of "Outside Counsel Insights," or OCI, has been limited to legal departments in the financial services industry, according to Brian Kuhn, co-founder and leader of IBM Watson Legal. But with the potential to save as much as 30 percent on annual outside counsel spend, it's no surprise that the tool has piqued the interest of some of the largest companies in that field.