TAG: Alternative fee arrangement (AFAs): :Lopsider content relating to AFAs associated with in-house legal teams, law firm engagements and pricing. Subscribe
Source The American Lawyer|2017-08-16T14:46:14-07:00Aug 10th, 2017|Categories: Post|Tags: AFAs, Outside Counsel, Relationship Management|
GSK shifted most of its outside counsel work to fixed fees. GSK uses reverse auctions and other measures to evaluate a law firm's value proposition.
Source Bloomberg Law|2017-08-08T10:21:54-07:00Aug 1st, 2017|Categories: Post|Tags: AFAs, Outside Counsel, Value Pricing|
Microsoft announced a goal of shifting 90% of its legal work to alternative fee arrangements (AFAs).
Source Corporate Counsel|2017-07-29T11:48:48-07:00Jul 26th, 2017|Categories: Post|Tags: AFAs, Change, Convergence, Disruption, Innovation, Law Firms, Outside Counsel, Value Pricing|
Six general counsel involved with the AdvanceLaw experiment share their thoughts.
Source Law.com|2017-07-29T17:02:37-07:00Jul 21st, 2017|Categories: Post|Tags: AFAs, Law Firms, Outside Counsel, Relationship Management, Value Pricing|
A cautionary tale for in-house teams and law firms negotiating AFAs and considering value pricing.
Source Corporate Counsel|2017-07-29T11:32:05-07:00Jul 11th, 2017|Categories: Post|Tags: AFAs, Change, Convergence, Disruption, Innovation, Law Firms, Outside Counsel, Relationship Management, Value Pricing|
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.
Source Corporate Counsel|2017-06-26T18:24:16-07:00Jun 19th, 2017|Categories: Post|Tags: AFAs, Law Firms, Outside Counsel, Value Pricing|
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
Source Jordan Furlong|2017-06-28T17:36:49-07:00May 31st, 2017|Categories: Post|Tags: AFAs, Law Firms, Outside Counsel, Value Pricing|
Thoughts by Jordan Furlong regarding the current state of pricing and the challenges/value of value pricing. Read Jordan's Post.
Source Bloomberg Law|2017-06-28T17:30:08-07:00May 30th, 2017|Categories: Post|Tags: AFAs, Law Firms, Strategy, Value Pricing|
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 [...]
Source Corporate Counsel|2017-06-26T18:47:37-07:00May 16th, 2017|Categories: Post|Tags: AFAs, AI, Data, Legal Spend, Outside Counsel, Value Pricing|
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.
Source Rethinking Legal|2017-07-15T10:11:09-07:00Apr 15th, 2017|Categories: Post|Tags: AFAs, Knowledge Management, Law Firms, Process Automation, Process Management, Technology|
John Alber discusses 6 steps large law firms should consider in transforming client service: 1) understand how to price work, 2) offer fixed pricing and AFAs, 3) optimize processes, 4) [...]
