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Source The American Lawyer|2017-10-16T13:27:48-07:00Oct 10th, 2017|Categories: Post|Tags: Budgeting, Communication, Culture, Finance, Law Firms, Outside Counsel, Project Management, Value Pricing|
In this thoughtful article, Nancy Jessen discusses how law firms can address the reductions in profitability and realization facing the industry. Hint: 1) budget -- create a realistic scope of [...]
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|2017-07-15T11:49:00-07:00Jul 11th, 2017|Categories: Post|Tags: Data, Data Analytics, Disruption, Innovation, Law Firms, Outside Counsel, Relationship Management, Transformation, Value Pricing|
In early 2017, approximately 30 general counsel began working with AdvanceLaw on a GC Thought Leaders Experiment to understand client-law firm relationships, spark discussion, and provide in-house counsel and [...]
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.
