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| Image [cc] juhansonin |
Dan: Recent reports of BigLaw staff firings got me thinking.
Jane: I hope you weren’t driving at the time.
Dan: Anyways … I came up with a brilliant idea for how law firms can reduce their cost structures. Everyone is always bitching (your specialty Jane) about how the cost structure of large
(With sincere apologies to Sam Beckett.)
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| Image [CC] – Merlaysamuel |
What is your reaction to that title?
Most lawyers will probably turn their noses up at this. Since law is a reputation-based business, who in their right mind would want their reputation associated with being cheap?
Many clients will likely be quite interested in this concept. Not that all of their work will ever go
While I was in Seattle at the 2013 AALL Conference, I had a chance to listen to, and briefly talk to Casey Flaherty of Kia Motors America, Inc. As many of you have read recently, Casey is making waves by giving his outside counsel some basic skills tests on how long it takes them
(This is part 4 of a 4 part series. You can download the entire SOLP 2013 below.)
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| Image [CC] – Jeffness |
The newer the legal pricing role, the more likely it is to be defensively motivated. By defensive, I mean the pricing role is narrowly focused on holding the line on profits. The more mature
(This is part 3 of a 4 part series. You can download the entire SOLP 2013 here.)
For the last fifty or sixty years, law firms have used the infamous hourly billing rate pricing model almost exclusively. More importantly, during this era they had the luxury of constantly raising prices under growing demand. This
(This is part 2 of a 4 part series. You can download the entire SOLP 2013 here.)
In-house legal departments are now facing the same cost savings pressures as other corporate departments. In the past “legal” was able to largely avoid this conversation with leadership. They would dodge the question by insisting that they
(This is part 1 of a 4 part series. You can download the entire SOLP 2013 here.)
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| IMage [CC] – Frank Kovalchek |
Partners, Executives, CFOs, CIOs, CPOs, Marketers, and Legal Pricing Aficionados of all types, titles, and roles, I have come to report that the current state of legal pricing is absolutely chaotic.
Today’s Guest Blogger, Kristina Lambright, brings us a review and explanation of Jordan Furlong’s new book, Evolutionary Road. Kristina serves as the Manager of Strategic Pricing for Akin Gump Strauss Hauer & Feld. Prior to that she was the Pricing Analyst for Vinson & Elkins. Kristina has a JD from South Texas College of Law and an
