Development of Legal Spend Strategy
We begin by jointly working with Corporate Counsel to get a better understanding of the law firms you are currently using and what types of work is being performed. We perform an audit of your legal spend to collect feedback on law firm performance and to track the current pricing formulas being used. With this information, we then work with you to develop a legal spend strategy to reach your business goals.
Project Planning & Project Management
Based on the information collected in phase 1, we then develop an RFP that is customized to your business and your industry. A project management schedule is created for the RFP and we handle all the logistics involved in issuing the RFP to external law firms.
Execution of RFP
We manage the entire RFP process, which includes answering any questions from the law firms and collecting and formatting the submissions in a way that allows Corporate Counsel to easily compare the competitive advantages of each firm.
Final Presentations and Pricing and Terms of Engagement Negotiations
Once a final group of law firm candidates are identified, typically a round of in-person presentations are scheduled. We coordinate that process and assist Corporate Counsel in comparing the proposals. We also work with Corporate Counsel in the negotiating the pricing structure and outside counsel guidelines.
Post RFP Feedback Process
Following the RFP process, we manage the communication and feedback process with the law firms who participated. We work with Corporate Counsel to implement the new legal spend strategy with the selected law firms.