The Association of Corporate Counsel (the “ACC”) recently recognized seven different collaborations between law firms and law departments that created special value for the clients they serve. Law firms can learn a lot from the partnership examples recognized by the ACC, as they are typical of the kinds of “value” that clients now seek.
Those partnerships recognized by the ACC included:
1. RBC Capital Markets and Morgan, Lewis & Bockius LLP, a team that figured out how adapt fee structures to specific matters or portfolios of work while cutting total employment law spending by 35 percent.
2. Rockwell Collins and Seyfarth Shaw LLP, which applied corporate process improvement techniques to legal matters to enhance efficiency and reduce costs while maintaining superior quality and outcomes.
3. The Sherwin-Williams Company and Gallagher Sharp, which came up with a method of coordinating designated types of matters nationwide and training lawyers how to benefit from shared knowledge, resulting in significant savings (15%) and improved outcomes.
4. Target and Nilan Johnson Lewis P.A., which developed a volume case retainer and coordination method and a preventive teaching program to yield a 20 percent savings.
5. Tyco International Ltd. and Shook, Hardy & Bacon L.L.P., which teamed up to develop a convergent hiring and case assignment program to cut product liability suits in half, and reduce case cycle time by 40% since 2004.
You can read articles about each of the seven collaborative “Value Champion” awards (and five awards for law firm department excellence) on the ACC Website.