Posted by: johnocunningham | September 8, 2010

Speaking to the Client’s Concerns

According to published reports, the 10th annual legal study by Corporate Board Member and FTI Consulting, Inc. has determined the highest ranking legal concerns of general counsel by surveying their attitudes at hundreds of public companies.

The study reveals that the three concerns the GCs ranked highest were:

  • governance and compliance (49 percent),
  • managing outside legal fees (48 percent), and
  • executive compensation issues (36 percent).

So, if you are working on business development and marketing communications for a law firm that is courting these kinds of clients, you might want to focus at least a bit of attention on these concerns.

You could start by asking yourself these three questions:

1. How can we provide governance and compliance advice that helps to keep our clients out of trouble and out of the newspapers?

2. How can we provide legal services at more predictable costs and improve the efficiencies of our own people and our processes so that clients can better manage their outside legal costs?

3. How can we help our clients to anticipate and resolve executive compensation and disclosure issues before they become problems?

Every single corporate client lives and breathes because it serves up something their customers demand. If they don’t, they die. Law firms will need to do the same to survive in an incredibly competitive legal services environment.

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