Posted by: johnocunningham | November 16, 2012

What GCs Value Most in Legal Service

The Assocation of Corporate Counsel (“ACC”) has recently published a 48-page piece that offers some valuable insights into what legal chieftains are looking for in their outside counsel. This practical guide also offers up interviews with the GCs at 17 of the world’s most reputable global companies. The ACC publication is entitled: “GC Value Insights: What Multinational General Counsel Value Most.”

The participants offered an overview of what they spend – in total – on their legal budgets, which should be helpful to those law firms that are trying to estimate “share of wallet” they have with these high-profile brands.

They also offered up impressions on “most valuable practices,” some of which include:

  • Use of creative e-discovery and document review practices that help control litigation costs;
  • Use of contract counsel where appropriate;
  • Outsourcing of work to legal process vendors; and
  • Use of value-based fee structures.

Favored practices for project staffing, technology utilization, lawyer training, and other aspects of legal service delivery are also addressed.

This piece is very important reading for those lawyers, firms and legal marketers that are courting the top global companies in the U.S.

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