Issues and challenges around pricing, alternative fee arrangements and value understandably still get plenty of air-time. They received top billing at the recent COLPM (College of Law Practice Management) Futures Conference in Chicago. I read through my notes from talks by two senior in-house counsel  – there are strong words and some important messages and tips for law firm leaders, particularly in non-USA jurisdictions:

In-house counsel are adopting different approaches to working with law firms around price and billing – some want a collaborative arrangement while others have had enough and are doing all they can to avoid using law firms. Firms need to take careful note of these developments. (graphic – Sean Larkan MPh)

Mark Ohringer, General Counsel of Jones Lang LaSalle (invented outsourcing of real estate management; top two property managers globally; 40 000 staff in 62 countries) didn’t pull any punches:

  • We have tried fixed fee deals and hourly billing with law firms – ‘in our experience it all sucks and the law firms simply don’t manage this well. I am flummoxed by how to deal with this – if I could have 100% of my legal work done in-house, I would – unfortunately for me, reality dictates otherwise’.
  • We minimise work we send to law firms as fees are not managed and are sky-high. ‘I choke when I see the bills that come through’.
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Questions on thought leadership, pricing, knowledge management & future challenges for lawyers were put to fellows of the College of Law Practice Management for the COLPM Futures Conference in Chicago recently and published in a special issue of InsideLegal’s Thought Leaders Digest last week – below are the questions & my responses:

Chicago – a city of art and architecture – the venue of the Futures Conference of the College of Law Practice Management in October 2011 (Photo triptych by Sean Larkan MPh)

Q1 – Thought leadership is the core theme of our Digest, but the term “thought leader” is often misused and/or overused. In your opinion, what makes someone a thought leader? [Provided by JoAnna Forshee, InsideLegal]

  • I think a thought leader (TL) is someone whose stature or the respect with which they are held is such that they are regarded as an authority, pathfinder or even futurist.
  • The most important thing about whether one is or is not a TL is that it is determined by what others think not what one thinks oneself. The key is “have they led your thoughts?”  If so they will be regarded as a TL.
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