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What in-house counsel should consider before retaining an outside law firm
When in-house counsel needs to retain an outside law firm, there are usually many firms that have the necessary legal skills. There are several other factors that distinguish law firms and are important considerations:
First, has the outside law firm taken the time to learn my business and objectives? You’ll want a lawyer who truly understand your objectives so that your company’s needs are met.
Second, what is the culture of the outside law firm? This is often overlooked, but can be critically important. Law firms that truly take a team approach to a client’s legal matter will be much more effective than firms that are siloed where lawyers work in a vacuum.
Finally, what is the value proposition the outside law firm brings to the table? It’s a competitive marketplace and in-house counsel should seek proposals with cost certainty where possible as well as alternative fee arrangements that can create a win-win situation for the law firm and client.