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Intriguing ideas from two parts of a three-part lump sum arrangement with a law firm
What do you think of this sentence in an article about alternative fee arrangements on the international scene? “[O]ne large European multinational paid a lump sum in exchange for three things: first, a hotline service from the multinational’s legal department to the firm; second, strategic support through brainstorming and planning; and third, handling commercial litigation involving less than a certain amount.” The quote comes from Strategies: J. of Legal Marketing, Vol. 11, Oct. 2009 at 8.
I suppose the hotline means some priority access to the firm’s leading lights. Not red phones on mahogany desks, but a commitment by the firm to answer or get back right away. The “strategic support” leaves me mystified, but intrigued. My guess is that the firm committed to helping the general counsel think through some internal management questions or remove some big-picture legal thorns.
Posted on November 16, 2009 at 06:32 AM in Outside Counsel | Permalink
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