A concept for law firm value – circumstantial value in use

An article in Sloan Management Review, Fall 2011 at 66, explains the term “value in use.”
The notion is a measure of “value in terms of how a given asset provides benefits to a specific owner under a specific use.” Assets themselves have no inherent value; they generate value only when they offer specific benefits to their users.

This speaks to the much-discussed topic of value delivered by law firms. Value in use instructs us that the value of what a law firm does depends completely on the particular company it counsels and the particular time and circumstances of that advice. Absolute value has no meaning; only circumstantial value.

A still small voice whispers to me that there is not much value in further talk about law firm value.

We welcome comments

Your email address will not be published. Required fields are marked *