If we round up the usual suspects of policies and practices law departments promulgate regarding outside counsel budgets on matters, who will be dragged in? Here are some of the [lock and] key elements:
1. When in-house counsel should request a budget from an outside law firm;
2. Examples of forms of budgets, for both litigation and non-litigation;
3. Who reviews budgets and what measures there are of compliance;
4. Guidelines on how to review the budget with the outside firm;
5. The circumstances under which the law firm should or may revise the budget; and
6. Integration of budgets and matter management or e-billing systems.
Previous posts have considered some aspects of these common standards (See my post of Nov. 6, 2005 on Domino’s policies on budgets; Nov. 6, 2005 on the effectiveness vel non of budgets; Aug. 8, 2006 on guidelines in-house for management of outside counsel. April 14, 2005 on budget revisions; Dec. 15, 2005 on implementing budgets; Nov. 7, 2005 on budgets and the references cited; Feb. 18, 2007 on willingness of firms to prepare budgets; and Feb. 20, 2007 and March 1, 2007 on hold backs and enforcement.).