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RFP processes for individual matters

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In contrast to those law departments that seek through a Request for Proposal one or more firms to handle the work in a given area (See my post of June 10, 2008: Exelon’s process.), some law departments send our RFPs for individual projects.

InsideCounsel, June 2008 at 64, describes how Votorantim Investimentos Industriais, a Brazilian holding company, sent out RFPs in 2007 for about 20 projects, averaging three per project. The article quotes the general counsel as saying that RFPs are “effective for acquisitions [M&A], bond issues, large corporate transactions and mass litigation.”

I agree. Law departments can do an RFP-lite for any kind of project whose legal fees justify the effort.