As in-house counsel place stricter controls on the work of outside counsel, the need for legal panels has never been greater - they provide consistency of advice and help organisations maximise the value of their external counsel.
For law firms, an increasing amount of law firm fee income is generated through work that comes from a firm’s appointment to the legal panels of many of the largest UK and global companies. Winning a place on the panel of a large company can generate millions of pounds/dollars of repeat fee income, providing a predictable revenue stream to the firm for the life of the panel.
A Corporate Counsel's Guide to Law Firm Panel Selection & Management is aimed at both senior in-house lawyers and law firms. It outlines the essential steps that corporate legal departments must take to ensure they select the right firms.
For law firms, A Corporate Counsel's Guide to Law Firm Panel Selection & Management provides a unique insight into the mindset of corporate counsel. It will help firms navigate the ITT and interview processes, and provide guidance on how to develop a successful post-pitch plan.
Part I - Chapters (1 to 6)
- Introducing the benefits
- Building the business case – pros and cons
- Different types of panels reviewed
- Project management and implementation timelines
- How to prepare and distribute an invitation to tender (ITT)
- Reviews and short-listing candidates
- Conducting interviews and communicating with winners and losers
- Post pitch – induction programmes and defining the communications strategy
Part II - Managing the external counsel relationship
- Value based pricing
- Working in partnership
- Legal project management
Articles and case studies
- Emerging trends and best practices, Eversheds Consulting
- Jeffrey Carr, FMC Technologies
- John Downing, Imperial Tobacco Group
- Glen Silverstein, Leader & Berkon
- Ian Leedham, National Grid
- Humphrey Tomlinson, RSA Insurance Group
Part III - Global Law Department Benchmarks
- Part III features the Global Law Department Benchmarks study, conducted by General Counsel Metrics (GCM). The study presents a new approach to law department performance benchmarks. It provides metrics that are relevant not only to general counsel but also to law firm partners.
Appendices - Resources
- Draft ITT contents page and document structure
- Business Case - Questionnaire
- 10-point assessment form