This resource outlines six fee structures used in value billing and the incentives created by each structure. Sample engagement terms are included.
This resource outlines appropriate guidelines for the management of outside counsel.
In-house counsel should take a leading role in building upon regulatory actions to adopt cyber risk mitigation measures. This is a list of things that can and should be done before an attack occurs to position your company to effectively respond to a cyber incident.
This article focuses on the different value-based approaches and what it takes to not just make them work, but thrive. It stresses the need for a true partnership to develop between in-house and outside counsel. When a true partnership is formed, waste is eliminated for in-house counsel, while profits are maintained, and sometimes even enhanced, for outside counsel. The article delves into the need to diverge from the "I hire the lawyer, not the firm" mentality and place emphasis on the product that is the practice group instead. Finally, it touches on a few misconceptions concerning alternative fee arrangements and how to best measure the value from those arrangements.
<p/>This ACC Value Challenge resource is part 3 of a 3 part series. To view the other resources in this series, please click here:</p>
<p class=><a id=CP___PAGEID=1365185| href=/legalresources/resource.cfm?show=1365185>ACC Value Challenge: Facing Up to the Challenge - The Case for Change (Part 1)</a></p><p class=><a id=CP___PAGEID =1365193| href=/legalresources/resource.cfm?show=1365193>ACC Value Challenge: Facing Up to the Challenge - Law Firm Metrics (Part 2)</a></p>
This article focuses on the end goal of implementing alternative fee arrangements ("AFAs"). Statistics show that more and more firms and in-house counsel are moving their work to some type of AFA, but yet not all of them have a firm understanding as to what they're trying to achieve. This article addresses three basic, attainable, targets that general counsel and law firm leaders alike should keep in mind as they implement and improve their AFAs: (1) reducing the client's total legal costs by a significant amount, (2) providing near-complete predictability in cost and process, and (3) significantly improving outcomes.
<p/>This ACC Value Challenge resource is part 1 of a 3 part series. To view the other resources in this series, please click here:</p>
<p class=><a id=CP___PAGEID=1365193| href=/legalresources/resource.cfm?show=1365193>ACC Value Challenge: Facing Up to the Challenge - Law Firm Metrics (Part 2)</a></p><p class=><a id=CP___PAGEID =1365213| href=/legalresources/resource.cfm?show=1365213>ACC Value Challenge: Facing Up to the Challenge - The Transition (Part 3)</a></p>
This Top Ten provides an overview of the purpose, development, structure and implications of the the US National Institute of Standards and Technology (NIST) 2013 Preliminary Cybersecurity Framework.
The long-term impact of outside devices cannot fully be realized as technology and the court's adjudication of such devices are constantly evolving. The following tips will assist counsel in understanding the territory.
If you have not yet become acquainted with predictive coding, there is no shortage of articles and blogs available to get you caught up to date. To help get your bearings in the brave new world of predictive coding, this article covers ten important predictive coding concepts.
The guide to implementing legal knowledge management programs explains the full life cycle – from knowledge creation to storage, sharing and utilization. Learn how to capture structured as well as tacit knowledge and leverage both to improve efficiency and effectiveness. Includes practice tips, case studies, templates, links to relevant value practices, and a list of selected commercial knowledge management tools.
Download the PDF, or view the interactive digital edition at: http://www.accvaluechallenge-digital.com/accvaluechallenge/acc-guide-to-knowledge-management
An item for your bulletin board, this series of checklists covers project scoping, budgeting, post project reviews and lines of communications. It also includes best practices culled from discussions among a large gathering of inside and outside counsel, as well as a sample project kick-off meeting agenda.