Red Bridge Strategy Presents “Fixed Fee Billing for Lawyers”

June 17, 2010

In Boston on Tuesday (June 15) Matthew Sullivan presented, “Incorporating Fixed Fee Billing into Your Law Practice.”  The session, presented with Steve Seckler of Seckler Legal Coaching and sponsored by the Beck Bode Group of Merrill Lynch Global Wealth Management, outlined the mechanics and considerations of moving from hourly billing to fixed fee arrangements.

The topics included

  • What clients want from fixed fees
  • How fixed fees can help build your practice
  • Understanding the costs of creating legal advice
    • Costs of legal tasks
    • Resource utilization
  • Planning a project before the work begins
  • Managing unexpected contingencies

According to one participant, the event was “an excellent and thought-provoking presentation.” 

Presentation materials are available by e-mail from Matthew Sullivan

If you are interested in future events from Red Bridge Strategy, please join our mailing list.


The Ethical Challenges for Law Firms to Embrace Alternative Fees & LPO

June 13, 2010

In A Financial Model for Law Firms to Embrace Alternative Fees & LPO we explored how, by structuring LPO vendor services into fixed-priced, litigation offerings, law firms could offer lower prices while potentially maintaining margins in return for managing LPO vendors and retaining the liability for them.  This second in the series of two posts explores the ethical and professional responsibility challenges associated with such an arrangement.

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A Financial Model for Law Firms to Embrace Alternative Fees & LPO

June 13, 2010

In a recent post (LPO is a Distinct Legal Services Industry – Porter’s Five Forces), I outlined how LPO firms have emerged as a new class of competitors, or partial substitutes, for some services offered by law firms.  I agreed with Hildebrandt’s Kristin Stark that many law firms could be providing clients with superior value and service by incorporating lower cost discovery review into their services. 

Law firms should consider structuring LPO vendor services into fixed-priced, litigation offerings.  Firms should be able to offer lower prices while maintaining profits in return for vetting and managing LPO vendors and providing integrated litigation management.  Clients would receive lower, predictable prices and a single point of accountability for litigation matters.  LPO vendors would get more business and have the opportunity to work with clients and law firms to continuously improve processes and lower costs for all parties.  The two biggest obstacles to law firms incorporating lower cost discovery services are financial and ethical.  In this post I will outline a viable financial model, and a subsequent post (The Ethical Challenges for Law Firms to Embrace Alternative Fees & LPO) will highlight some of the significant ethical challenges.

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Incorporate Fixed Fee Billing into Your Law Practice

June 9, 2010

Join Matthew Sullivan on Tuesday, June 15th in downtown Boston for a free luncheon seminar where he will be discussing the mechanics of moving from hourly billing to fixed fee arrangements.  The agenda includes:

  • What clients want from fixed fees
  • How fixed fees can help build your practice
  • Understanding the costs of creating legal advice
    • Costs of legal tasks
    • Resource utilization
  • Planning a project before the work begins
  • Managing unexpected contingencies

Space is limited so please e-mail me if you would like to attend.


CMS Cameron McKenna’s Tony Wright Outlines Middle Office Outsourcing Efforts (Part 2)

June 9, 2010

Global Legal recently spoke to Tony Wright, Cameron McKenna’s Director of Operations, about its decision to outsource its middle office services to Integreon.  In the second of this two-part post, Tony talks about the risks and benefits of the deal, the decision to choose Integreon over larger BPO vendors, and the budding interest of other large law firms in this type of arrangement.

If you missed part 1, you can find it at CMS Cameron McKenna’s Tony Wright Outlines Middle Office Outsourcing Efforts (Part 1).

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CMS Cameron McKenna’s Tony Wright Outlines Middle Office Outsourcing Efforts (Part 1)

June 7, 2010

As readers of Global Legal are undoubtedly aware, last month UK-based law firm CMS Cameron McKenna LLP (“CMcK “) announced a 10 year, £583M arrangement with Integreon to outsource its middle office services.  In contrast to US-based WilmerHale’s recent initiative to move support services to a wholly-owned subsidiary in Dayton, Ohio, the CMcK-Integreon deal moves operations to a global legal services provider.  Interestingly, both firms have been silent on legal process outsourcing.  We at Global Legal were curious about how CMcK made its selection, and recently asked Tony Wright, Cameron McKenna’s Director of Operations, about their decision process.  In the first of this two-part post, Tony talks about CMcK’s decision process, including who was involved, what criteria were used, and how long it took.  Tony’s responses to my questions are below.

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