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WHAT WE'RE WATCHING

INNOVATION TRANSLATION - Let's just go ahead and say it: the RFP process is often a waste of time for law firms and clients alike, as firms expend time and resources on their pitches but frequently fail to sway legal departments away from their existing outside counsel. Sometimes that's simply because a firm jumped at an "opportunity" that was never really there to begin, either because they weren't right for the job or the client had no intention of awarding them the work. But even when clients really are looking to make the switch to a more innovative, efficient and tech-savvy firm, those initial conversations frequently end up going nowhere. Why? Because talking tech can be difficult and those discussions tend not to progress beyond the superficial, with prospective clients asking shallow questions about firms' capabilities and firms responding with stock answers. In this week's Law.com Trendspotter column, we look at how both sides can make the most of the RFP process—from knowing what questions should be asked and answered when it comes to tech to knowing when to sit the process out altogether. I'm interested to hear your thoughts: Is the RFP process still useful? And, if so, how can firms best demonstrate their ability to be innovative and efficient to current and prospective clients? Let me know at [email protected].

'NOT WORTH IT' - Diego Denson became a millionaire this past year, recording record revenue for his small cybersecurity consulting business as the pandemic forced companies everywhere to make an abrupt shift to fully remote operations. But, as Law.com's Cedra Mayfield reports in the second installment of a series for ALM's Small Business Guidance program, Denson suffered a devastating personal loss among all those professional gains. "As I began gaining more success with business, building up my client base from California, Omaha, Denver, Canada, Atlanta and New York City, I got the news that my brother, who still lived in New York City, was fighting for his life," Denson said. "The COVID pandemic was going on heavy in New York City. My brother ended up passing away on July 12, 2020." Reflecting on the financial success that coincided with this family tragedy, Denson said, "I felt like it was not worth it, because I lost my brother."

NEGOTIATION TABLE (AND CHAIRS) - Office furniture manufacturer Herman Miller has agreed to purchase rival Knoll Inc. for $1.8 billion. The transaction, announced April 19, is expected to close in the third quarter of 2021. Michigan-based Herman Miller was advised by a Wachtell, Lipton, Rosen & Katz team led by partners Adam Emmerich, Jenna Levine, and Zachary Podolsky. Pennsylvania-based Knoll was represented by a Sullivan & Cromwell team led by partners Ari Blaut, Ronald Creamer, and Stephen Kotran. BofA Securities, which acted as financial adviser to Knoll was represented by Willkie Farr & Gallagher partners Laura Delanoy and Steve Seidman. Stay up on the latest deals and litigation with the new Law.com Radar.

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