For law departments in the past decade, convergence — that is, consolidating the number of outside firms used in order to save money — has been all the rage. Many departments have dramatically reduced the number of law firms they retain. The convergers expect a number of benefits from a smaller panel of key firms. Those firms, they believe, will know the company better, impose less of a management burden in keeping track of transaction costs, offer better billing terms and contribute special services.
But I think convergence may be coming apart. Let’s take a look at some of the cherished beliefs behind convergence.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
