What GC Thought Leaders Experiment Is About (Hint: Not Cost)
The leaders of AdvanceLaw explain the GC Thought Leaders Experiment is not about tracking billing data, but about tracking what makes for a satisfying relationship between law firm and client.
July 25, 2017 at 11:41 AM
5 minute read
The publication of An Open Letter From 25 General Counsel on July 11th has led to an outpouring of responses and reactions from different corners of the legal profession. We're excited to see it—one of the aims of the Thought Leaders Experiment was always to create debate and dialogue.
A fair bit of the discussion has been about the goals of the experiment—what's it really for? This has become a bit of a Rorschach test for the whole legal profession: we're all looking at the same inkblot, but we're seeing (sometimes entirely) different things. Some of the discussion presumes the experiment is a billing review or cost analysis. It's not, so we thought it would be helpful for us to clarify what it is.
The roots of the Thought Leaders Experiment lie in what the industry has not yet done with data: use it to test which client and law firm behaviors measurably improve satisfaction and lead to the best relationships. We are doing this by looking at data relating to thousands of matters to see how client and firm practices (such as the existence of a law firm panel) impact client assessments of quality, responsiveness, expertise, trust, and innovation. (You can see more detail on the project here.)
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