Monetizing Gains and Avoiding Commoditization
Legal professionals can maximize value with data-driven decisions and extra service.
January 31, 2011 at 07:00 PM
4 minute read
As this issue of InsideCounsel discusses in-house counsel compensation and outside counsel relationships, I'd like to identify some techniques and trends that I believe will impact each.
Inside Counsel: In my view, legal departments should hire fewer full-time employees, give them broader responsibilities and pay them more.
Start with the denominator. Are you capturing all of the company's spend on legal services? Are human resources, facilities and IT spending money on outside counsel? Is finance getting international tax (or other legal advice) from lawyers at the auditors?
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Trending Stories
- 1The Law Firm Disrupted: For Big Law Names, Shorter is Sweeter
- 2Wine, Dine and Grind (Through the Weekend): Summer Associates Thirst For Experience in 'Real Matters'
- 3The 'Biden Effect' on Senior Attorneys: Should I Stay or Should I Go?
- 4'That's Disappointing': Only 11% of MDL Appointments Went to Attorneys of Color in 2023
- 5'You Are Not Alone': 120 Sex Assault Victims Plan to Sue Sean 'Diddy' Combs
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250